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In ancient Indian corporate organizations, what was the purpose of the institution called 'Sreni'?
  • a)
    To maintain armies for defense
  • b)
    To engage in long-distance travel and trade
  • c)
    To establish educational institutions
  • d)
    To create non-profit organizations
Correct answer is option 'B'. Can you explain this answer?
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In ancient Indian corporate organizations, what was the purpose of the...
The 'Sreni' played a role in engaging in long-distance travel and trade, indicating the early use of partnership-like forms for business activities.
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In ancient Indian corporate organizations, what was the purpose of the...
Purpose of the Institution 'Sreni' in Ancient Indian Corporate Organizations

Engaging in Long-Distance Travel and Trade:
- The primary purpose of the institution called 'Sreni' in ancient Indian corporate organizations was to engage in long-distance travel and trade.
- Srenis were essentially guilds or associations of merchants and craftsmen who came together to facilitate and expand their trading activities.
- These guilds played a crucial role in promoting commercial activities, fostering economic growth, and facilitating the exchange of goods and services across different regions.
- By pooling resources and expertise, Srenis were able to undertake long-distance trade expeditions, establish trade networks, and conduct business transactions efficiently.

Supporting Economic Development:
- Srenis also played a significant role in supporting economic development by promoting entrepreneurship, innovation, and specialization in various industries.
- These guilds provided a platform for artisans, traders, and other skilled individuals to collaborate, share knowledge, and improve their craft.
- Through collective action and mutual cooperation, Srenis helped in the development of markets, the standardization of prices, and the regulation of trade practices.

Preserving Cultural Heritage:
- In addition to their economic functions, Srenis also played a role in preserving and promoting cultural heritage through the patronage of arts, crafts, and traditional knowledge.
- Many guilds were involved in the establishment of educational institutions, temples, and other cultural centers that contributed to the enrichment of society and the promotion of learning.

Conclusion:
- Overall, the institution of 'Sreni' in ancient Indian corporate organizations served as a vital mechanism for promoting trade, supporting economic development, and preserving cultural heritage.
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In ancient Indian corporate organizations, what was the purpose of the institution called 'Sreni'?a)To maintain armies for defenseb)To engage in long-distance travel and tradec)To establish educational institutionsd)To create non-profit organizationsCorrect answer is option 'B'. Can you explain this answer?
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