The development of the Islamic social enterprise management index (ISEMI)
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Saunah Zainon 
, Rashidah Mokhtar , Kum Yoke Soo , Rahimah Mohamed Yunos , Nur Eyliawati Japelus , Nurul Huda Md Yatim , Muhammad Iqmal Hisham Kamaruddin
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
This study aims to determine items with Islamic elements to develop an Islamic social enterprise management index (ISEMI). An Islamic social enterprise (ISE) works by managing operations within the principles of shari’ah to redistribute wealth and reduce poverty which is supported by a similar study by Indah and Hakim (2023). The design and method for this study involved three phases of analysis which are 1) general descriptive analysis, 2) validity and reliability analysis, and 3) data analysis phase of the study. In all, 40 items with Islamic traits were identified and analyzed. Three identifiable themes emerged, which were then labeled as: 1) God; 2) humanity, and 3) nature. Because of the limited sample size, the data offers results that are likely suggestive rather than conclusive. The study offers a practical single-figure-summary indicator to measure and evaluate ISEs and has the potential as a guideline for Muslim entrepreneurs to build favorable relationships with ISE management. The novelty of the ISEMI is in its unique construction of items embedded with Islamic factors. It could thus assist in the management of ISE to ensure they fulfill the principles of the shari’ah (Islamic law) and stakeholders’ expectations.
Keywords: Islamic Social Enterprise, Management Index, Reporting Social Enterprise, Stakeholders Expectations, Shari’ah Principles
Authors’ individual contribution: Conceptualization — S.Z. and K.Y.S.; Methodology — S.Z. and N.E.J.; Investigation — R.M.Y. and M.I.H.K.; Resources — R.M. and N.H.M.Y.; Writing — Original Draft — S.Z. and K.Y.S.; Writing — Review & Editing — S.Z. and K.Y.S.; Visualisation — R.M. and K.Y.S.; Supervision — S.Z. and R.M.Y.; Funding Acquisition — N.E.J. and M.I.H.K.
Declaration of conflicting interests: The Authors declare that there is no conflict of interest.
JEL Classification: E16, L31, L32, L35, M14, O35
Received: 05.12.2022
Accepted: 25.08.2023
Published online: 28.08.2023
How to cite this paper: Zainon, S., Mokhtar, R., Soo, K. Y, Yunos, R. M., Japelus, N. E., Yatim, N. H. M., & Kamaruddin, M. I. H. (2023). The development of the Islamic social enterprise management index (ISEMI). Corporate & Business Strategy Review, 4(3), 167–180. https://doi.org/10.22495/cbsrv4i3art17
