Preview

Ajnt

Better Essays
Open Document
Open Document
13483 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Ajnt
As its operations have expanded to new geographies, the Tata Steel Group has retained a collective focus on the various areas of corporate sustainability that impact people, environment and the society at large. Founded on the philosophy that society is not just another stakeholder in its business, but the prime purpose of it, the Company, across its various operations is committed to making a positive contribution in a number of ways. As a policy, Tata Steel promotes and encourages economic, social and educational development within its communities while also giving active support to local initiatives. Its mammoth social outreach programme covers the company-managed city of Jamshedpur and over 800 villages around it through upliftment initiatives in the areas of income generation, health and medical care, education, sports, and relief.

It is these words of Jamsetji Tata, Founder of Tata Steel that have shaped the Company’s culture of social responsibility. At Tata Steel, the benefits of wealth creation extend beyond the business, flowing into the communities in which the Company operates. Tata Steel’s approach to business has evolved from the concept that the wealth created must be continuously returned to society. The responsibility of combining the three elements of society – social, environmental. and economic – is of utmost importance to the way of life at Tata Steel. It is the combination of these three elements that ensures that business is sustainable for all stakeholders. The Tata Steel Vision aspires to make it the global steel industry benchmark in Value Creation and Corporate Citizenship. This concept in Tata Steel has evolved considerably over the years and been reinforced through goal setting, measurement and reporting across the organisation. Responding to the challenges of our time, Tata Steel has adopted an approach of value creation through sustainability, for all its stakeholders. From the earliest days, Tata Steel has

You May Also Find These Documents Helpful

  • Powerful Essays

    Businesses, specifically larger corporations, play a major role in what occurs in society therefore, they are responsible to their stakeholders not only to pursue economic goals but the greater social good as well. Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. (Lawrence, 2010). Social responsibility is becoming the norm so much so that some businesses have incorporated it into their business model. There are three components of the bottom line of social responsibility in business: planet, people, and profitability (3P). This is also the formulation of the triple bottom line, or TBL.…

    • 4314 Words
    • 13 Pages
    Powerful Essays
  • Better Essays

    Robin Hood Case Study

    • 3673 Words
    • 15 Pages

    Carpenter, Mason, Talya Bauer, and Berrin Erdogan. "Corporate Social Responsibility." Principles of Management. Vol. 1.1. N.p.: Flat World Knowledge, 2013. 326. Print.…

    • 3673 Words
    • 15 Pages
    Better Essays
  • Powerful Essays

    We are living at an age where the customer or the consumer has been brought at the center stage of business enterprises. This consciousness has been necessitated by the rudiments of marketing which stipulate that every product or services should be innovated with the customer in the mind. But beyond providing these goods and service there has also emerged the need to care about the welfare of the consumers in terms of their health, environment, education and general wellbeing. Corporate social responsibility has come up to fill this gap. In this discourse, we are going to look at International Business Machines (IBM) and its social responsibility initiatives.…

    • 1301 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    There is more than one definition for corporate social responsibility. One way in which it can be defined is the obligation of organization management to make decisions and take actions that will enhance the welfare and interests of society as well as the organization (Daft, 2003). In other words, corporate actions have social implications, and managers have a responsibility to act in ways which benefit society as well as the organization (Body, 2005). The difficulty that most companies of today are facing is that investing money in order to become more socially responsible may benefit one of the company’s…

    • 537 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Gone are the days when the primary focus of all business organizations was profit maximization and to be the no 1.Today the principles of triple bottom line i.e people-planet-profit (having replaced the double bottom line) , sustainability, corporate citizenship and corporate social responsibilty have occupied the center stage of all business processes.Apart from the interests of shareholders,it is imperative to take into account the stakeholders too that include workers, clients, suppliers, environment, the community and the future generations.The performance of an any organization is not just gauged by its performance on the bourses but parameters like:…

    • 1502 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Social Responsibility is the new buzz word in the world of business. “It’s no longer a question of if companies should engage in [corporate social responsibility]. It’s now a question of to what extent will they do so […], “says Alison DaSilva, executive vice president for research and insights at Cone Communications (Brooks). The question, however, is not whether or not companies should be socially responsible, but how is that society defined and how is that social responsibly determined. In their debate on social responsibly of business, John Macke and T.J. Rodgers are not in disagreement about the implementation of the concept.…

