Why I Love Facebook...an Example of How to Do Things Right....

As I continue to work away on on-going daily academic commitments, I ran across this courtesy of Fareed Zakaria about how doing the right thing should be just the way and nothing else:

Fareed speaks with Ratan Tata, who until recently ran the Tata Group – India’s largest conglomerate – about ethics in business.

Zakaria: Tata Sons, the holding company that governs the entire Tata group, is two-thirds owned by charitable trusts, is that right?

Tata: Yes.

Zakaria: Which means that two-thirds of the income that comes from this enormous industrial and services empire goes to charity.

Tata: Yes.

Zakaria: Has that changed the way in which, you know, does that change your perspective on how and why you’re running it?

Tata: Yes, it has. First of all, you know, it runs counter to the general perception that Tatas are a family company and that the proceeds of these industrial operations go to the Tata family. It does not. The family owns about two percent, collectively, of Tata Sons. And the 60s, 65 percent that goes to charity has always been seen as a noble usage of the wealth we have created from our companies, it goes back into education, medical, elevation of poverty or rural development. So, in a manner of speaking, it has always been our driving force that what we’re doing is really for plowing it back to the people of India.

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