Islamic finance is a mode of finance in accordance with the precepts, principles, and values of the Islamic ethico-legal system (Shari’a). In practice this means, processes and procedures, characterized by the absence of wrongs such as wrongful consumption of wealth and usury (Riba), the prohibition of speculative behavior (Gharar), risk-sharing, and justified returns on capital; ethical principles which are shared by Judeo-Christian values. The focus of this paper is to analyze Islamic financing tools with special reference to real-estate financing. The most common modes of real estate financing are Murabaha (cost+markup), Ijara (lease), and Mudaraba (partnership financing). The purpose of this study is to analyze these three main modes of Islamic real estate financing in their contemporary practices and the impact of the global financial crisis on the Islamic finance industry in the United Kingdom. Due to the high cost of Murabaha financing, it has been limited to commercial real estate financing. Ijara and Mudaraba are the most common financing methods for residential real estate financing and are the main focus of my research.

Over the past decade more multi-billion dollar international companies have disappeared than ever before. Among them have been Anheuser-Busch, Compaq, Gillette, Enron, Lehman Brothers, Merrill Lynch, and WorldCom. Despite independent legal status and specific rights and privileges, organizational entities do consist of individual players known as human capital. In the resource-based view of an organization, human capital is the most inimitable and valuable resource. Although working with and motivating individuals appropriately is covered extensively in the field of organizational behavior, only one eighth of today’s organizations persist with new practices long enough to derive economic benefits from effectively managing human capital. Management innovation needs to encompass human drawbacks in the fast-paced global economic climate. An individual’s ability to accept the unknown frankly, create unique solutions, and be motivated to do so is hindered by the psychological mechanisms of defense and acceptance. The drive to defend accomplishments and traditions tends to overtake an individual’s capacity for change. As well, the drive for social acceptance freezes the capacity for personal authenticity and subsequent innovation. On a corporate level, change is often met with textbook denial: refusing to believe a fact despite overwhelming evidence in support of it. Why do organizations, like the aforementioned, function irrationally in denial when it leads to their ultimate demise? Case studies of business success– measured by accounting-based analysis of profit movement, market share, and stock price– will positively correlate to comprehensive organizational innovation and culture. Success will be unrelated to the lifetime of a company after they reach profitability and actually negatively correlate to patterns of management denial. If corporations do not hold individuals to challenging standards, the organization will not push beyond stasis in acceptance and defense mechanisms. If mediocrity, rather than innovation, in human capital and product lines is acceptable, even economic giants will continue to be eclipsed.

As a part of the requirements for the Principles of Marketing Class, we were to analyze a current marketing plan and develop a marketing strategy for a real local business. We chose a restaurant in Tacoma and conducted secondary research, developed a competitive analysis and completed primary research (through a survey of eighty-four consumers of Adriatic Grill). We also conducted both group and individual interviews with the owners and managers of the company. Based on this data, we found that the restaurant faces three main marketing challenges. These include an overly broad target market, an undifferentiated position in the mind of their customers, and limited funds for advertising. To address these challenges, we proposed a marketing strategy for the restaurant focusing on three specific areas in order to establish a competitive advantage. To begin, we recommended that the company should create a unique position in the mind of their current consumers. We developed a positioning concept for them: “Come Dine with Chef Bill!” on the basis of our findings of the primary research, emphasizing the personal relationship the chef shared with the customers. Next, we recommended that the company should adopt low cost guerilla marketing tactics to generate trials among potential customers. Finally, this central message needs to be integrated into all their marketing communications. The project report was presented to the owners and management of the company and was received very enthusiastically. In fact, the company indicated that they would adopt all the suggestions. The first change can be seen on their website where the positioning statement has been converted into their tagline (see, http://www.adriaticgrill.com/). This academic project, was not only a great learning experience, but was also a platform to contribute to local business.

As of December 2, 2009, the price of gold had risen 50% above its price on December 2, 2008. Silver prices increased by over 100% and platinum prices increased over 80%. During the same period of time, there was only a 2.72% rate of inflation. The percent change in gold price and other precious metals far exceeded the rate of inflation. It has been suggested by some that this market behavior is speculative in nature. I will show that the change in the price of gold is is consistent with changes in fundamental variables. Previous studies have theorized that economic and political uncertainty, government gold auctions, interest rates, and money supply changes affect the gold price. However, these studies only looked at these effects individually. I use the least squares regression technique to determine whether the Federal Reserve's monetary policy and other fundamental variables together affect the real (inflation-adjusted) price of gold enough to account for the recent price increase. This research will provide not only evidence to support or reject speculative influences, but will also provide important policy implications.