Social factors shaped business practices from "summary" of A Business History of India by Tirthankar Roy
The business practices in India have been significantly influenced by a variety of social factors. These factors have played a crucial role in shaping the way business is conducted in the country. One such factor is the caste system, which has had a deep impact on the organization of businesses and the way in which they are run. The hierarchical nature of the caste system has often translated into hierarchical structures within businesses, with certain individuals or groups having more power and authority than others. Another important social factor that has influenced business practices in India is the concept of family and kinship. In many businesses, especially small and medium-sized enterprises, family members often play key roles and are involved in key decision-making processes. This can lead to a strong sense of loyalty and trust within the business, but it ca...
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