Live your Values
This story is narrated by present Chairman of Tata Group: Mr. N Chandrasekaran
KraussMaffei, the large German engineering conglomerate, shared with our executives this surprising story of what the Tata word meant, and the Tata brand stood for.
In 1946, soon after World War II, the KraussMaffei board met J.R.D. Tata (then Chairman of Tata group) on the platform of the bombed-out Munich station. India was under British rule, and German and Indian companies could not make any legal agreements among themselves.
The Germans requested Tatas to take their best technicians and their families to India, who were starving without work in Germany. They will teach you all they know; please take care of them, is all we can ask, they said. And thus, Tatas learned metal-working from the best of the best.
Many years later, they said, when India had gained independence from the British, a letter arrived at their headquarters from Tatas. Now that we can, how much shall we pay you for the technology you have provided us, it asked. That letter, they said, is a legend in our company of what trust means. You honor your debt, even when it is not legally binding, and even when it is not demanded of you.
With well over a century of experience under our belts, the Tata Group isn’t simply proud of this legacy—we are determined to carry it forward in the 21st century“
Learning from the story
1. Trust is not built through legal contracts between parties. It is built by practicing your values even in the toughest of the situations.
2. The business should be known for that ONE thing, just like how Tata’s are known for TRUST.
3. Business becomes truly sustainable when every stakeholder like management, employees, shareholders, vendors and society wins together.
Questions to ask ourselves
1. What do I and my brand stand for?
2. Are we congruent with what we stand for OR our values?
3. How do we create this congruency in our thoughts, words, deeds and actions as well as communicate this to all our stakeholders?
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