With money and reputation standing as priorities for most businesses, it is definitely hard for companies to place ethics first. Business, however, is not always about making profit necessarily. Edward Freeman emphasized on how business is about working together—among consumers, stockholders, and managers.

A solid and balanced business is when people develop ideas, theories, and beliefs that combine business and ethical elements to give back to the community through various means of service. Tata, the conglomerate we talked about in Class 2, is a unique company that was founded to not only make a bunch of money, but also to help the community by sharing the wealth. Jamsetji Tata, the founder of the Tata Group, believed that “the mission of the righteous person is not merely to live a good life, but to make life better for others” (Casey). What sets apart Tata from other companies is that Tata Group follows ethical foundations set since the start of the company, in 1868. While hundreds of companies are struggling due to CEOs being forced out of their jobs because of their unethical actions, the Tata Group continues to stand with success with Jamsetji Tata’s legacy to impact and influence people’s lives. As the ethical culture becomes increasingly prioritized in businesses, on the long run, ethical companies stand as the most profitable.

“In a free enterprise, the community is not just another stakeholder in business but is in fact the very purpose of its existence.”
Jamsetji Tata

References
Casey, Peter. “Tata Success Story Is Based on Humanity, Philanthropy and Ethics.” The Economic Times. 5 Sept. 2014. Web. 11 Sept. 2014. <http://articles.economictimes.indiatimes.com/2014-09-05/news/53602009_1_tata-consultancy-services-tata-sons-tata-group>.

Lala, R.M. “The Hindu : Opinion / News Analysis : The Business Ethics of J.R.D. Tata.” The Hindu : Opinion / News Analysis : The Business Ethics of J.R.D. Tata. Web. 11 Sept. 2014. <http://www.thehindu.com/2005/07/29/stories/2005072905991100.htm>.

“The Tata Group: Integrating Social Responsibility with Corporate Strategy.” ICMR. Web. 10 Sept. 2014. <http://www.icmrindia.org/casestudies/catalogue/Business%20Ethics/The%20Tata%20Group%20-%20Social%20Responsibility%20-%20Corporate%20Strategy.htm>.

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