ICMLG 2013 Proceedings of the International Conference on Management, Leadership and Governance

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Paul Diaconu and Dan Dumitrescu requires a moral conduct also in the economic life course in general and how the corporations are governed in particular. The way in which these populations conduct business starts from the premise of trust between partners and of a good balance in the exchanges between them. That is why, the cognitive matrix of a manager will always be marked by the need of trust in the business partner, which requires a good balance in business and much fewer turbulences generated by this fact. Islamic religion, given its coercive system of imposing goodness in the society manages to cause in a significant manner, a good balance in the society, which allows, during periods of economic crisis generated by lack of trust in the business partners, positive developments without notable turbulences. Islamic experience in the financial companies, represented by the committees of Islamic supervision, is a solution to the current morality crisis generated by the managerial decisions of the corporate governance structures. We appraise that future studies will be able to test in the Western society the opportunity of these committees or the implementation of other means by which management consciousness should be channelled towards the collective good, whether this is called shareholders’ profit or overall social welfare.

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