Identification and Prioritization of Religious Mental Models Influencing the Business Model

Abstract

Objective: The primary objective of this study is to identify and prioritize the religious mental models that influence business models among Iranian Muslim entrepreneurs. Methodology: The study employs a mixed-method research approach, combining qualitative and quantitative data collection methods. Data were gathered through interviews and questionnaires. The interview sample consisted of 13 entrepreneurs from the city of Mashhad, while the questionnaire sample included 21 faculty members from management disciplines at Adib Mazandaran Institute of Higher Education. The collected data were analyzed using Excel and MICMAC software to identify and prioritize the key dimensions of religious mental models that influence business practices. Findings: The study identified eight key dimensions of business models influenced by religious beliefs: business ethics, stakeholder importance, cultural context, institutional context, family-centeredness, customer orientation, the divine meaning of business, and business skills. Among these, business ethics, family-centeredness, and the divine meaning of business were found to have the highest priority. These dimensions reflect the deep integration of religious values into business practices, with a strong emphasis on ethical conduct, the centrality of family, and the spiritual significance of business activities. Conclusion: The findings underscore the critical role that religious beliefs play in shaping the business models of Iranian Muslim entrepreneurs. Business ethics, family-centeredness, and the divine meaning of business emerge as the most influential dimensions, highlighting the importance of aligning business practices with Islamic values.