On the CoverTata Steel: A Benchmark in Corporate Citizenship
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Part of the 150-year-old Tata Group, Tata Steel has brought to reality the vision of its founder, Jamsetji Nusserwanji Tata—providing positive value to society while exceeding the expectations of stakeholders. At Tata Steel, ‘responsible capitalism’ is not just straightforward philanthropy stemming from business success; it is the manner in which the Company applies the tenets of social responsibility in conducting its business, balancing social commitment with business expertise, and developing a cogent philosophy in which the company’s long-term success is reviewed through the dual lens of sustainability and financial benchmarks. Tata Steel makes efforts to identify options to create a larger societal value while trying to tread lightly on the planet —it focuses on total value. CSR at Tata Steel has moved from a philanthropy mode to one where a joint effort by the corporate, the state and the community facilitates deeper-rooted socio-economic development. The key takeaway from Tata Steel’s sustainability strategy is that corporate citizenship efforts should always align with company goals while delivering value to both society and the company.