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Tata Group, Big on Purpose


It’s tempting to think that all this purpose/mission/vision/values stuff is, well… “cute”. You know, it’s great when you’re young and small, and no one expects much… BUT! eventually we all gotta grow up, get real, and hate our jobs. Right?! I mean, there’s just no way a $100 Billion-dollar company could be driven by a higher purpose…

Respectfully, Tata Group disagrees.

Fun Facts about Tata [3]:

* 2016 Revenue = $103 Billion, (more than Home Depot, Bank of America, Google, Microsoft, etc…)

* 660,800 employee stakeholders

* Operates on 6 continents,

* 100+ individual companies including Jaguar and Range Rover

* 29 of the Tata companies are publicly traded

* Celebrates 150th Birthday next year :-)

Tata Group‘s Higher Purpose [1]:

At the Tata Group, we are committed to improving the quality of life of the communities we serve. We do this by striving for leadership and global competitiveness in the business sectors in which we operate.

Our practice of returning to society what we earn evokes trust among consumers, employees, shareholders and the community. We are committed to protecting this heritage of leadership with trust through the manner in which we conduct our business

Tata Group‘s Mission Statement [1]:

To improve the quality of life of the communities we serve globally through long-term stakeholder value creation based on Leadership with Trust

Tata Group‘s Code of Conduct and Stakeholders:

The Tata Code of Conduct is a comprehensive 32-page document serves as a road map and guide for how the Tata Group works with ALL of its stakeholders. [2] link

On page 5 it lists those stake holders as:

employees, customers, the communities and the environment in which we operate, our value-chain partners, including suppliers and service providers, distributors, sales representatives, contractors, channel partners, consultants, intermediaries and agents, our joint-venture partners or other business associates; our financial stakeholders; the governments of the countries in which we operate; and our group companies

Tata Group‘s Core Values [1]:

1) Integrity: We will be fair, honest, transparent and ethical in our conduct; everything we do must stand the test of public scrutiny

2) Excellence: We will be passionate about achieving the highest standards of quality, always promoting meritocracy.

3) Unity: We will invest in our people and partners, enable continuous learning, and build caring and collaborative relationships based on trust and mutual respect.

4) Responsibility: We will integrate environmental and social principles in our businesses, ensuring that what comes from the people goes back to the people many times over

5) Pioneering: We will be bold and agile, courageously taking on challenges, using deep customer insight to develop innovative solutions

Primary Source(s):

[1] http://www.tata.com/aboutus/articlesinside/Values-and-purpose, Tata Group Official Website. “Values and Purpose”, date last viewed 7/9/2017

[2] http://www.tata.com/pdf/tcoc-booklet-2015.pdf, (2015). “Tata Code of Conduct 2015”

[3] http://www.tata.com/aboutus/sub_index/Leadership-with-trust, “Tata Group Profile”, date last viewed 7/9/2017

http://www.tata.com/htm/Market-capitalisation-of-Tata-companies.htm

http://www.tata.com/htm/Group_Investor_GroupFinancials.htm

Source(s) Disclaimer:

We have a strong preference for primary sources (i.e. direct statements issued from the company) when citing purpose/mission/vision/values. We believe that the wording and availability of these statements are THE BEST indicator of the company’s commitment to operating a purposeful organization. Often times primary sources are not easily accessible via normal channels (books, official websites, social media, sec filings, job postings, executive interviews, etc.) and must we reluctantly rely on secondary sources (aka hearsay). We caution against relying too heavily on information from secondary sources. Please contact us at info.campfireconsulting@gmail.com with any comments, corrections, or updates.

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