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7) Explain Mahatma Gandhi’s model of Trusteeship. What significance does it hold in contemporary corporate governance? Explain.(250 words)

Topic: Human Values – lessons from the lives and teachings of great leaders, reformers and administrators; role of family, society and educational institutions in inculcating values.

7) Explain Mahatma Gandhi’s model of Trusteeship. What significance does it hold in contemporary corporate governance? Explain.(250 words)

Ethics by Lexicon publications

Why this question:

Mahatma Gandhi discussed corporate social responsibility (CSR) over several decades of the 20th century. His views are still influential in modern India. The question intends to evaluate the concept of trusteeship. 

Key demand of the question:

The answer must discuss the concept of trusteeship and relate it to CSR and examine its relevance in the contemporary world.

Directive:

Explain – Clarify the topic by giving a detailed account as to how and why it occurred, or what is the particular context. You must be defining key terms where ever appropriate, and substantiate with relevant associated facts.

Structure of the answer:

Introduction: 

In a few introductory lines appreciate the concept. 

Body:

Trusteeship is Gandhi’s conceptualization of the contribution of business houses towards social well-being. Trusteeship is a theoretical construct seeking to redefine the relationship between indigenous business houses and the nationalist movement. That Gandhi succeeded in persuading the business men to participate in the freedom struggle, despite adverse consequences, suggests the extent to which Trusteeship was an effective mechanism in political mobilization.

Discuss its importance in today’s life. 

Conclusion:

Conclude by reasserting significance of it and provide for ethical aspects associated with it.

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