What do you mean by trusteeship principle of social responsibility?

The trusteeship principle of social responsibility, articulated by Mahatma Gandhi, emphasizes that businesses and individuals hold their resources and wealth in trust for the benefit of society. This concept suggests that organizations should prioritize ethical considerations and the welfare of the community over mere profit maximization. By acting as trustees, businesses are encouraged to contribute positively to social, economic, and environmental well-being, ensuring that their operations support broader societal goals. Ultimately, it advocates for a balanced relationship between profit-making and social good.