    • 635 Words
    • 3 Pages
    Good Essays
  • Best Essays

    Global Food Norms

    • 3165 Words
    • 13 Pages

    Furthermore, it created a sustainable development model for corporations. In regards to the labour and community practices, company A had 5 categories that addressed social issues, which led to new approaches towards employees. It especially raises awareness amongst common issues in the cocoa industry, such as child and forced labour (Padmankshi, Platts and Gregory 19). On the other hand, company B is a much bigger corporation that was not found in the principles of CSR; however, it later on decided to add concerns on environmental, social and economic sectors. This modified the founder’s concept of ethics and responsibility (Padmankshi, Platts and Gregory 19). At this point the company starts looking after society, which is a great improvement in the accountability process. These two companies are greater examples on TNCs “voluntary action” in working towards sustainability. However, TNCs “goodwill alone has proved insufficient to the task of protecting human rights and the environment” (Action Aid Internation 41). One of the major reasons is the business logic applied by many companies who in “theory” are doing something, but in reality no changes have been made. The implementation of CSR is more practical than theoretical (Padmankshi, Platts and Gregory 19). Currently, it is estimated that out of the “64,000 TNCs operating today,…

    • 3165 Words
    • 13 Pages
    Best Essays
  • Powerful Essays

    Tata Steel Strategy

    • 7920 Words
    • 32 Pages

    References: Dhawan R., Roy P., (2010) The new world of Tata Steel: Will the most exciting phase of the company be also its most defining one?…

    • 7920 Words
    • 32 Pages
    Powerful Essays
  • Powerful Essays

    2. Tata Steel is part of the Tata Group of companies and like any other group companies, it is known for its good corporate governance, transparent system, employer friendly atmosphere and excellent Corporate Social Responsibility (CSR). Therefore, the questions which trouble are “why did Tata Steel require a change?” and “how was the change managed and was it difficult?”. To understand how the winds of change took place at Tata Steel and what were the hurdles, as well as the strategy to overcome them, it is essential to understand the History and Culture of Tata Steel prior to implementation of change in 2005-2006.…

    • 4847 Words
    • 20 Pages
    Powerful Essays
  • Good Essays

    Csr Case Study

    • 6604 Words
    • 27 Pages

    Abstract: Starting from the times of barter system to today’s modern era of plastic money, the mankind has trodden a remarkably long path. Undoubtedly “profitability” has always been the driving force and an undercurrent behind all this development; but as every coin has two facets; growing cut throat competition and business rivalries started taking heavy toll on the quality, transparency, environment and the society in general endangering the peaceful coexistence of business and society. The businesses houses started realizing that they would have to rise over and above the profitability and take care of all those associated with their survival in the society directly or indirectly. This realization resulted into the concept of Corporate Social Responsibility (CSR). This research paper moves around developing an understanding about the corporate social responsibility (CSR), delving into its concept and finding out its scope taking the case study of the TATA Group under Mr. Ratan Tata who has exemplified the sense of responsibility towards the upliftment of common masses and protection of the environment and development of the nation. Keywords: Corporate citizenship, Corporate social responsibility, Employee, Productivity, Profitability, Society, Stakeholders. I. Introduction…

    • 6604 Words
    • 27 Pages
    Good Essays
  • Powerful Essays

    organization has established itself as a leader in markets such as the airline industry, hotel, software, investment, and steel industry. There is a long history of corporate responsibility within the group, and it is no surprise that all Tata companies have adopted a Tata Code of Conduct as well as many international standards. Tata Steel is one of twenty-eight major corporations within the Tata Group. Founded in 1907, it is the largest private sector steel company in India. Operations are spread across the country, with the steel manufacturing unit at Jamshedpur, and other manufacturing and mining activities situated in the states of Jarkhand and Orissa at eight locations. The Tata Group headquarters is based in Mumbai, Maharastra.…

    • 2226 Words
    • 9 Pages
    Powerful Essays
  • Best Essays

    Berjaya Corporation Berhad

    • 3132 Words
    • 11 Pages

    At Berjaya Corporation group of companies, they believe that being a social responsible company can bring a balance between profitability and communities they operate. Due to their business, Berjaya companies almost in touch with society daily needs. Therefore, Berjaya always encourage their staff to take part in the Group’s Corporate Social Responsibility (CSR) activities. Over the years, Berjaya Corporation had planned many charity projects, fund-raising events and donations as a social commitment towards the society.…

    • 3132 Words
    • 11 Pages
    Best Essays
  • Powerful Essays

    The Holding Company’s Board of Directors is responsible for the preparation of these consolidated financial statements in terms of…

    • 28085 Words
    • 455 Pages
    Powerful Essays
  • Powerful Essays

    The Company believes that a clear sense of the Tata Values and Mission allows it to achieve immense clarity on its role for the future. JUSCO intends to rise to the challenge of meeting India's need for infrastructure development in a sustainable manner by anticipating and addressing the country's growth needs such that the ability of future generations to meet their own needs is not compromised.…

    • 6664 Words
    • 27 Pages
    Powerful Essays
  • Powerful Essays

    4666666666666666666666666

    • 4010 Words
    • 17 Pages

    A Tata company’s management practices and business conduct shall benefit the country, localities and communities in which it operates, to the extent possible and affordable, and shall be in accordance with the laws of the land.…

    • 4010 Words
    • 17 Pages
    Powerful Essays

Related Topics