Report on the Case Study Tata Steel’s Ehtics Essay

Executive SummaryThe gender balance company was given a vitrine study into Tatas contribution to honest business uses and sustainability to canvass into. The ten (10) member group shared the enquiry hesitations amongst themselves for effectual and expeditious exercise. The group researched into the general view of estimable business entrusts as behavioural moralistic values and principles that determine our conducts in the business world. It went deeper to expanciate that, this hefty motive is apply in confused aspect of the business life. These include employment operation, employees, customers, shareholders, the government and business competitors. The enforcement of this institutionalise goes beyond the provision of code of corporeal morals.Considering both the public and business perspective of sustainability which goes beyond corporate business to the environmental impact of a business operations, breeding Cycle judgement (LCA) provides an accurate applia nce for analyses than carbon footprint of the user phase. This actually takes the line up environmental impact of the product from the cradle to the grave into consideration. Though this process may be quiet cumbersome, both the business and the environment do it a huge deal of benefits. Tata contribution towards estimable and sustainable practices is pellucid in all its activities. It has been able use LCA to produce soft metals for the proceeds of cars thereby reducing the amount of CO2 emission. accessionSteel is a product that is widely used in al close every ambit of our modern life. It plays a key role in the worlds infrastructure. Tata Steel first established in India is the second largest steel manufacturing manufacture in the Europe. Its steel products are widely used in the gimmick industry, aerospace, rail, packaging etc. Tata Steels faux pas study into its ethical and sustainability practice was to be addressed by our group GROUP 27. The group began a series of meetings immediately after its formation. In other to look efficient and timely exercise, different businesss were assign to members and the group leader was unanimously nominated. The questions confused were segmented and given to privately member to research on. entropy was then collated from different sources and sent the central pull for the preparation of slides and for subsequent presentation on the stipulated date. This report seeks to establish the sources of information for Tatas ethical and sustainability practices. Key theoretical issues concerning ethical and how a business could use sustainability practice to compete was also given attention to. Since the research was conducted by a group, individuals contribution was assessed towards the works completion. Further, my personal observation in relation to the appellative and the acquaintance summationed were brought to bear. Conclusion from the study was then drawn to evaluate the succeeder or otherwise of t he whole exercise.Sources of InformationThe information gathered was from 2 main sources books and the internet. Much information was gathered from Tatas website which gave me much incursion into the research. This actually provided me with Tatas history, competitors, huge Corporate Social Responsibilities, business ethics and core values among others. Other websites gave me the information about a holistic view of business ethics and Life Cycle Assessment as well. In addition a couple of reading materials including books and journals augmented to the dusky friendship of the general view of ethical behavior and sustainability.Individual officeThe research questions ware sub- divided into smaller fragments and each member was assigned a question to research on. Personally I contributed to answering the question of ethical business practices. George Chryssides and John Kaler gave their view as to why businesses should get hold of ethical business practices. Materials obtained f rom the internet suggested that business ethics is applied in all areas of the business including payoff processes, human resource, shareholders, the community, the government and customers alike.I went encourage to elaborate on some unethical business practices and what organisations can to do for its enforcement. This gave us much insight to ethical business practices. The outcome was cordially received by members and they profoundly understood the concept and how it was even relate to Tata Steel. I was nominated to lead the presentation and the design of the sequence of actions that was to be followed during the presentation was part of my indebtedness. On my part, I was to explain what business ethics was, what unethical business practice was and how it could be enforced in an organisation. hypothetic IssuesThe main clinical of the research was to understand business ethical practices, how sustainability could garter a business to compete and how Tata Steel had contribut ed towards such acts. While the objective of any business is to make profits, it should contribute towards the inte nap of the society by ensuring fair practices. This in effect improve cooperate brotherly responsibility, annex consumer confidence and protect brand values in other to gain competitive advantage. Theoretically, issues concerning ethical business practice and sustainability with particular attention to LCA were of great concern to the research. honorable business practices are standard behavior of moral values and principles that determine business conduct in the business world. good practice takes care of the investor. It is to ensure that the dividends payable to the investor is in safe transfer and in good time. Production methods should be environmentally sustainable and everybody involved either directly or indirectly is unduly harmed. Also, it takes into account the wellness and safety as well as the value of the human capital. Sustainability practice of an or ganization focuses on the balance between the maximizing shareholders value, honouring the environmental and social responsibilities.For Tata Steel, its sustainability naturally follows its core value of ethics. In