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Scholars Journal of Economics, Business and Management | Volume-7 | Issue-08
Current Halal Market and Corporate Social Responsibility Practice: An overview
Zaki Ahmad, Md Mahfujur Rahman, Mohamad Helmi Bin Hidthiir
Published: Aug. 26, 2020 | 124 73
DOI: 10.36347/sjebm.2020.v07i08.007
Pages: 275-285
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Abstract
The current Halal industry is growing rapidly with increase number of both Muslim and non-Muslim consumers. The recent globalization is one of the important factors along with the technological advancement for consumers’ preference of the Halal food products. Although there is a huge demand of the Halal products and services based on Halal certification and assurance, but the current Halal industry has overlooked the importance of Corporate Social Responsibility (CSR) practice. However, for Halal industry, CSR should be a part of strategic planning for orientation of the business to the society. It should be based on the Islamic business ethics that give emphasis to the benefit of the humanity and environment to follow the order of Allah SWT. Halal industries are accountable for their actions and behaviors with better transparency of their business activities and operations. Therefore, this paper will give primarily an orientation of CSR along with the Islamic perspective. Furthermore, it will explore the current CSR understanding of the consumers of the Halal products with giving importance to the society with good governance and transparency practice. Thus, it revealed the Halal CSR information, consumer’s perspective of Halal CSR and perceived CSR activities in Halal industry. Furthermore, the study will also provide suggestions about the contribution of CSR in Halal industrial sustainability by incorporating the societal and monetary roles of the business.