Unit 2 : Gandhian Approach in Management and

Trusteeship.

Gandhiji’s ideas focused around the concept of Dharma-

duty of the society.
The role of business as being that of a trustee.
Surplus wealth need to be kept in the trust for common
good and the welfare of others.
TRUSTEESHIP – as about common good, welfare to
others, non-violence, economic equality and kindness .
 It means having faith and confidence in a process of
taking responsibility for assets and social values, and
administering their rightful and creative usage for the
benefit of others-now and in coming generations.
 It is a socio- economic philosophy which provides a
means at which the wealthy people would be trustees
that would look after the welfare of the people, in
general.
 Trusteeship of Gandhiji – All that wealth does not
belong to me- what belongs to me is the right to an
honorable livelihood ,the rest of my wealth belongs to
my community and must be used for the welfare of the
community.
 Ethical and Moral values contrasted by seven sins :

 1. Wealth without work.

 2. Pleasure without conscience.
 3. Knowledge without character.
 4. Business without Ethics or Commerce without
Morality.
 5. Science without humanity.
 6. Worship without sacrifice.
 7. Politics without principle.
 Reduce inequalities
 Change of attitude of businessmen
 Social Pressure
 Legal Pressure
 Socialism- society is given much more
importance than an individual. So, the wealth
of the society should be distributed equally to
all the members.
 Consider social Needs.
 Equal distribution of wealth
 Earn money by hard work.
 No right to private ownership &
 This was based on the approach to life and society.
 Trusteeship is a socio- economic philosophy.
 Gandhian Philosophy of wealth management is based
on the ‘Servodaya ‘principles of Truth, Non-violence
and Trusteeship; wherein harmony between labour and
management reigns supreme.
 Proprietors of business firms are only the trustees of
wealth and society.