all this areas of the challenge, the environmental responsibility happens to be of great concern due to its relationship with the Carbon Footprint. except, ruleings revealed that LCA provides a more powerful tool to tackling CO2 emission including all phases from production to disposal of material. Even though a holistic LCA is data intensive and time consuming procedure, it enormous benefit ranges from a safer environmental impact, the fiscal benefit through the knowledge of the resale value at each demonstrate of products life and helps business to gain completive advantage.Research ConclusionFrom Tatas case study it was agreed that whereas some businesses do not take ethical issues seriously, Tata steel could be one of the best companies who efficiently and effecti vely practice business ethics and sustainability. A critical evaluation revealed that the companys ethical business practice and sustainability is far big thing to compile home about. This can be seen in the companys integrity, rationality of its stakeholders, excellence in business operations, force of unity among employees and corporate responsibility delivered to the society.Personal ObservationAfter researching into the ethical business practices and sustainability using the case study of Tata Steel, some observations were make in relation to the group assignment. Ethical business practices and sustainability has a wider view than I anticipated and has rather capacious importance to the business and the society at large. Considering ethical business practices, it was notice that the business has a rather big responsibility to all its stakeholders. It was stupefying to notice that this responsibility is discharged to all those who are directly or indirectly affected by the b usiness. It is somewhat a herculean task for businesses to take care of all its stake holders while maximising shareholders value.However the business enjoys enormous benefits in return of their good deeds. In the light of sustainability, the broader spectrum of LCA was noticed. Though LCA suffers some amount of criticism, a greater number of businesses find it very useful for itself and the environment as well. From Tatas case study, it became obvious that much importance is attached to the whole life cycle than conscionable carbon footprint On a whole, ethical behavior and sustainability in Business operations promote trust and confidence to the consumers and the society in which it operates. These go to promote a good business environment for proceeds and development opportunities for the company.Knowledge GainedThe assignments brought a number of issues to my knowledge. These came from practical activities we undertook and the academic research we embarked on. Practically the effectiveness of division of labour was the first practical knowledge I uncounted. When members were assigned specific task for the presentation, it was surprising to notice that each and every one did what is expected of them making it easier for our preparation. As a group leader, I realised it was always helpful to be a good listener to acknowledge the views of others before making necessary suggestions.This was very life-or-death since the group encompasses members from different nationals and cultural backgrounds. In the academic wise, the research make me realise that ethical business practice and sustainability go a pertinacious way to benefit all the stakeholders involved. In most businesses, the sustainability practice naturally follows its ethical practices. My attention has totally shifted from carbon footprint to the direction of Life Cycle Assessment due to its immense benefits. This powerful tool (where a products environmental impact is assessed considering all th e stages of a products life from cradle- to- grave) when implemented by all businesses could contribute immensely to win the war against the climatic change. wallop of Individual ContributionEvery member contributed positively to the success of the work. As a group leader, I managed to successfully chair all meetings and made sure specific tasks were timely met. I was to address the issue of ethical business practices. Since I played the leading role in the presentation, the groups expectation for a good start was met and that encourage the rest of the presentation team to follow suite. The data collection manager successfully gathered all data for the slide preparation.During the presentation, the following action points emanated from my individual contribution1. Definition of ethical business practices2. Areas of ethical business practices3. Examples of unethical business practices4. Enforcement of ethical practicesRemarksThough the exercise could not be verbalise to enjoy 100% success, one cannot say that it was a failure. The exercise was a bit challenging to the group. Deciding on the times and venue for the various meetings for instance was not easy to be agreed upon. For most instances meetings were held 45mins posterior than the agreed time. This however did not demoralised us from pursuing our tendency and we were able to complete the task on time.The effectiveness of our communication tool kept us on our toes and data collection gateway was a good thing to wright home about. Text messages, emails and phone calls were put to effective use. Furthermore, every member of the group had an in-depth knowledge of ethical practice and sustainability from the various discussions held. We have learnt how to work together as a team and most importantly how to tolerate others. I personally have profound knowledge of Tata Steel Groups, ethical practices, sustainability and its cooperate social responsibilities.ReferencesChryssides, G.D and Kaler, J.H, Introduc tion to Business Ethics, Chapman and Hall, London, 1993. Fisher C., Lovel A. (2009). Business Ethics and Values. 3rd ed. England. Pearson Education Limited. 9-17, 338-359 Shaw W.H. pluck V. (2010). Moral Issues in Business11th ed. USA. Wadsworth, Cengage Learning. 370-380 http//www.stonecourses.net/environment/benelca.htmlhttp//tatasteelindia.com/corporate/ethics/business-ethics.asphttp//www.tata.com/article.aspx?artid=XL+n3uN42cQ=.