Mumbai: Tata Steel and Wipro have been named among the world's most ethical companies by an American think tank, Ethisphere Institute.
The Ethisphere Institute's annual World's Most Ethical Companies (WME) list revealed that 145 companies in countries including the US, Great Britain, Japan, Portugal and India stood out for setting high standards of employee behaviour and conduct.
Ethisphere evaluated about 5,000 global companies, including those in Standard & Poor's 500 index on reputation, corporate citizenship, culture and other qualities.
Ethisphere's annual list of the WME recognises companies that truly go beyond making statements and conduct business ethically by translating words into actions.
Mr H.M. Nerurkar, Managing Director, Tata Steel, said ethical business principles and practices have been the key differentiators of Tata Group and Tata Steel since inception.
In 1998, the Tata Group developed its first Code of Conduct, which was articulation of its values and business principles followed by its employees since the inception of the group and the company, Tata Steel said in a press release.
The process for implementation of Tata Code of Conduct in the company involves engagement with different global partners of the company including Corus, NatSteel and other companies. The revised version of the Code, Global Tata Code of Conduct, was launched by the Group's Chairman in 2008, it said.
The research-based Ethisphere Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability.
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Showing posts with label Tata Steel. Show all posts
Showing posts with label Tata Steel. Show all posts
Tuesday, March 20, 2012
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Tata Steel tops list of most-admired companies
Mumbai: Tata Steel topped the list of India's 50 most-admired companies in a survey compiled byFortune Indiaand global management consultancy Hay Group.
The list of admired companies was prepared on the basis of a survey of 507 executives across 291 companies.
The survey was carried out between October 2011 and January 2012.
Various factors, including corporate governance, financial soundness, leadership, talent management and corporate social responsibility were taken into consideration for the rankings.
To compile the list, 15 industries were selected on the basis of size, contribution to gross domestic product, growth rate and national presence, among others.
Mr H. M. Nerurkar, Managing Director, Tata Steel, said the company's primary business purpose was to improve people's quality of life.
This was the standard that had guided Tata Steel in all its activities for over a hundred years, Mr Nerurkar said.
“We are consistent in our pursuit of improvements in key areas that impact our business — innovation, talent management and, most importantly, community development,” he said.
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel group of companiesis among the world's leading steel manufacturers, with an annual crude steel capacity of over 27 million tonnes a year.
It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.
The Tata Steel group of companies registered a turnover of $26.64 billion in FY2011.
It employs over 81,000 people across five continents.
The list of admired companies was prepared on the basis of a survey of 507 executives across 291 companies.
The survey was carried out between October 2011 and January 2012.
Various factors, including corporate governance, financial soundness, leadership, talent management and corporate social responsibility were taken into consideration for the rankings.
To compile the list, 15 industries were selected on the basis of size, contribution to gross domestic product, growth rate and national presence, among others.
Mr H. M. Nerurkar, Managing Director, Tata Steel, said the company's primary business purpose was to improve people's quality of life.
This was the standard that had guided Tata Steel in all its activities for over a hundred years, Mr Nerurkar said.
“We are consistent in our pursuit of improvements in key areas that impact our business — innovation, talent management and, most importantly, community development,” he said.
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel group of companiesis among the world's leading steel manufacturers, with an annual crude steel capacity of over 27 million tonnes a year.
It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.
The Tata Steel group of companies registered a turnover of $26.64 billion in FY2011.
It employs over 81,000 people across five continents.
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