Approaches of Tata Steel to Managing Environmental Drivers in the Market
Tata Steel is the second biggest steel manufacturer in Europe and has its chief steelmaking plants in Holland and the UK. It supplies steel and associated services to main industries such as production, vehicle manufacturer, and packaging. The European operations are supplementary of Tata Steel Group, one of the world’s top ten steel manufacturers. The joint Group has approximately 80,000 employees. A dedication to environmentally-sound practices is an important part of many businesses’ promise to act responsibly. Social responsibility refers to the company’s responsibilities to take advantage of its long-term positive impacts and reduce its negative impacts on society.Tata Steel Europe Ltd is a multinational company making steel, which is headquartered in London, UK, and is a completely owned subsidiary of Tata Steel. It is the second biggest steel-maker in Europe. “Today, it is one of the largest steel producers in the world with over 80,000 employees across five continents” (The World of Steel n.d.: 11). The company functions two main integrated steel plants in the UK, at South Wales, Scunthorpe Port and Talbot, North Lincolnshire, and one in IJmuiden, the Netherlands. Started in 1907, and at present, the company is among the top ten global steel manufacturing companies with a crude steel capacity of over 28 million tonnes per annum. The company is also engaged in activities relating to discovering, prospecting, and mining iron ore, ferroalloys, coal, and other minerals. manufacturing and designing plants and equipment for oil, steel, and natural energy, gas and power, mining, ports, railways, aviation, and agricultural implements and space industries. “The manufacturing facilities at Tata Steel Europe comprise of manufacturing hubs” (The journey towards enduring sustainability 2013: 16). It is at the present, one of the world’s most geographically-diversified producers of steel, with operations in 26 nations and a commercial presence in over 50 nations. The Tata Steel Group Company, in FY 2012- 2013 with a turnover of US$ 24.82 billion, has over 81,000 workers across five continents and is a Fortune 500 business. “By carefully identifying and articulating the drivers of social performance and measuring and managing the broad effects of both good and bad performance on the corporation’s various stakeholders, managers can make a significant contribution both to their company and to society” (Epstein Roy 2001: 585). The vision of the Tata Steel is to be the world’s steel business benchmark through the excellence of its citizens, its modern approach and overall conduct. The visionof the Tata Steel is to be the world’s steel business benchmark through the excellence of its citizens, its modern approach and overall conduct. Supporting this vision is a performance culture dedicated to aspiration targets, protection and social responsibility, constant improvement, transparency, and openness. Tata Steel’s larger manufacture facilities comprise those in India, Singapore, the Netherlands, China, Thailand, the UK, and Australia.