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    BE Unit II Ethics Gandhian Philosophy of Wealth Management

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    The document discusses Gandhian philosophy of wealth management and trusteeship. Some key points: - Gandhi viewed business owners and managers as trustees of society's wealth, holding resources for stakeholders' benefit rather than just shareholders. - Trusteeship means optimizing value for all stakeholders, including workers who Gandhi saw as co-trustees with management. - Gandhi advocated for harmony between labor and management, with management also caring for workers' moral welfare. Strikes were justified only for securing justice, not as a first resort. - Indian companies like Infosys, Tatas, and Birla foundation have incorporated principles of trusteeship through wealth sharing, employee ownership, and social initiatives.

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    BE Unit II Ethics Gandhian Philosophy of Wealth Management

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    476 views13 pages
    The document discusses Gandhian philosophy of wealth management and trusteeship. Some key points: - Gandhi viewed business owners and managers as trustees of society's wealth, holding resources for stakeholders' benefit rather than just shareholders. - Trusteeship means optimizing value for all stakeholders, including workers who Gandhi saw as co-trustees with management. - Gandhi advocated for harmony between labor and management, with management also caring for workers' moral welfare. Strikes were justified only for securing justice, not as a first resort. - Indian companies like Infosys, Tatas, and Birla foundation have incorporated principles of trusteeship through wealth sharing, employee ownership, and social initiatives.

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    The document discusses Gandhian philosophy of wealth management and trusteeship. Some key points: - Gandhi viewed business owners and managers as trustees of society's wealth, holding resources for stakeholders' benefit rather than just shareholders. - Trusteeship means optimizing value for all stakeholders, including workers who Gandhi saw as co-trustees with management. - Gandhi advocated for harmony between labor and management, with management also caring for workers' moral welfare. Strikes were justified only for securing justice, not as a first resort. - Indian companies like Infosys, Tatas, and Birla foundation have incorporated principles of trusteeship through wealth sharing, employee ownership, and social initiatives.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    476 views13 pages

    BE Unit II Ethics Gandhian Philosophy of Wealth Management

    Uploaded by

    Learner's License
    The document discusses Gandhian philosophy of wealth management and trusteeship. Some key points: - Gandhi viewed business owners and managers as trustees of society's wealth, holding resources for stakeholders' benefit rather than just shareholders. - Trusteeship means optimizing value for all stakeholders, including workers who Gandhi saw as co-trustees with management. - Gandhi advocated for harmony between labor and management, with management also caring for workers' moral welfare. Strikes were justified only for securing justice, not as a first resort. - Indian companies like Infosys, Tatas, and Birla foundation have incorporated principles of trusteeship through wealth sharing, employee ownership, and social initiatives.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
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    Gandhian Philosophy

    of
    Wealth
    and
    Principle of Trusteeship
    The Philosophy
    Gandhian Philosophy of Wealth Management

    • Gandhian Philosophy of wealth management is


    based on the ‘Servodaya’ principles of Truth, Non-
    Violence and Trusteeship; wherein class harmony
    between labour and management reigns supreme.

    • According to Gandhiji, managers and proprietors of


    business firms are only the trustees of wealth of
    society.
    Gandhian Philosophy of Wealth Management

    • The idea of trusteeship advocated by Gandhiji, is based on


    and has its origin in the Bhagaved Gita-in the principles of
    ‘aparigraha’ (non-possession) and ‘Sambhawa’ (equalism)
    which were ardently followed by Mahatma Gandhi.

    • Unlike the Utilitarian motto of ‘greatest good of the


    greatest number’ known as Teleology, Gandhiji’s motto was
    ‘greatest good of all’.
    Gandhian Philosophy of Wealth Management

    Trusteeship, as applicable to the corporate world,


    refers to the act of holding and managing resources
    on behalf of the stakeholders of the firm.
    Gandhiji’s views on labour management relations

    • My ideal is that capital and labour should


    supplement and help each other.
    • They should be a great family living in unity and
    harmony;
    • Capitalists not only care for the material welfare
    of the labourers, but their moral welfare also
    Gandhiji’s views on labour management relations

    • Gandhiji assigned a paternalist role to management in their dealings


    with labour.

    • Gandhiji considered trade unions to be means of workmen’s material


    and moral development.

    • He declared that a strike is an inherent right of the working man for the
    purpose of securing justice, but they must be considered a crime
    immediately if the capitalists accepts the principle of arbitration.

    • If conflict arises between labour and management, the weapon


    proposed by Gandhiji is Satyagraha
    GANDHIJI’S PRINCIPLE OF TRUSTEESHIP

    • Trusteeship principle is foundation of philosophy of


    wealth management

    Principles of Trusteeship
    – No recognition to right to individual property
    – Resources must be held and utilised for the benefit of society.
    – Management is the trustees of the stakeholders and must work
    towards optimising stakeholder value, not merely maximising
    shareholder value
    Gandhiji’s principle of Trusteeship

    – In case of industrialist what they produce should be


    determine by social necessity with optimal utilization of
    scarce resources and not by personal whims

    – If workers are to work with harmony and collaboration with


    management then that make workers also co-trustee with the
    management

    – Though wealth legally belongs of owners of business, morally


    belongs to society and community
    Seven greatest Sins

    • Politics without principles


    • Education without character
    • Commerce without morality
    • Pleasure without conscience
    • Wealth without work
    • Science without humanity
    • Worship without sacrifice
    Relevance of Gandhian Philosophy in recent times

    • Yes or No
    • Why?
    Indian Corporate Leaders and Trusteeship

    • Infosys, particularly from its former CEO and current chief mentor,
    Narayana Murthy for creating this company along with a small group of
    people (better sharing of wealth in society), the involvement of employees
    in the company’s fortunes and his contentment with a mere 7% of company
    stock (he prefers it that way) reflect a deep-rooted commitment towards
    trusteeship.

    • House of the Tatas with their corporatised initiatives for socio-corporate


    benefits

    • “WIPRO Cares” Foundation, with a targeted corpus of Rs 100 crore for


    primary education;

    • Birla foundation with its focus on socio-economic improvement in the lives


    of the people touched by the corporation.
    Thank You

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