CSR - Tata Consultancy Services - 2013


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CSR - Tata Consultancy Services - 2013

  1. 1. 1 CORPORATE SOCIAL RESPONSIBILITY WRITTEN ASSIGNMENT ON TRIPLE BOTTOM LINE TATA CONSULTANCY SERVICES By Group 5 Group Members: Neha Kumar (A029) Rashi Kapur (A039) Sonal Rajadhyax (A050) Tarannoom Rehmani (A053) Yuvraj Tandon (A059)
  2. 2. 2 Index Page Number About TCS 3 Triple Bottom Line (TBL) 3 TCS Code of Conduct 4 TATA Groups Initiative for TBL 6 Financial Sustainability 8 Environmental Sustainability 9 Economic Value Add 10 Social Responsibilities 12 Innovation 14 Bibliography 17 Conclusion 18
  3. 3. 3 ABOUT TCS Tata Consultancy Services (TCS) is one of the world's leading information technology companies. Through its Global Network Delivery Model, Innovation Network, and Solution Accelerators, TCS focuses on helping global organizations address their business challenges effectively. The company’s Mission is: To help customers achieve their business objectives, by providing innovative, best-in- class consulting, IT solutions and services. To make it a joy for all stakeholders to work with us. The Values are: Leading change. Integrity. Respect for the individual. Excellence. Learning and sharing. The company has set & adheres to certain Code of Conducts which goes hand in hand with the functionality of Triple Bottom Line. TRIPLE BOTTOM LINE "The triple bottom line (TBL) focuses corporations not just on the economic value they add, but also on the environmental and social value they add -- and destroy. At its narrowest, the term 'triple bottom line' is used as a framework for measuring and reporting corporate performance against economic, social and environmental parameters." In its endeavour to show sustainability and growth by adhering to the above definition for Triple Bottom Line, Tata Consultancy Services (TCS) follows a strict code of conduct as described by the TATA group, which are described as:
  4. 4. 4 TCS CODE OF CONDUCT National Interest (focusing on Economic parameters) The Tata Group is committed to benefit the economic development of the countries in which it operates. No Tata company shall undertake any project or activity to the detriment of the wider interests of the communities in which it operates. 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. A Tata company, in the course of its business activities, shall respect the culture, customs and traditions of each country and region in which it operates. It shall conform to trade procedures, including licensing, documentation and other necessary formalities, as applicable. Financial Reporting and Records (focusing on Financial parameters) A Tata company shall prepare and maintain its accounts fairly and accurately and in accordance with the accounting and financial reporting standards which represent the generally accepted guidelines, principles, standards, laws and regulations of the country in which the company conducts its business affairs. Internal accounting and audit procedures shall reflect, fairly and accurately, all of the company‟s business transactions and disposition of assets, and shall have internal controls to provide assurance to the company‟s board and shareholders that the transactions are accurate and legitimate. All required information shall be accessible to company auditors and other authorized parties and government agencies. There shall be no willful omissions of any company transactions from the books and records, no advance-income recognition and no hidden bank account and funds. Any willful, material misrepresentation of and/or misinformation on the financial accounts and reports shall be regarded as a violation of the Code, apart from inviting appropriate civil or criminal action under the relevant laws. No employee shall make, authorize, abet or collude in an improper payment, unlawful commission or bribing.
  5. 5. 5 Health, Safety and Environment (focusing on Environmental parameters) A Tata company shall strive to provide a safe, healthy, clean and ergonomic working environment for its people. It shall prevent the wasteful use of natural resources and be committed to improving the environment, particularly with regard to the emission of greenhouse gases, and shall endeavour to offset the effect of climate change in all spheres of its activities. A Tata company, in the process of production and sale of its products and services, shall strive for economic, social and environmental sustainability. Focusing on Social Parameters Shareholders A Tata company shall be committed to enhancing shareholder value and complying with all regulations and laws that govern shareholder rights. The board of directors of a Tata company shall duly and fairly inform its shareholders about all relevant aspects of the company‟s business, and disclose such information in accordance with relevant regulations and agreements. Corporate Citizenship A Tata company shall be 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. The company shall encourage volunteering by its employees and collaboration with community groups. Tata companies are also encouraged to develop systematic processes and conduct management reviews, as stated in the Tata „corporate sustainability protocol‟, from time to time so as to set strategic direction for social development activity. The company shall not treat these activities as optional, but should strive to incorporate them as an integral part of its business plan.
