Ethical behaviour is intrinsic to the way Tata Steel conducts business and it is part of the Group’s legacy from the Founder Jamsetji Tata, who believed that business must operate in a way that respects the rights of all its stakeholders and creates an overall benefit for society.
The Tata Steel Group has built an enviable corporate reputation founded on ethical and transparent principles. It believes in adopting the best practices in terms of corporate governance that have continued to evolve over the years. Integrity, transparency and accountability are integral to the way the Group conducts its business in every sphere. Tata Steel is proud of the longstanding respect it has earned as a fair and caring employer, and respects all human rights both within and outside the workplace.
What binds together every member of the global Tata Steel family is a shared corporate culture shaped by the value-based guiding principles that underpin every business decision. All employees of Tata Steel have a personal responsibility to help preserve the human rights of everyone at work and in the larger community. Besides a Corporate Ethics Department responsible for the Management of Business Ethics, the Company drives inclusive growth and its agenda of common good through social agencies.
The Tata ethos, Company vision and goals serve as guiding philosophies for Tata Steel Limited, with the Tata Code of Conduct acting as its ethical roadmap.
The Tata Code of Conduct
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. 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 business ethos of the Tata Code of Conduct is deployed through a specially formulated structure - the Management of Business Ethics (MBE) - which is based on four pillars:
LEADERSHIP - The Managing Director is also Tata Steel’s chief ethics officer. A designated Ethics Counsellor, supported by Departmental Ethics Coordinators, reports directly to the Managing Director and has access to the Board of Directors.
COMMUNICATION AND AWARENESS - Compliance to the Code is a condition of service for all employees and is also a pre-requisite for service for suppliers, contractors and vendors, who must agree to respect it. Employee seminars, compliance training and ethics awareness workshops are conducted at frequent intervals.
EVALUATION OF EFFECTIVENESS - The MBE Programme is evaluated and reviewed and new initiatives as required are introduced under the MBE Annual Business Plan.
COMPLIANCE STRUCTURE - A number of systems and processes based on zero tolerance have been put into place to ensure that governance standards are met. These include Gift Policy, Whistle Blower Policy,Vendors Whistle Blower Policy, Sexual Harassment Prevention and Redressal Guidelines.
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