Strategic Planning in Sharia-Compliant Enterprises: A Maqāṣid-Based Ethical Framework for Modern Business

Abstract

This conceptual article develops a comprehensive framework for strategic planning in Sharia-compliant enterprises by integrating Islamic ethical values and spiritual objectives with contemporary business practices. Conventional strategic models, often rooted in secular and profit-driven paradigms, fail to accommodate the normative values central to Islamic enterprise, including maqāṣid al-sharī‘ah (the objectives of Islamic law), shūrā (consultation), ‘adl (justice), and amanah (trust). This research addresses that gap by formulating a planning approach grounded in Islamic ontological and epistemological foundations. Drawing on both classical Islamic sources and contemporary management theory, the study employs document-based qualitative methods to synthesize a conceptual model aligning enterprise vision, goal setting, implementation, and evaluation with Islamic principles. Findings reveal that Islamic strategic planning redefines success through falāḥ (holistic well-being) rather than competitive dominance. The model proposes alternative strategic tools such as ethical KPIs and stakeholder-inclusive governance. This approach contributes to both theory and practice, offering a pathway for Sharia-compliant institutions to operationalize their missions while maintaining moral integrity. The paper offers implications for Islamic financial institutions, policymakers, and global enterprises seeking values-based strategic alternatives.