  6. 6. 6 Equal opportunities employer A Tata company shall provide equal opportunities to all its employees and all qualified applicants for employment without regard to their race, caste, religion, colour, ancestry, marital status, gender, sexual orientation, age, nationality, ethnic origin or disability. Human resource policies shall promote diversity and equality in the workplace, as well as compliance with all local labor laws, while encouraging the adoption of international best practices. Employees of a Tata company shall be treated with dignity and in accordance with the Tata policy of maintaining a work environment free of all forms of harassment, whether physical, verbal or psychological. Employee policies and practices shall be administered in a manner consistent with applicable laws and other provisions of this Code, respect for the right to privacy and the right to be heard, and that in all matters equal opportunity is provided to those eligible and decisions are based on merit. TATA GROUP’S INITIATIVES FOR TRIPLE BOTTOM LINE The Tata group has consistently adhered to the practice of corporate governance and has initiated the process of the triple bottom line, consisting of benchmarking with global practices Corporate ethics and governance having once been edged into the backseat by blatant commercial interest, are now wending their way back into the boardroom. The Tata group, has, however consistently adhered to the practice of corporate governance for many years. The group has initiated the process of the triple bottom line, consisting of benchmarking with global practices. The triple bottom line addresses the need for a company to assume responsibility towards environment and society. The triple bottom line, a three-fold
  7. 7. 7 manifesto, constitutes a company's environmental obligation, its social responsibilities, and its financial bottom line. Traditionally, companies have followed a stringent reporting system of its financial position, whereas environmental and social obligations have been pushed onto the backburner. But the house of Tata‟s has been practicing the triple bottom line way before it became a norm with corporate houses worldwide. In the long run, it is worthwhile for an enterprise to play the game of business according to rules, even if their competitors do not. In effect, while this benefits society at large, it also helps build the community's faith in the company. The Tata group, for one, can illustrate this from its own business experiences. Bihar is a case in point. The state is a crucible of social and political unrest. Disruptive forces have made several attempts to undermine the good work done by other corporate houses, but the efforts of the Tata group have never been adversely affected. People: Sustainable Internal and External Communities More than 250,000 employees are the backbone of TCS, who are actively engaged with to drive sustainability initiatives. Externally, TCS conducts a diverse range of CSR initiatives in the areas of education & skill building, health environment and affirmative action using volunteering, sponsorships and pro bono leveraging of our IT capabilities as the modes of engagement. In addition initiatives focused at promoting supply promoting supply chain and procurement sustainability ensure the alignment of that our vendors and suppliers to the sustainability objectives Planet: Environmental Sustainability From designing sustainable infrastructure, running efficient operations, to engaging with our supply chain partners in green procurement and disposal activities; TCS takes a holistic approach towards reducing its energy, water, material, waste and carbon footprint. TCS offices as well as IT infrastructure are sustainably designed and built for maximum resource efficiency. Profit: Sustainable Marketplace In addition to ensuring sustainability of the Company‟s business performance, a dedicated eco- sustainability team works across industry verticals with an aim to provide next-generation sustainability services to customers. Integrating sustainability into business strategies and unlocking environmental efficiencies in the entire value chain is a significant value add. 27.0% Operating Margin $56.7 Bn Market Capitalization
