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Be Profitable Example Tata Group

Businesses must be financially stable to fulfill their legal, ethical, and philanthropic responsibilities, with profitability being essential. They are required to comply with laws and regulations, act ethically by practicing fairness, and contribute to community welfare through philanthropy. Examples include Tata Group for employee welfare, Reliance Industries for legal compliance, Infosys for ethical practices, and Azim Premji of Wipro for philanthropy.

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Nandini Nutts
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5 views2 pages

Be Profitable Example Tata Group

Businesses must be financially stable to fulfill their legal, ethical, and philanthropic responsibilities, with profitability being essential. They are required to comply with laws and regulations, act ethically by practicing fairness, and contribute to community welfare through philanthropy. Examples include Tata Group for employee welfare, Reliance Industries for legal compliance, Infosys for ethical practices, and Azim Premji of Wipro for philanthropy.

Uploaded by

Nandini Nutts
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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 To carry on with ac ons while encountering other obliga ons - legal, ethical, and

philanthropic – a company must be financially stable. BE PROFITABLE

 EXAMPLE - The Tata Group, one of the largest employers in India, is known for its
commitment to employee welfare and community development.

 Legal Responsibili es:

 Businesses are expected to comply with the laws and regula ons of the countries
they operate in. This is the second level of the pyramid. Business should abide by
the laws and regulatory norms to avoid any legal complica ons in work.

 A business is responsible for obeying all na onal and interna onal rules, laws and
regula ons for their industry.

 Businesses not encountering the minimal legal prerequisites will confront pricey
legal ac ons and a tarnished reputa on. OBEY THE LAW

 EXAMPLE - Reliance Industries Limited, one of the largest private sector


companies in India, is known for its strict adherence to laws and regula ons

 Ethical Responsibili es:

 These are responsibili es that the community expects from businesses over and
above legal requirements. This includes business prac ces that are fair, just, and
right. This represents the responsibility of business to be morally right and prac se
fair business.

 A business is responsible for being just, moral and fair. It must avoid causing harm.

 Since law might straggled technology and can reflect a leading class instead of the
public good, encountering ethical obliga on in business is crucial. DO WHAT'S
RIGHT.

 EXAMPLE - Infosys, a global leader in consul ng, technology, and outsourcing, is


known for its commitment to transparency and ethical business prac ces.

 Philanthropic Responsibili es:


 These are responsibili es that contribute to the community and improve the
quality of life. This is the topmost level of the pyramid and goes beyond what is
expected ethically. This represents the ul mate objec ve of business to work for
welfare of society.

 A business is responsible for giving back to society and improving the quality of
life in the community.

 Philanthropy in business embraces ac vi es that are voluntary (a community's


beliefs of what's needed), to boost a company's brand image. BE A GOOD
CORPORATE CITIZEN

 EXAMPLE - Azim Premji: The founder-chairman of IT major Wipro Ltd, Azim


Premji, has emerged as the most generous Indian with dona ons worth Rs 22
crore a day or Rs 7,904 crore a year. He has commi ed 67% of economic interest
in Wipro towards philanthropic ac vi es.

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