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Islamic Financial System as an Effective Planning & Control Framework in Kuwait - Admission/Application Essay Example

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Islamic Financial System as an Effective Planning & Control Framework in Kuwait

Planning helps in arranging the required business operations in a sequence which facilitates in carrying out the functions in an effectual way. The control process refers to the activities of handing over, assessing and modifying resources on a constant basis for the reason of attaining the intended goals of a particular organization. Similarly, the function of control has been referred to a procedure that is supposed to be undertaken by the organization or its managers with the purpose of making certain that the definite performance obey the rules as specified in the plans of the organizations. Control relates to the process of measuring the performance of the organizations in opposition to a developed plan along with making modifications or alterations accordingly in the established plan or in the business operations whichever is considered to be required or even both at times. ...
The planning as well as the control structure will be specifically developed by taking into deliberation the finance companies for the reason of enhancing the flexibility of such companies with regard to the current international financial crisis. Planning & Control Framework The Islamic nations are blessed with the trait of being the world’s best nations brought up from humanity. The nations understand their responsibility well that people need to be aggressive in rising against immorality and unfairness. One of such wrong deeds, observed by the Islamic nations, is the economic coercion and injustice that is adversely disturbing the world. The recent financial crisis initiated within the capitalist economy of the Western countries provided the basis for presenting the Islamic socialist financial system as a substitute for the entire world (El-Gamal, “Overview of Islamic Finance”) A rising popularity of the Islamic financial system has been found to be observed soon after the failure of the present international financial system that is prevalent and practiced widely all throughout the world. Through the middle ages, the Islamic financial system had evolved as a popular phenomenon in Muslim world. With the passage of time, this financial system has spread not only within the countries like Kuwait but also throughout such regions where there is existence of extensive range of Muslim community. The underpinning of the Islamic financial system was reliant upon the actuality of barring giving or taking any return on the made investment being set earlier or even guaranteed. This basis restricts the prevalence of interest and prevents utilization of debt tools. In other words, the Islamic financial system persuades ...Show more

Summary

Planning and Control Framework Table of Contents Planning and Control Framework 1 Table of Contents 2 Introduction 3 Thesis Statement 4 Planning & Control Framework 4 The Concept of Islamic Financial System & Kuwait 5 Islamic Financial System as an Effective Planning & Control Framework in Kuwait 9 Islamic Financial System and its Strengths from Kuwait’s Perspective 10 Conclusion 15 Works Cited 17 Introduction The application of planning as well as control has been acknowledged as elementary in relation to the management practice in organizations since long…
Author : cartermaddison
Islamic Financial System as an Effective Planning & Control Framework in Kuwait essay example
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