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Explain the following term/concept. Concept of Trusteeship - Organisation of Commerce and Management

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Question

Explain the following term/concept.

Concept of Trusteeship

Explain
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Solution

Trusteeship is a socioeconomic philosophy that was propounded by Mahatma Gandhi. It provides a means by which the wealthy people would be the trustees of trusts that looked after the welfare of the people in general. Businessmen are considered to be trustees of society.

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Chapter 6: Social Responsibilities of Business - Exercise [Page 130]

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