  8. 8. 8 FINANCIAL SUSTAINABILITY Successful execution of the Company‟s strategy for sustainable growth requires investments in building capacity, in people and in new business initiatives. The ability to fund these investments either through internal accruals or from the outside is critical to business sustainability. TCS‟ business model has a financial profile characterized by strong cash generation, low capital needs, low working capital requirements, negligible debt and very attractive Return on Equity. TCS is a near zero-debt company, funding its growth entirely through internal accruals. TCS did not receive any significant governmental financial assistance in FY 2013. These are the structural attributes of TCS‟ business model which going forward are sustainable. Equally important, is the robust risk management framework with which the Company can scan the environment for potential risks to this sustainability and take mitigative steps. Strong cash flows: The Company‟s growth is financed by cash generated from operations. As of March 31, 2013, Total Shareholder‟s Equity stood at $7,659 Mn of which Retained Earnings made up $8,024 Mn. As at March 31, 2013, the Company had cash and cash equivalents of $339 Mn (FY12: $391 Mn) and Bank Deposits of $1,361 Mn (FY12: $1,295 Mn). Net Cash generated from Operations was $2,266 Mn. The Company believes that it has sufficient cash from operations to meet its working capital requirements. In addition it has short term working capital facilities with various commercial banks. As at March 31, 2013, the Company had available lines of credit with multiple banks aggregating $ 983 Mn interchangeable between fund- based and non fund-based limits ($ 821 Mn as at March 31, 2012). Independent Credit Ratings: Although historically TCS has never used debt to fund growth, the option is always available given our strong credit worthiness. An independent assessment of the Company‟s financial strength and sustainability is the credit rating assigned to TCS by various global rating agencies. Shareholder Value delivered, year after year After going public, TCS has paid out dividends to its shareholders every year, maintaining a payout ratio of around 30%. In FY 2013, the Company paid a total dividend of $0.4 (Rs 22) i.e. a payout ratio of 40% of the consolidated profits under IFRS. TCS‟ market capitalization as of March 31, 2013 was $56.7 Bn.
  9. 9. 9 ENVIRONMENTAL IMPACT As part of the Tata culture of being a responsible corporate citizen, TCS continuously strive to reduce their ecological footprint by identifying material areas and focusing on each of them strategically. TCS have defined processes and systems in order to identify, quantify and reduce the impacts on the environment, including the carbon, water, energy and waste footprint. The key pillars of the successful environment management have been senior management commitment and an integrated management systems approach guided by the TCS Environmental Policy. Green office infrastructure: TCS views green infrastructure as a key tool in the drive to reduce energy footprint, material footprint and carbon footprint. All new offices coming up are designed as per LEED Green Buildings - Gold rating. TCS already has LEED Certified Green Buildings at Chennai, Bhubaneswar and Trivandrum. The other upcoming facilities at Hyderabad, Pune and Ahmedabad are also designed at higher resource efficiency levels. Some key features of the TCS green buildings include onsite renewable energy (solar photovoltaic panels), solar thermal installations, improved energy efficiency, chiller waste heat recovery units, solar PV based peripheral lighting systems, etc. In FY 2013, TCS increased its solar water heater capacity by 55% over 2011-12 (Figure 20), thereby helping reduce the energy used in heating water for use in kitchens and gymnasium washrooms. Green IT: TCS has undertaken a series of initiatives to reduce the energy footprint of our data centres and computer workstations, such as server virtualization and consolidation, data center power management, server cooling load management, shift to blade servers, procurement of energy-star rated equipment, remote desktop control, desktop virtualization projects to help reduce the energy consumption further by consolidating individual CPU loads on a single server for load optimization, etc. 40% Reduction in per capita carbon footprint 76% Reduction in per capita paper consumption
  10. 10. 10 Energy audits: TCS has taken up the internal energy audit projects at various locations to identify potential energy efficiency projects to come up with all possible innovations and ideas to improve the energy performance of the older buildings. Operational energy efficiency: Operational controls have been put in place and are monitored on an ongoing basis, including: Optimization of HVAC operating hours to ensure energy saving without compromising on employee comfort Temperature regulation in work areas at optimal comfort levels Rationalization of illumination levels in conformance to applicable building and energy efficiency codes Installing Variable Frequency Drives (VFD) in air handling units Power Factor management Minimizing use of energy intensive lighting Auto hibernation software patches for switching off of monitors when not in use Employee engagement through awareness drives and visual communication methods, etc. ECONOMIC VALUE ADD Direct and Indirect Economic Impact: The most significant, direct economic impact TCS has is the productivity benefits