Entrepreneurial ecosystem : Islamic leadership model - an exploration of the entrepreneurial ecosystem in Sultanate of Oman

Oman’s economic growth and development have recently shifted from the declining oil-dependent economy to other diversified sources of income generation, such as enhancing the performance of entrepreneurship as an economic growth driver. One of the ways through which such economic goals can be achieved is through the efficient management of entrepreneurial ecosystems. However, the review of existing literature features limited details in terms of how entrepreneurial ecosystems work in reality, as well as in terms of policy-related challenges in the management of entrepreneurial ecosystems. By conducting interviews on 36 participants consisting of 18 policy makers and 18 entrepreneurs, the present research established that even though there are some positive factors that support the growth of the entrepreneurial ecosystem (such as the existence of the support systems, networks, and connectivity), there are a lot of challenges that are hindering efficiency with regards to the entrepreneurial ecosystem in Oman. The most noted challenges to the effective management of entrepreneurial ecosystems are policy vulnerability and the government’s use of a top-to-bottom approach in policy and decision-making that do not involve or engage entrepreneurs, creating, in return, a disconnect and lack of balance in the ecosystem. Low stakeholder engagement and poor implementation of set policies also hinder entrepreneurship in the country. Thus, this study recommends an Islamic leadership management (ILM) approach to the management of entrepreneurial ecosystems. In this regard, effective management can be attained when skills are developed through inclusion and information sharing, incorporating religious principles such as fairness in policy making towards building institutional links, respecting cultural aspects such as diversity for an adaptive ecosystem, prioritizing strong relationships leading to effective networks, and viewing humans as custodians of earthly resources leading to equitable allocation of resources in the ecosystem. Additionally, an adaptive co-management approach can help reinforce the Islamic model as it emphasizes on learning-by-doing, relationships and the capacity of the communities and resource users.Oman’s economic growth and development have recently shifted from the declining oil-dependent economy to other diversified sources of income generation, such as enhancing the performance of entrepreneurship as an economic growth driver. One of the ways through which such economic goals can be achieved is through the efficient management of entrepreneurial ecosystems. However, the review of existing literature features limited details in terms of how entrepreneurial ecosystems work in reality, as well as in terms of policy-related challenges in the management of entrepreneurial ecosystems. By conducting interviews on 36 participants consisting of 18 policy makers and 18 entrepreneurs, the present research established that even though there are some positive factors that support the growth of the entrepreneurial ecosystem (such as the existence of the support systems, networks, and connectivity), there are a lot of challenges that are hindering efficiency with regards to the entrepreneurial ecosystem in Oman. The most noted challenges to the effective management of entrepreneurial ecosystems are policy vulnerability and the government’s use of a top-to-bottom approach in policy and decision-making that do not involve or engage entrepreneurs, creating, in return, a disconnect and lack of balance in the ecosystem. Low stakeholder engagement and poor implementation of set policies also hinder entrepreneurship in the country. Thus, this study recommends an Islamic leadership management (ILM) approach to the management of entrepreneurial ecosystems. In this regard, effective management can be attained when skills are developed through inclusion and information sharing, incorporating religious principles such as fairness in policy making towards building institutional links, respecting cultural aspects such as diversity for an adaptive ecosystem, prioritizing strong relationships leading to effective networks, and viewing humans as custodians of earthly resources leading to equitable allocation of resources in the ecosystem. Additionally, an adaptive co-management approach can help reinforce the Islamic model as it emphasizes on learning-by-doing, relationships and the capacity of the communities and resource users