Profit with a purpose
The objective of business must be to maximise value for society, says Ratan Tata
Highlights
- The objective of business must be to maximise value for society by inspiring and empowering people, says Ratan Tata, Chairman, Tata Trusts, India
As one of the world’s most respected and successful business leaders, who has always lived by integrity and compassion. What would your message be for Asia’s next generation of entrepreneurs?
The purpose of business is to help societies prosper where the weakest is equipped and empowered to realize his or her potential. To that end, the key pillars of business should be innovation; ethics and compassion. Asia’s next generation of entrepreneurs must strive to make this a better world than previous generations left it. Hence issues like climate change; poverty alleviation and health for all must be the cornerstones of everything they do. The credo must be profit with a purpose.
The ABLF Awards is an excellent initiative to celebrate Asian achievements on a global scale.
The UAE, the home of the ABLF, the leadership platform that recognised your achievements in 2011, is one of the world’s most giving nations. What was your personal motivation in pursuing philanthropy as a career mandate?
I believe we are all given the privilege to serve. To serve our shareholders; our communities; our country and the world at large. To that end, those who are in positions to help and enable must do this not because it is fashionable but because it is right. Ultimately the world must be built on empathy and action and not greed.
You are working towards the transformation of the Tata trusts. Why is this important for the future of India in the fields of technology, automation, healthcare and nutrition?
We at the House of Tata, for over 125 years now, have always believed that the national well-being is critical to national progress. Where every citizen must be guaranteed the basic elements of life: to this end, we at Tata Trusts are committed to doing our bit to make our country more technology proficient so that we become world-beaters; look at healthcare more critically so that people are not deprived of a full and healthy life and where every citizen of our country is guaranteed basic nutrition. This is our strategy to make the little contribution we make.
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