the grind

Management: Process, science, organize, job
Skills: Tech, personal, concept
Roles: Personal, info, decision

Special Char of Islamic Econ:
- Resource (trustee)
- public > indiv but personal ownership
- cooperation
- property is productive not selfish
- public ownership for certain industry
- avoid unlawfulness with taqwa

Difference between Islamic/Western paradigms:
- Integration
- Purpose of life
- Larger human purpose vs. self-interest
- Welfare vs. profit
- Source of ethics
- Accountability to ______

Specific business ethics:
- hoarding
- weight accuracy
- contracts
- false ads
- destroy surplus
- riba

Islamic Finance:
- Institution dev
- Product & market
- Education
- Legal & regulate

Products:
- Murabahah: Cost + profit (BBA is installments)
- Mudharabah: Partnership (finance + management) [Party + Subject + Contract]
- Musyarakah: Company (capital, labour, reputation)
- Takaful: Joint guarantee

HR System:
- Recruit (ext, int), train, feedback, pay, relations
- Objective: Manage labor, design jobs, effective/efficient utility

EEO (Equal Employment Opportunity)

Selection (reliable/valid)
- Background
- Reference
- Test (paper/physical/performance)
- Interview

Appraisal
- Trait
- Behavior
- Result

Statements:
- Profit during time (income statement)
- Where profit used (statement of retained earnings)
- Made and spent cash (cash flow statement)
- Money at end point (balance sheet)

Ratios:
- Debt ratio: Debt/asset
- Times earned interest ratio: EBIT/interest expense
- Current ratio: Current asset/liability
- Quick ratio: Current asset - inventory / current liability
- Inventory turnover: Sales/inventory balance
- Days sales outstanding(account receivable turnover): Receivable / daily sale
- Asset turnover: sales/asset
- Profit margin on sale: net income @ stockholder/sales
- Return on total asset: EBIT/average total asset
- Return on common equity: net income @ stockholder/av. common equity
- P/E ratio: price per share * share outstanding / net income
- Book value: equity - pref stock / share outstanding

F/P = (1+i)^n
P/A = F/P - 1 / i F/P

Hawthorne: Attention (lighting) / social pressure (piecework)
Expectancy: Expectancy / instrumentality / valence (effort -> performance -> outcome)