Jamnalal Bajaj: Business
Ethics, Corporate Social Responsibility and Trusteeship
Ram Chandra Pradhan
Siby K. Joseph
Appeared in Gandhi
Marg Quarterly, a publication of Gandhi Peace Foundation,
New Delhi, Vol. 37, Number 3&4 pp.537–552 , October –December
2015 and January- March 2016. ISSN 0016—4437
ABSTRACT
Gandhi’s concept of trusteeship provides an alternative system of
management of wealth and resources by creating a fine balance between
individual initiative and societal commonweal. The practical application of
this concept in the field of business involves running business on the basis of
ethical maxims and devoting the fair earnings from the business for the welfare
of the society. The life and practice of Jamnalal Bajaj was an earnest attempt
to actualise Gandhi’s idea of trusteeship in letter and spirit. This paper
analyses how Jamnalal fine tuned his life to literally adapt Gandhian idea of
trusteeship and in that process how he went much beyond the present idea of
Corporate Social Responsibility.
Keywords: Business
Ethics, Company, Truthfulness, Trusteeship, Corporate Social Responsibility
To download the article