You are in: Home > Corporate > Ethics > Business Ethics

 

"We do not claim to be more unselfish, more generous or more philanthropic than others, but we think, we started on sound and straightforward business principles considering the interest of the shareholders, our own health and welfare of our employees... the sure foundation of our prosperity" – J.N. Tata

A strong focus on Value Creation and Corporate Citizenship has helped the Tata Steel Group build an enviable corporate reputation founded in honest and transparent approaches.

 

The values and principles, which have Governed Tata Steel’s business for a century, have been deployed through the implementation of the Tata Code of Conduct ( TCOC, often referred to as the 'Code' ), which was first formally articulated in 1998. This was intended to serve as a guide to each employee on the values, ethics and business principles expected of him or her in personal and professional conduct. The Management of Business Ethics is effectively instituted today in Tata Steel through its four pillars concept.

 

  • Leadership
  • System and Processes
  • Training and Awareness
  • Measurement

 

In 2008, in line with changing times and the globalisation of the Tata Group, the Code was updated in consultation with group companies around the world. The revised Code of Conduct was adopted by the Tata Steel Group Board in October 2008. It addresses contemporary issues of concern for global business along with the importance of implementing a sustainability protocol.

 

The Tata Code of Conduct - Highlights
The TCOC is a testament to Tata Steel’s determination to help its employees in every way to understand their duties and commitments towards shared values and principles. The comprehensive document serves as the ethical road map for Tata employees and Group companies.

National Interest being given foremost importance, The Code also embodies such values as clarity of communication, transparency, respect for others and an ethical approach in conducting business, all of which contribute towards building team spirit and enhance integrity in the Company’s involvement with all stakeholders.

The TCOC has added significance in the Group’s aspiration to be the global industry benchmark for value creation and corporate citizenship. It highlights the importance of group efforts in improving the quality of life of the people in the communities in which it operates. This includes the understanding that in the process of production and sale of its products and services, the Company will strive for economic, social and environmental sustainability.

In the context of Tata Steel’s increasing global presence the Tata Code of Conduct has been reviewed to accommodate required and appropriate modifications. This has ensured that diverse cultural and business related issues are addressed universally across the Group. The Tata Code of Conduct was launched in Tata Steel (Thailand), NatSteel in July 2007 and in Corus in January 2009.

Click here to view --
Complete Tata Code of Conduct  

 

All employees have a clear responsibility to implement the Code. Additionally the Code now extends to contractors and vendors, who must agree to respect it. The systems and processes are revisited and modified constantly to ensure that they are not subjected to unethical practices.

 

The Communications function of Tata Steel Group has been of supreme importance in connecting and building relationships of trust within the organisation and outside and in reflecting the aspirations and goals for the future. The senior leadership team in the Company is actively engaged in communication on business ethics at various levels and forums. The Company does not ever hesitate to take visible disciplinary actions when necessary and no violation of TCOC, however insignificant, is ever tolerated. The aim is to strengthen employee involvement in a positive and regular manner and enhance the sense of accountability.

  

Code of Conduct for Non-Executive Directors
Non-Executive Directors of a company will :

- Always act in the interest of the company and ensure that any other business or personal association which they may have, does not involve any conflict of interest with the operations of the company and his role therein.

- Comply with all applicable laws and regulations of all the relevant regulatory and other authorities as may be applicable to such Directors in their individual capacities.

- Safeguard the confidentiality of all information received by them by virtue of their position.

 

July is celebrated as ‘Ethics Month’ every year, with numerous programmes and activities. The effectiveness of all initiatives is measured by various internal and external surveys and the result of these studies are proactively incorporated in the existing system.

 

Email ID of Ethics Counsellor is ethics.counsellor@tatasteel.com