Known as progressive and forward thinking in its Corporate Social Responsibility (CSR) initiatives for over 140 years, the Tata Group’s past CSR initiatives have fallen under four pillars: 1) Philanthropy, 2) Emergency Response, 3) Specific Community Initiatives, and 4) Quality Management Practices. Supporting these pillars are a variety of programs that have organically developed over the years to create an internal structure for executing the organization’s sustainability efforts. This situation occasionally creates challenges in measuring effectiveness and economic benefits of CSR, which obscures the return on investment (ROI) and could diminish future funding. The ten year sustainability strategy is designed to complement the business growth of the organization. This global growth will focus on the following industries: hotels, automobile, steel, software consulting, energy, chemicals, tea, engineering, and communications. It will target the following markets: Brazil, Canada, China, Gulf Cooperation Council (United Arab Emirates, Saudi Arabia, Oman, Bahrain, Kuwait, and Qatar), Germany, the Netherlands, South Africa, Sri Lanka, Thailand, the United Kingdom, United States, and Vietnam. To continue its global growth while maintaining its practiced sustainability, Tata needs to address creating and capturing value, while addressing uncertainty in its global sustainability strategy. Defining Sustainability for Tata’s Future
In order for the ten year strategy to be developed, the definition of sustainability itself needs to be refinement. Tata’s current definition of sustainability was developed as part of a series of group-wide meetings. Although Tata has had a great deal of success in preserving a culture of sustainability, the rapid global expansion of the company threatened to dilute the power of this working definition. Our team proposes a refined definition of sustainability: “Corporate Sustainability is a local, national, and...
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