Going Beyond Profit: A Case Study of the CSR Initiative of Titan, Tata Group

Abstract

The Tata Group and its precision engineering division, Titan, run on a foundation of values based on the spiritual principle of proactively giving back to society. In this paper, the authors study Titan, making reference to the strategy, business ventures and social responsibility that are ingrained in the company. The authors analyze the branding strategy, product categories and corporate social responsibility (CSR) initiatives of Tanishq, the jewelry division of Titan, through a focus on Mr Perfect and Karigar Park, two of Tanishq’s innovative CSR initiatives.

Tanishq seeks to support social welfare activities without exception as it strives to follow the Tata tradition of going beyond the financial bottom line. Company leaders appear to have realized that having a profitable company which is neither ethical nor sustainable is not supportable by society at large. ‘Exemplifiers’ and ‘self-promoters’ both want to be admired, but the former are more concerned with projecting integrity than projecting their success. Stakeholder commitment (i.e., ensuring the business is held in high esteem) and trust (i.e., expecting the organization to act with integrity) are typically considered to be two important components of corporate reputation. The authors conclude that Tanishq is a self-exemplifier, trusted for its commitment to stakeholders’ wellbeing and the common good.