AbstractIt is essential for the Muslim managers of different countries to follow Islamic principles in managements in a globally competitive environment if they want to gain overall success. It is observed from a study on Islamic Management conducted by Mohiuddin (2004) on the management affairs of mosque of Chittagong City, Bangladesh that 52.72% of imams of the study have received training within the country, and 83.64% of the respondents think that it is possible to prevent crimes in the area with the help of Dawa (preaching) and other activities. It is also observed that 60% of the locality of the study area obeys the Shariah rules (Islamic Rules) in marriage, divorce, remarriage other affairs. 98% of the Imams (Leaders) of the study area believe that it is essential for them to participate in political activities for the sake of Din (Islam). In the present study the data collected from the executives of the managerial level of HJM(Hafez Jute Mills Ltd), Chittagong, and IBBL Chowk Bazar Branch, Chittagong, Bangladesh, with a view to judging whether the apply Islamic principles and other strategies in managing their organizations and the effects of these applications in organization growth.