Report on ethical practices of TATA Group (India)
Abstract:
The Tata Group is one on India's most respected business houses founded on ethical values originated by the founding father Jamsetiji Nusserwanji Tata.
Its five core values are integrity, understanding, excellence, unity and responsibility. Its main focus is on social responsibility and ethical business practices.
It is committed to giving back to the society and improving the quality of life as well as contributing to environmental sustainability. It has a well established code of conduct and a business excellence model. The HIV/AIDS programme is an example of some of the socially responsible projects undertaken.
Introduction:
Man is a social animal who has derived certain principals to govern his own individual behavior. Theses rules may very from one culture to another. Behavioral standards help in the survival of a community or a social group. These behavioral standards are known as "ethics".
Ethics are the standards of right and wrong that influence behaviour. [1] [2]
Organizations and Ethics:
Ethics is defined as that which constitutes good and bad human conduct and as that which decides what is good and evil, right and wrong and thus what we ought and ought not to do. It is often hard to determine if a particular act is ethical as ethics vary from one country to another. For example accepting a gift is ethical but accepting a bribe is unethical.
As in other social entities ethics are inevitable in organizations. Research shows that ethics do pay. Unethical practices cost industries billions of dollars a year. [1] [2]
Corporate social responsibility:
Corporate social responsibility involves the economic, legal, ethical and philanthropic expectations placed by society on an organization.
When analyzing an organization from the corporate social responsibility (CSR) point of view, it's advisable to analyze the corporate social responsiveness of the organization.
Corporate social responsiveness refers to the action plan of an organization's corporate social responsibility policy.
Corporate social responsiveness refers to the capacity of an organization to respond to social pressures.
Company Profile:
The TATA Group is a giant family business that dominates the Indian markets. The group comprises of 91 operating companies in seven business sectors. These sectors are as follows, information systems and communications; engineering; materials; services; energy; consumer products and chemicals. [3]
The group was founded by Jamsetiji Tata in the last quarter of the 19th century. During this period India was in the process of gaining independence from the British rule. Jamsetiji Tata aligned business opportunities with the objective of national building. This approach remains in the group's ethos to this day.
The Tata Group is one of India's largest and most respected business houses with revenues in 2004-05 of $17.6 billion, the equivalent of about 2.9% of the GDP. The Tata Group employs about 2,20,000 people. It has 32 publicly listed enterprises- such as Tata steel. Tata consultancy services, Tata motors and Tata tea. [3]
Ideas and Philosophy:
The ideas and philosophy of the Tata Group originated from the founding father, Jamsetiji TATA. In 1895 he explained:-
"We do not claim to be more unselfish, more generous or more philanthropic than others, but we think we started on sound and straight forward business principles considering the interests of the shareholders, our own and the health and welfare of our employees [4]
Abstract:
The Tata Group is one on India's most respected business houses founded on ethical values originated by the founding father Jamsetiji Nusserwanji Tata.
Its five core values are integrity, understanding, excellence, unity and responsibility. Its main focus is on social responsibility and ethical business practices.
It is committed to giving back to the society and improving the quality of life as well as contributing to environmental sustainability. It has a well established code of conduct and a business excellence model. The HIV/AIDS programme is an example of some of the socially responsible projects undertaken.
Introduction:
Man is a social animal who has derived certain principals to govern his own individual behavior. Theses rules may very from one culture to another. Behavioral standards help in the survival of a community or a social group. These behavioral standards are known as "ethics".
Ethics are the standards of right and wrong that influence behaviour. [1] [2]
Organizations and Ethics:
Ethics is defined as that which constitutes good and bad human conduct and as that which decides what is good and evil, right and wrong and thus what we ought and ought not to do. It is often hard to determine if a particular act is ethical as ethics vary from one country to another. For example accepting a gift is ethical but accepting a bribe is unethical.
As in other social entities ethics are inevitable in organizations. Research shows that ethics do pay. Unethical practices cost industries billions of dollars a year. [1] [2]
Corporate social responsibility:
Corporate social responsibility involves the economic, legal, ethical and philanthropic expectations placed by society on an organization.
When analyzing an organization from the corporate social responsibility (CSR) point of view, it's advisable to analyze the corporate social responsiveness of the organization.
Corporate social responsiveness refers to the action plan of an organization's corporate social responsibility policy.
Corporate social responsiveness refers to the capacity of an organization to respond to social pressures.
Company Profile:
The TATA Group is a giant family business that dominates the Indian markets. The group comprises of 91 operating companies in seven business sectors. These sectors are as follows, information systems and communications; engineering; materials; services; energy; consumer products and chemicals. [3]
The group was founded by Jamsetiji Tata in the last quarter of the 19th century. During this period India was in the process of gaining independence from the British rule. Jamsetiji Tata aligned business opportunities with the objective of national building. This approach remains in the group's ethos to this day.
The Tata Group is one of India's largest and most respected business houses with revenues in 2004-05 of $17.6 billion, the equivalent of about 2.9% of the GDP. The Tata Group employs about 2,20,000 people. It has 32 publicly listed enterprises- such as Tata steel. Tata consultancy services, Tata motors and Tata tea. [3]
Ideas and Philosophy:
The ideas and philosophy of the Tata Group originated from the founding father, Jamsetiji TATA. In 1895 he explained:-
"We do not claim to be more unselfish, more generous or more philanthropic than others, but we think we started on sound and straight forward business principles considering the interests of the shareholders, our own and the health and welfare of our employees [4]
