Islam The Ultimate Peace
When determining whether or not a corporation is sharia-compliant, a sharia scholar or fund manager looks at the company’s principal operation. If a company’s business revolves around illegal activities, it’s out — end of...
The Business Strategy of Abdul Rahman bin Auf (Radhiyallahu Anhu)
Abdul Rahman bin Auf (Radhiyallahu Anhutale )’s exposes his business plan, which is built on three fundamental ideas.
1. Working with Cash
The cash principle is the first principle of Abdul Rahman bin Auf’s (Radhiyallahu Anhu) business plan. He always paid cash for his purchases and always paid cash for his sales. (There will be no credit deals)
2. Never stock products or wait for a greater profit.
The second principle of Abdul Rahman bin Auf’s (Radhiyallahu Anhu) business plan is that he attempted to avoid storing things wherever possible, and he sold goods even if he was only paid a cent of profit. It had a high degree of money flow, thus the main focus was on boosting profits to increase earnings.
3. He was always honest in his dealings.
The third business strategy principle of Abdul Rahman bin Auf (Radhiyallahu Anhu) is that he never hides any flaws in his products. He said it in front of his consumer if his goods was not up to par or if there was even a minor flaw in it.
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