Gandhi Journal Article-II ( July 2016 )
Jamnalal Bajaj: Business Ethics, Corporate Social Responsibility and Trusteeship
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.