Spirituality: The Power of Entrepreneurship

Abstract

Spirituality is considered to be an essential nature of human being that strengthens their purpose and mental power to do something for the betterment of many people. Spirituality is considered as a part of theology or other divine disciplines. Spirituality is becoming an important topic in Management and Economics, particularly in entrepreneurship. It is an animating force and vital principle that motivates entrepreneurs to run a business which is not merely for making profit but, enabling them to better serve people. A real spiritual entrepreneur is not just looking for their own benefit, but for the betterment of others. Any business which is beneficial and helpful to others will grow better and enjoy economic benefits. Spirituality is in line with the core principle of entrepreneurs, which is doing business to meet customers' need. One characteristic of spirituality is seeking to transcend the ego or their own self-centered interests. That is why spirituality is very important for entrepreneurs. It can be considered as a capital that has a number of core elements such as being driven by deep values, having a clear sense of purpose, and involving applied ethics in service.

Conceptualizing the relationship between Spiritual and Entrepreneurial Orientation in developing sustainable enterprises

“…Spirituality ignites from inside, connected with one"s work, others, and the universe. Spirituality results in intuition and creativity, honesty and trust, personal fulfillment along with a deeper commitment, and enhanced business performance moving away from personal benefits at the egocentric stage (Raco, Ohoitimur, & Sobon, 2019). As a result, it can assist individuals in developing a more compelling and purposeful organizational vision, which can lead to more innovation.…”

“…Entrepreneurs imagine new ways to create value and solve problems since they are driven by the importance of values and the purpose of entrepreneurs" activities. Meaning, purpose and values are also the key components of spirituality (Raco et al, 2019). A spiritually oriented entrepreneur will not seek for their benefit, but the wellbeing of others by thinking outside the box which will grow better and enjoy economic benefits (Raco et al, 2019).…”

“…Meaning, purpose and values are also the key components of spirituality (Raco et al, 2019). A spiritually oriented entrepreneur will not seek for their benefit, but the wellbeing of others by thinking outside the box which will grow better and enjoy economic benefits (Raco et al, 2019). With the focus only on profit-making, modern businesses violate the integrity and diversity of natural ecosystems and the culture of local communities.…”

“…Entrepreneurs who have a spiritual underpinning will encourage pro-social businesses (Pavlovich & Corner, 2014). It is the business approach that puts the community and people's interests before profit (Driver, 2012); create a sense of community (Agbim et al, 2013); understand interconnectedness (Karakas, 2010), and strategically apply spirituality in offering quality services for others (Raco, et al, 2019). A spiritual orientation provides a belief system (Pratt, 2000) where they can justify their conduct, a distinct identity or role within that system to encourage their actions, and a roadmap that provides a path to success.…”

Investigating Business Drives : Intellectual Capital To Marketing Mix

“…The higher the processability, management, and innovating new products, it will increase financial and marketing performance [8], [9]. [10] Arguing disruption occurs because information technology is radically diffused the behavior of human life [11], [12]. So, it is significantly necessary for the improvement of the company's productivity in designing marketing strategies.…”