New Delhi: The 31st JRD Tata Oration on Business Ethics was delivered by the Xavier School of Management XLRI on November 19, 2022 at the Tata Auditorium on the XLRI Jamshedpur Campus. This year's oration was given by Bhaskar Bhat, Chairman of Tata SIS Airlines and Director of Tata Sons Ltd.
The lamp was lit to officially begin the event by TV Narendran, Chairman of XLRI, Bhaskar Bhat, Chairman of Tata SIA Airlines and Director at Tata Sons Ltd., Fr. S George, SJ, Director of XLRI, Professor Sanjay Patro, Dean (Academics), XLRI, and Fr. Kuruvilla Pandikattu, SJ, Chairperson of JRD Tata Centre for Business Ethics.
"XLRI has always stressed adapting to ethics, students need to follow business ethics in organisations," the chairman of XLRI said in his presentation to students. Future company leaders are trained in a key business ethics course. Additionally, it's critical that pupils comprehend and embrace the idea of ethics. Welcome to the 30th JRD Tata Oration of Business Ethics, everyone.
JRD Tata was known for one message throughout his life: "Ask not just what is legal but go further and ask if it's the right thing to do," according to Fr. Kuruvilla Pandikattu, S J, Chairperson of the JRD Tata Centre for Business Ethics. JRD Tata Foundation was started in 1991 to show the company's dedication to upholding corporate ethics in India.
The only B-School in India with a centre specifically named after the businessman JRD Tata is XLRI.
He also discussed a couple of the JRD Tata Center for Business Ethics' recent initiatives. Every academic year, business ethics is taught to students. Regular ethics workshops are held in association with Tata Steel. We are holding competitions for essays, debates, and posters. Future business ethics studies are being conducted, as well as publications. The ICP and MDP programmes in the domain of ethics will soon begin. For the XLRI's upcoming academic year, an international ethics conclave is being planned, he said.
Delivering the speech on business ethics was Bhaskar Bhat. The topic was moved from ethics to integrity. Integrity and ethics, in his view, are one word, not two.
According to a study conducted by a Tata employee, the top most valuable Indian ethical brands in 2022 include Tata, Infosys, LIC, Reliance, Airtel, SBI, HDFC Bank, Wipro, Mahindra, and HCL. For the seventh year in a row, Tata Steel has been recognised as the world's most ethical firm, he said. "935,000 brilliant and motivated workers work for Tata Groups in more than 100 countries across six continents," he said.
He made the point that "you cannot separate individual ethics from business ethics" by using the example of Tata NYK Shipping, which halted three days of its commercial shipping time to save six seamen.
At all levels of leadership, "talking the talk and walking the walk both are crucial jobs. He used a case study from Tata Nano to illustrate how they reduced their earnings while still delivering products at the quoted price. A promise is a promise, as stated by Ratan Tata, and this is walking the walk. You can't just talk the talk and act on it, he said.
"True character is revealed by adversity. He gave the Tata Finance crisis as an illustration. Reimbursing each investor who funded Tata Finance is the goal. In this journey, mistakes like this happen, but what matters is how you act and how the company behaves. Because of how the group handled it, no one recalls it anymore.
He also discussed personal ethics. We often mistakenly believe that our personal, social, and professional lives are three independent spheres, but in reality, you cannot separate values, ethics, and integrity from one another. In real life, ethics and integrity "simply come together as a confluence," he remarked.
Integrity and ethics are strategic and intentional because they feed into the best advertisement in business, he said.
The occasion was completed with a vote of thanks proposed by Professor Sanjay Patro, Dean Academics, XLRI.
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