that clients gain from the automation of their various business processes using the IT applications. Greater cost-efficiency and productivity at a firm-level translates into higher productivity for the larger economy. Therefore, TCS has had a significant role in the transformational phase of the global economy, marked by significant productivity gains from the deployment of IT. The productivity benefits from the Company‟s IT-related work directly translate into community benefits when TCS engages with various governments to digitize their operations, particularly in the area of citizenry services. Examples of TCS‟ exemplary service include an end to end IT solution to successfully automate the National Rural Employment Guarantee Act (NREGA) scheme in Andhra Pradesh. The Company does not believe that any part of its operations has a potential or actual negative impact on the communities with whom it works. TCS‟ profitable global operations result in payment of corporate taxes applicable in multiple countries. Thereby, funding the governments indirectly to help improve the quality of their civic services. Tax expense relating to overseas operations is determined in accordance with tax laws applicable in countries where such operations are domiciled and provided for. In FY 2013, TCS provided for a total tax expense of $741 Mn, distributed across over 50 countries. Based on NASSCOM‟s figures for the entire sector, it is estimated that TCS contributed 0.75% to India‟s GDP and TCS‟s share of India‟s exports in FY 2013 is over 3%.
  11. 11. 11 Direct and Indirect Employment: TCS‟ strategy of a distributed delivery capability, tapping into the local talent in each delivery location has resulted in a largely balanced, positive economic impact through employment generation both direct and indirect. Direct employment results in the creation of tens of thousands of white-collar jobs, broadening the tax collections at the local, state and central levels. Each delivery center has over a thousand employees. The construction of these massive campuses employs architects, engineers and construction workers. Once the facility is commissioned, the center opens up tremendous local employment opportunities for skilled workers while the vendor-partners hire housekeeping staff, security guards, drivers, gardeners, maintenance workers, chefs, cafeteria staff etc. The creation of these jobs creates a massive demand for local housing in the surrounding areas Moreover, the beneficiaries of these net new jobs are often young (median age of the workforce: 28 years) and therefore tend to display high consumption patterns, benefiting local businesses and by extension, the local economies. All in all, it is conservatively estimated that we generate 32 indirect jobs for every 10 direct job Taking these indirect jobs into account, TCS‟ consolidated, global employment generation footprint is estimated at over 870,000. Infrastructure Development The setting up of delivery centers promotes infrastructure development to accommodate the resultant growth within the communities. Local municipalities respond to the growing needs of the community. An improvement in transport infrastructure and connectivity as well as an improvement in electricity and water supply is expected outcomes of this growth. Private and public sector partners respond to these developments by offering their services in areas including telecom, healthcare, education etc. Broad based Regional Development: Historically, the emergence of the Indian IT industry occurred in the four large metropolitan cities of New Delhi, Mumbai, Chennai and Kolkata. Further expansion to Bangalore and Hyderabad occurred with a view to take advantage of the available engineering talent and supporting infrastructure. Recognizing the multiplier effect that the IT-BPO industry has on local economies, various state governments are encouraging IT companies to establish centers in smaller cities. This is to broad-base the resultant economic development beyond just the Tier I cities With a view to leverage benefits of low costs and a motivated local workforce, the IT-BPO industry has started establishing centers in Tier II and Tier III cities TCS has been leading this foray with headcount in Tier II/III cities* steadily growing as a percentage of our total India headcount over the last 4 years. $10,075 Mn Investment in CSR initiatives 32.4% of women in the workforce
