Bus 3306 Business And Society
Written Assignment Unit 3: Business and Society
University of the People
BUS 3306 - Business and Society
Alquincy Emerson, Instructor
February 15, 2023 Introduction
TATA Group is a highly diversified multinational corporation based in Mumbai, India. With over 100 operating companies in several industries, such as automotive, steel, information technology, hospitality, and telecommunications, TATA is known for its long-standing commitment to sustainability, corporate social responsibility, employee welfare, and good governance (TATA Group, 2022). This paper explores how TATA embeds long-term wealth creation in its business practices and success.
Nature of TATA's Business
TATA Group is a family-owned conglomerate founded by Jamsetji
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The company offers a range of employee benefits, including healthcare, life insurance, and retirement benefits. (Tata. People-first-labour-welfare, n.d.). TATA also has a solid commitment to diversity and inclusion, to have at least 50% of its workforce comprising women by 2025 (Tata. People-first-labour-welfare, n.d.).
The success of TATA's Business Model
TATA's business model, which embeds long-term wealth creation in its practices, has been successful. The company has weathered economic and social changes and has continued to grow and innovate. For example, TATA Motors launched the Nano, the world's cheapest car, in 2009. While the Nano did not sell as well as expected, TATA's innovation and ability to disrupt the automobile industry were widely recognised. TATA Consultancy Services has also been recognised for its digital transformation and innovation in the information technology industry.
Conclusion
In conclusion, TATA's success in embedding long-term wealth creation in its business practices is reflected in its commitment to sustainability, corporate social responsibility, employee welfare, and good governance. TATA's highly diversified portfolio of operating companies and its global presence have given it a unique perspective on the challenges facing businesses today. TATA's focus on long-term wealth creation has enabled the company to continue to grow, innovate, and be a leader in several
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