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Business ethics @ tata

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  • 1. CONTENTS Introduction Business Ethics Corporate Governance CoC & CSR TATA and Business Ethics ConclusionBusiness Ethics @ TATA Professional Practice| AP-7| 2008-12| NIFT-B 2
  • 2. INTRODUCTION • Conducting • The • The largest Corporate Governance all aspects practices, private of business principles corporate Business Ethics and and values group in that guide India. dealing TATA a company • 114 with all and its companies stakeholde business in 7 rs in an business ethical sectors mannerBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 3
  • 3. WHY TATA..? India’s largest business house India’s India’s largest oldest investor in business CSR house TATA India’s most India’s employee largest friendly private company employer India’s first “Glocal” companyBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 4
  • 4. BUSINESS ETHICS • Economic system in which goods and services are Business exchanged for one another or money, on the basis of their perceived worth. • Derived from the Greece word Ethics “ethos”, meaning character and manners.Business Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 5
  • 5. IMPORTANCEMaintains a moral course in turbulent times.Cultivates strong team-work and productivity.Supports employee growth as an individual.Helps to ensure that policies are legal.Detection of issues and violations.Quality management and Strategic planning.Business Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 6
  • 6. CORPORATE GOVERNANCE Corporate • Pertaining to corporations. • Establishment of policies, and continuous monitoring of theirGovernance proper implementation, by the members of the governing body of an organization.Business Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 7
  • 7. CORPORATE GOVERNANCEBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 8
  • 8. CoC & CSR Code of • Specifies actions in the Conduct workplace Company • Legal, ethical and discretionary (philanthropic) expectations that Social society has of an organisation at Responsibility a given point of timeBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 9
  • 9. TATA Type • Private Industry • Conglomerate Founded • 1868 Founder • Jamshetji Tata Headquarters • Mumbai, India Area served • Worldwide Key people • Ratan TataBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 10
  • 10. TATA • Automobiles, Steel Products • Telecommunications • Software, Retail • Hotels, Consumer goods etc. Revenue • US$ 67.4 billion (2009-10) Total assets • US$ 52.8 billion (2009-10) Employees • 396,517 (2009-10)Business Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 11
  • 11. TATA’S BUSINESS ETHICS PRINCIPLES National interest • Committed to benefit the economic development of the countries in which it operates. Financial reporting and records • Prepare and maintain its accounts fairly and accurately and in accordance with the accounting and financial of the country Competition • Fully support the development and operation of competitive open markets Equal opportunities employer • Provide equal opportunities to all its employees and all qualified applicants for employmentBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 12
  • 12. TATA’S BUSINESS ETHICS PRINCIPLES Gifts and donations • Its employees shall neither receive nor offer or make, directly or indirectly, any illegal payments, remuneration, gifts, donations or comparable benefits Government agencies • A Tata company and its employees shall not, unless mandated under applicable laws, offer or give any company funds or property as donation to any government agency or its representative Political non-alignment • Be committed to and support the constitution and governance systems of the country in which it operates.Business Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 13
  • 13. TATA’S BUSINESS ETHICS PRINCIPLES Health, safety and environment • A Tata company shall strive to provide a safe, healthy, clean and ergonomic working environment for its people Quality of products and services • Be committed to supply goods and services of world class quality standards, backed by after-sales services consistent with the requirements of its customers Corporate citizenship • Committed to good corporate citizenship, not only in the compliance of all relevant laws and regulations but also by actively assisting in the improvement of quality of life of the people in the communities in which it operates Cooperation of Tata companies • Cooperate with other Tata companies including applicable joint ventures, by sharing knowledge and physical, human and management resourcesBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 14
  • 14. TATA’S BUSINESS ETHICS PRINCIPLES Public representation of the company and the group • Honour the information requirements of the public and its stakeholders Third party representation • Parties which have business dealings with the Tata group but are not members of the group, such as consultants, agents, sales representatives, distributors, channel partners, contractors and suppliers, shall not be authorised to represent a Tata company without the written permission Use of the Tata brand • The use of the Tata name and trademark shall be governed by manuals, codes and agreements to be issued by Tata Sons Group policies • A Tata company shall be committed to enhancing shareholder value and complying with all regulations and laws that govern shareholder rights.Business Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 15
  • 15. TATA’S BUSINESS ETHICS PRINCIPLES Ethical conduct • Every employee of a Tata company shall preserve the human rights of every individual and the community, and shall strive to honour commitments. Regulatory compliance • Employees of a Tata company, in their business conduct, shall comply with all applicable laws and regulations, in letter and spirit Concurrent employment • Consistent with applicable laws, an employee of a Tata company shall not, without the requisite, officially written approval of the company, accept employment or a position of responsibility with any other company Conflict of interest • Employees act in the interest of the company, and ensure that any business or personal association which he / she may have does not involve a conflict of interest with the operations of the companyBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 16
  • 16. TATA’S BUSINESS ETHICS PRINCIPLES Securities transactions and confidential information • An employee of a Tata company and his / her immediate family shall not derive any benefit or counsel, or assist others to derive any benefit, from access to and possession of information about the company Protecting company assets • The assets of a Tata company shall not be misused Citizenship • The involvement of a Tata employee in civic or public affairs shall be with express approval from the chief executive of his / her company Integrity of data furnished • Every employee of a Tata company shall ensure, at all times, the integrity of data or information furnished by him/her to the company.Business Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 17
  • 17. TATA’s CSR ACTIVITIES Dedicates around 10-12% of its net profit to CSR Special provision for training and employing the local women at all its facilities Technical and Vocational Training for Youth Members Partnering with the Public and the Social Sector Sports training centre at Jamshedpur Runs a hospital in MumbaiBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 18
  • 18. TATA AWARDS & RECOGNITIONS TATA motors most valued brand of India CII Award for Corporate Sustainability Reporting Golden Peacock Global Award for Corporate Social Responsibility Hellen Keller Award for CSR Bombay Natural History Award for Green GovernanceBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 19
  • 19. TATA & CONFLICTS "Save Farmland“ movement against Fire cases in TATA Nano plant at NANO cars Singur Recent 2G Spectrum issuesBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 20
  • 20. CONCLUSION Business Ethics cultivate strong teamwork and productivity. It supports employees growth. It helps to ensure policies are legal. It promotes strong public image. It improves trust and relationships. It cultivates a greater sensitivity towards the impact of the enterprise’s values and messages.Business Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 21
  • 21. BIBLIOGRAPHY• ETHICAL CHOICES IN BUSINESS- By R.C Sekhar• BUSINESS ETHICS- CONCEPTS, CRISIS AND SOLUTIONS- BY Shyam L Kaushal• http://www.tata.com/aboutus• www. wikipedia.com/tata• http://www.tata.com/aboutus/articles/inside.aspx?artid=OMSlPyjJp68• http://en.wikipedia.org/wiki/File:Tata_logo.svg• http://www.rediff.com/money/2005/mar/17inter.htm• http://www.thehindubusinessline.com/2006/07/28/stories/20060728 01571100.htm• http://www.karmayog.org/csr500companies/csr500companies_8541.h tm• http://economictimes.indiatimes.com/quickiearticleshow/6263785.cm sBusiness Ethics @ TATA Professional Practice| AP-7| 2007-11| NIFT-B 23
  • 22. “Being good is good business.”