  12. 12. 12 SOCIAL RESPONSIBILITIES Adult Literacy Programme: TCS‟ Adult Literacy Programme (ALP) is among the first instances of using IT Core Competence for social causes, and since its inception in 2000 continues to be a flagship programme of TCS CSR. The ALP has reached 1, 93,625 beneficiaries. The software is available in 9 Indian languages. The ALP software in Arabic was completed in December 2012. This is the third foreign language offering after Northern Sotho (South Africa) and Moore (West Africa). TCS MEA is currently developing a plan for deployment. A new website for ALP (www.tcsion.com/alp) was recently created as a one-stop shop for all information related to the ALP, with provision for registration, tracking and monitoring of users as well as gathering feedback. In FY 13, the programme reached 11,125 people and through TCS‟ partnerships with NGOs and academic institutions, 473 trainers were capacity built to conduct ALP programmes in Telugu, Hindi, Urdu, Odia and Marathi. Hindi ALP was deployed among the jail population in Lucknow and New Delhi. In FY 13, the ALP reach in New Delhi increased from 3 Jails to 10 jails. At Tihar Jail, New Delhi, a total of 300 inmates have been made literate through this programme. IT Core Competence: TCS has a dedicated team which provides end to end consultancy and architected comprehensive solutions for social organizations. The focus has been on using technology as a key enabler to assist and resolve business challenges faced by these organizations. Retina India Foundation is an NGO focused on patient care for visually challenged persons in India. TCS has prepared the prototype for a National Retina Disease Registry System and is working on creation of a retinopathy patient database. Justice and Care is an international NGO supporting victims of Trafficking. A prototype for the Case Management System for monitoring trafficking cases and collaterals to assist the management team in visualizing the Case Management System has been prepared and showcased to the organization. Operation Smile is an international NGO which provides free surgery for cleft lips, cleft palates and other facial deformities to economically backward children. TCS conducted a feasibility study during the visit to the organization‟s Guwahati center in FY 13 and prepared a prototype for Patient Care System for tracking patients, with visual collaterals. Impact India Foundation focuses on reducing disabilities among marginalized people through curative and preventive measures. TCS customized and deployed a Donor Management
  13. 13. 13 System (DMS) addressing Impact's donor management needs and prepared a process document for their Community Health Initiative programme. This document has been showcased to the Health Minister of India and has been sent to the Office of the Prime Minister of India. CHILDLINE India Foundation works to ensure children‟s rights and the protection of children. TCS customized and deployed a DMS addressing Childline's Donor Management needs. Mumbai Mobile Crèches provides support to workers at construction sites. TCS is involved in training and support for inventory and DMS. The TCS team also worked on configuration of the Donor Management System and supporting MMC Infrastructure upgrade. Operation Smile is an organization that provides free surgery to repair cleft lips, cleft palates and other facial deformities in children throughout India. TCS is working on creating an MIS for the organization.For Internal Circulation only 10 Tata Medical Centre: TCS has designed and implemented a comprehensive Hospital Management System and IT Infrastructure for Tata Medical Centre (TMC) in Kolkata that provides cancer treatment to patients in eastern India. TCS continues to support IT infrastructure of TMC. In FY 13, TCS provided TMC with pro bono IT services valued at INR 4.2 crores. Med Mantra for Cancer Institute in Chennai - An integrated Hospital Management System along with IT infrastructure including a comprehensive and fully integrated, web-based solution has been provided free of cost to the Cancer Institute at Chennai. TCS Med Mantra strives to enhance the quality of care that this landmark institution provides to over 130,000 patients every year. FY 13 marked the successful implementation of all 17 modules of Med Mantra which were then transitioned to a support mode. The final phase of the TCS Med Mantra installation was completed in March 2012 and it now records all details of the patient in Cancer Institute from registration to discharge. TCS financially and intellectually sponsored the entire project from design to implementation. 125,000 consultations performed in FY13, an increase of 25% from FY12. 100,000 Laboratory investigations ordered in FY13, an increase of 70% from FY12. It indicates an increased adherence by Doctors towards Med Mantra HMS. Since December 2010 till date, 160,000 doctor consultations and 42,000 patient registrations have been managed through Med Mantra. TCS is currently providing complete end-to-end support both from onsite at Chennai and offshore at Hyderabad. New features including Clinical Lab Equipments Integration, Bar Code Printing, Cancer Registry were delivered to Cancer Institute yielding significant benefits. ab equipments integration resulted into increased operational commitment towards Med Mantra.
