AWARDS AND RECOGNITIONS
Tata Steel India awarded the Deming Application Prize 2008 for excellence in Total Quality Management. It is the first integrated steel company in the world, outside Japan to get this award. World Steel Dynamics has ranked Tata Steel as the world's best steel maker (for two consecutive years) in its annual listing in February 2006. Tata Steel has been conferred the Prime Minister of India's Trophy for the Best Integrated Steel Plant five times. It has been awarded Asia's Most Admired Knowledge Enterprise award five times in 2003, 2004, 2006, 2007 and 2008. Conferred the prestigious Global Business Coalition Award for Business Excellence in the Community in recognition of its pioneering work in the field of HIV/ AIDS awareness. Tata Steel works has been conferred the prestigious social accountability (SA) 8000 certification by social. Accountability international (SAI), USA. It is the first steel company in the world to receive this certificate. Corporate Sustainability Report of Tata Steel hailed by United Nation's Environment Programme (UNEP) and Standard and poor as strongest, submitted by any corporate house from emerging economies. Best governed company Award 2006 for setting high standards in governance practices.
VISION AND VALUES
Our vision is to be the global steel industry benchmark for value creation and corporate citizenship.
Our Values The Tata Group has always been driven by five core values:
Integrity. We must conduct our business fairly, with honesty and transparency. Everything we do must stand the test of public scrutiny.
Understanding. We must be caring, show respect, compassion and humanity for our colleagues and customers around the world, and always work for the benefit of the communities we serve.
Excellence. We must constantly strive to achieve the highest possible standards in our day-to-day work and in the quality of the goods and services we provide.
Unity. We must work cohesively with our colleagues across the group and with our customers and partners around the world, building strong relationships based on tolerance, understanding and mutual cooperation.
Responsibility. We must be responsible and responsive to the countries, communities and environments in which we work, always ensuring that what comes from the people goes back to the people many times over.
Goals We will achieve our vision through: Our conduct, by fostering teamwork, nurturing talent, enhancing leadership capability and working together with pace, pride and passion. Our offer, by developing leading-edge solutions in technology, processes and products. Our people, by becoming the supplier of choice, delivering premium products and services, and creating value in close partnership with our customers.
Our innovation, by providing a safe and healthy workplace, respecting the environment, caring for our communities and demonstrating high ethical standards. Founding Principles Since its formation by Jamsetji Tata in 1868, the Tata Group has consistently been run according to the principle that the wealth it creates should be returned to society. Jamsetji Tata believed that the health and welfare of the employees are the sure foundation of our prosperity. The Groups stated aim is to improve the quality of life of the communities we serve. This is demonstrated constantly by its businesses through their contributions to the communities of which they are part now in over 80 countries around the world. Two thirds of the equity of Tata Groups holding company, Tata Sons, is held by philanthropic trusts. Over the decades, these trusts have benefited a vast range of medical, academic, social and cultural projects and institutions. Tata Steel was one of the main foundations on which this pioneering industrial group has continued to grow around the world. The Tata Steel Group is proud of its performance culture. We are committed to the pursuit of challenging targets, and to safety, environmental protection, continuous improvement, openness and social responsibility in every aspect of our business around the world. We have set ourselves four key corporate goals to achieve by 2012:
Value creation: Deliver a 30% return on invested capital (ROIC) Safety: Achieve an industry leadership position by driving down our lost time injury frequency rate (LTIF) to a maximum of 0.4 incidents per million hours worked
Environment: Reduce carbon dioxide (CO2) emissions to less than 1.9 tonnes per tonne of crude steel (t/tls)1
People: Rank as an employer of choice in the top quartile across all industries.