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NATURE AND SIGNIFICANCE OF MANAGEMENT 1 CHAPTER Management at Tata Steel Founded in 1868, by Jamsetji Nusserwanji ,Tata the Tata Group L E A R N I N G is a global business conglomerate operating in over 100 countriesO B J E C T I V E S across 5 continents. His strong sense of values and spirit of innovation and entrepreneurship are a legacy that continues to After studying this guide Tata companies till date. He had four goals in life: settinghapter, you should up an iron and steel company, a world-class learning institution,be able to: unique hotel and a hydro-electric plant. Only the hotel became a reality during his lifetime, with the inauguration of the Taj MahalDescribe the Hotel at Colaba waterfront in Mumbai on 3 December 1903 at characteristics of the cost of 11 million (worth 11 billion in 2015 prices). At that management and timHe believed that satisfied workers create satisfied workers and its importance in in lieu to this principle he paid all his workers gratuity, providean organisation; fund well before it was made mandatory. His management skills were clearly evident when minute details were chalked in n Explain the nature planning and building the entire city of Jamshedpur. The values of management and principles that have governed the business for a century are enshrined in the Tata Code of Conduct (TCOC). as an art, science From an early foray into steel and automobiles, to staying and profession; abreast of the latest technologies, the Tata Group today has n Explain the 29 publicly-listed Tata enterprises, which include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata functions of Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata management; and Communications and Indian Hotels. The group has a combined n Appreciate market capitalisation of around $103.51bn (2016-17). Tata has a strong sense of social responsibility. They balance the nature and economic prosperity, environmental responsibility and social importance of with Odisha, and believe in taking its stakeholders forward inogrescoordination. its journey of growth. Tata Steel Thailand is one of the first 30 companies that joined UNICEF in Child Friendly Business in “The Children Sustainability Forum” to make a commitment in protecting children’s rights. Tata Steel Europe’s Community Partnership Programme- ‘Future Generations’, with sub-themes of education, environment, health and Well-being works across Reprint 2026-27