  14. 14. 14 Innovation: TCS R&D continues to attract top research talent from India and across the world. The Company continues to support sabbaticals, internships and PhD sponsorships in research areas relevant to the Company as well as in premier academic institutions. Research based competencies have been introduced in the Company‟s learning portal. Affirmative Action: Enhancing employability skills and generating employment opportunities– In 2010, TCS initiated a programme to train economically and socially disadvantaged candidates for BPO jobs and then absorb some of them based on the company‟s requirements. Since the program‟s inception, TCS has trained 22,236 underprivileged graduates of which 7,681 are from the SC/ST categories. The programme now reaches rural areas across 152 locations in India. Over 1,883 of these beneficiaries are today TCS - BPO Associates. The efficiency of the programme has seen a marked improvement, with a consistently higher percentage of trained students joining TCS. During FY13, the team trained 10,819 candidates of which 2,501 were SC/ST. 827 of the trained candidates joined TCS-BPO. TCS has developed a Faculty Development Programme focusing on Industrial Training Institute (ITI) Instructors of the COPA (Computer Operator cum Programming Assistant) course. This programme seeks to improve the quality of training in courses run by these Instructors. In FY 13, 48 instructors were trained and certified in Kolkata, Bangalore and Mumbai. TCS Pune sponsored the education of 40 Dalit children in hostels run by Manuski. Additionally, TCS provided water filters, computers and a broadband connection within the Girls Hostel and helped set up a library for the Boys Hostel. The Pune branch has recently initiated project level involvement with the Manuski Hostel Project to increase TCS‟ contribution to the initiative. TCS also contributes towards scholarships through the Foundation for Academic Excellence and Access (FAEA) to help SC/ST students studying in professional courses. TCS is engaging with the FAEA to ensure suitable employment of TATA Scholars post their education, on behalf of the Tata Group. Employability programmes: In April 2012, Project “Udaan” an employability training programme for youth of Jammu and Kashmir, in association with the National Skill Development Corporation, Govt. of India to help Kashmiri youth join the mainstream of corporate India was launched at Kolkata. TCS endeavors to catalyze the Kashmiri youth connect with Indian industry, coupled with polishing their skills
  15. 15. 15 thus making them more employable. TCS has partnered with NSDC in this promising initiative and is the first organization in India to sign the MOU with NSDC. TCS designed and developed a 14 week training programme. TCS has completed deployment of 2 batches of training successfully and offered employment to 119 candidates. GoIT: In North America, TCS‟ GoIT programme provides in-school IT career and awareness workshops, and hands-on technology education to high school students and is conducted free of cost. The programme is aimed at getting students interested in IT careers. In FY 13 GoIT targeted 5 schools for enhanced curriculum collaboration. For Internal Circulation only 11 Since its inception in 2009, GoIT has evolved from a two-school camp to a year-long program and has impacted over 2,000 students across 40 school districts. 2 Schools have expanded their technology education courses & 4 schools have been assisted with curriculum reviews. In FY 13, TCS launched „Go for IT‟ in Australia, which is a 1 week structured and intensive work placement initiative designed to encourage girls to consider IT as a career. This year, the programme is being incorporated in ongoing school programmes e.g. sessions in schools on working in the IT Sector, guest speakers on special topics. Web Health Centre: This is a healthcare portal offering online medical consultation and comprehensive healthcare information. It offers a virtual home for patients and doctors to restore their information, and record databases for cross referencing. WHC is free for browsing through general content like health calculators, drug information, disease details, etc. It also provides online consultation, accessing online health and medical record storage facility etc., for which one needs to register. Partnerships