How do caste and kin networks contribute to the success of a business?
Answers
Answer:Mark as best
Explanation: The cast and kin networks contributed to the success of business in following ways -
a) In pre-colonial period India had extensive trade connection within and outside country. These were based upon trust, loyalty and understanding prevailing within communities. Some of these communities had their own system of banking and credit, like Hundi system.
b) "Jajmani system" was a kind of non-market exchange system which existed in many villages and regions during pre colonial period also. In this system the villages were incorporated into wider networks of exchange through which agricultural products and other goods were circulated.
c) The Nattukotai Chettiars of Tamilnadu are an example of indigenous trading networks that organised and worked during colonial period. Study of this community during that period shows that how it's banking and trade activities were deeply embedded in the social organisation of the community.
Answer:
Caste and kin networks have contributed to the success of a business.
Explanation:
Merchant groups did trade in India and outside the country as well. A merchant of one part of a country was allowed to give a Hundi that would be respected by a merchant of another part of the country. Hundi was a kind of credit note instrument.
Business was done within the social structures which was the result of structures of caste, kinship and families who did all the commercial activities. Banks were mostly family firms that were joint.