over charity It has never been the objective of Tatas to indulge in mere charity. Rather, they have helped and guided villagers on the basis of partnerships. The village folk contribute land and labor towards their various projects, while Tata experts guide them in water harvesting, and improving cultivation, animal husbandry, etc. Three years ago a casual trip was made for a prayer ceremony to one of the villages on the banks of the Kharkai, a river near Jamshedpur. Little did the rural community realize then that this would be a turning point for economic prosperity in their community. While the village had a beautiful view of the factories at a distance, the immediate reality their farming systems was at least 100 years old. The nearby industry had not impacted their lives. Eventually, the villagers were made to see all that they could gain from a prosperous society. They were coaxed into allowing water pumps and other modern agricultural equipment to aid
  16. 16. 16 them in their work. As a result of this initiative, the villagers now enjoy two crops a year, as opposed to a single harvest in the past. A single profitable industry helped expand the scope of its prosperity by sharing knowledge and benefits. Corporate governance is in keeping with the Tata Business Excellence Model, which was instituted seven years ago. This model focuses on the efforts of Tata companies in helping and making a positive difference in the communities in which they exist. Nowadays, many non-governmental organisations are actively involved in ensuring that companies behave in a socially acceptable manner. People for the Ethical Treatment of Animals, for instance, has taken up cudgels against the Tata group's leather unit, for alleged cruel treatment of cattle in India without realizing that the company imports leather from China and other countries! The message, however, is clear. In future, communities will pronounce judgment on the initiatives and activities of corporate houses. Unlike some other countries, this may take a long time to happen in India. Ultimately (as has already happened abroad), communities will sanction industries to exist within their boundaries, and shareholders will invest only in companies that are conscious of their responsibilities towards the environment and social development.
  17. 17. 17 BIBLIOGRAPHY www.tata.in www.tcs.com www.ultimatix.net/ http://www.tcs.com/SiteCollectionDocuments/About%20TCS/TCS-Corporate-Sustainability- Report-2012-13.pdf
  18. 18. 18 CONCLUSION Thus, in today's business world, showing accountability only from an economic perspective is not sufficient. It is required that the company should show its accountability from economic, environmental and social perspectives too, as it helps its various stakeholders to learn, understand and appreciate the different programmes and initiatives that the company is engaging in from time to time. Even though economic sustainability and growth is the prime concern of every organization, if we were all to go by the maxim - "Business of Business is Business", increasing awareness amongst people makes it imperative that organizations show that they care for the surroundings in which they operate, besides just focussing on economic profits and maintaining a good bottom line. Thus, TBL is incorporated as an accounting framework that involves three dimensions of performance - social, environmental and financial. TCS is a part of the Tata Group of Companies, and the flagship company has incorporate the TBL framework within its working at that point in time when very few Indian companies were aware of this concept. It has had to undergo an overhaul of its Code of Conduct to ensure that every person in the organization through his/her work performance, behaviour and demeanour abides and imbibes values that help it to achieve the goals established by the Triple Bottom Line. TCS in its endeavour to provide sustainability and to depict growth to its stakeholders and shareholders, has adopted the flagship company's policies in its functioning. Its initiatives in all the dimensions - economic, social and environmental stand proof to the fact that by adopting the Triple Bottom Line framework, the organization has not only registered profits for itself, but has also made a significant contribution to the environment and to the people, as a whole.