“I don’t believe in taking the right decisions. I take decisions and then make them right.” – Ratan Tata.
Ratan Tata is a name that needs no introduction. Not only as a business tycoon but also as an amazing human being and humanitarian, the tata group scion has garnered respect. Ratan Tata success story is the most inspiring success story that motivates young minds daily.
He has always prioritised social and employee welfare over commercial gains, earning him the title of India’s best chairman. He is the chairman of one of India’s largest conglomerates, which includes approximately 100 companies with a combined sales of USD 67 billion.
In 1990, Ratan Tata was appointed chairman of Tata Sons. During his leadership, the Tata Group soared to new heights, with sales increasing by 40 times and profit increasing by 50 times. Let’s have a look at his life narrative and see if we can pick up a few chapters from his book.
Table of Contents
Born in Mumbai in 1937, Ratan Tata was an heir to one of India’s wealthiest industrialist families. His grandfather, Ratanji Tata, was the son of Jamsetji Tata, the founder of the Tata Group, which was instrumental in India’s post-independence industrialisation. Tata studied architecture and structural engineering at Cornell University in the United States and then went to Harvard University for a management program.
Later, becoming the Tata Group chairman, he began his career in the Tata Steel Division, where he worked alongside blue-collar workers. In 1971, Tata was named Director-in-Charge of the National Radio and Electronics Company Limited (NELCO), which was in desperate need of revitalisation, and he successfully turned it all around.
Ratan Tata completely took over the Tata Group in 1990 and put a series of reforms to modernise the group’s business procedures to compete successfully in the new era. He merged all Tata firms during his tenure, bought other companies, notably Tetley and Jaguar Land Rover, and floated Tata Motors on the New York Stock Exchange, bringing the company international recognition.
India received its first indigenously built automobile, the Indica, and its first tiny car, the Nano, during his leadership. Tata’s Nano, the world’s most cost-effective car, was conceived because the company became worried about nuclear families’ safety by using two-wheelers.
Achievements Of Ratan Tata
Ratan Naval Tata, who just celebrated his 84th birthday, served as Chairman of the Tata Group until his retirement in 2012, after which he served as interim chairman in 2017. The industrialist has received the Padma Bhushan and Padma Vibhushan, two of the Indian government’s highest honours.
Apart from Corus Group, one of Ratan Tata’s greatest achievements was to take the Tata brand global with acquisitions such as Tetley Tea, Daewoo Motors’ truck manufacturing subsidiary, and Jaguar Land Rover.
TCS is among the best consulting firms in India. It went public in 2004 under Ratan Tata’s leadership. Tata Motors, the automaker, was listed on the New York Stock Exchange under Ratan Tata’s reign. Tata’s contribution to India’s car sector is a feather in his crown, with the Group going on to create a true-blue Indian brand, the Indica, followed by the Nano, which was his own creation. The Tata Group’s revenues increased by more than 40 times, and earnings increased by more than 50 times during his tenure.
When Ratan Tata met with Ford executives to sell the Tata Group’s vehicle division, he faced a significant problem. Although the deal fell through, Tata continued to try to grow its auto business. When Ford was on the verge of bankruptcy nine years later, Tata was able to secure the company’s Jaguar Land Rover acquisition for almost $2 billion. During the 26/11 terror attacks, he spearheaded efforts to assist casualties outside the Taj hotel, demonstrating his ability to overcome obstacles.
Beacon Of Change
Tata has always been interested in new enterprises and prospective technology, according to the idea. He has invested in a number of start-ups and next-generation technologies, both small and large. He has also invested in the bitcoin startup Abra and American Express. In addition, Ratan Tata worked with a few Pune-based designers to develop clean drinking water for the rural poor. Swach is a sub-1000 water purifier for this campaign. Tata Motors has also completed the first batch of Tigor Electric Vehicles at its Sanand, Gujarat, production facility.
A true Leader
Tata is the epitome of leadership, as he has always prioritised a humanitarian face over commercial gain. He is involved in a variety of charity endeavours aimed at improving the quality of life and education in rural India.
During his lifetime, he has gotten a lot of acclaims. Padma Bhushan was bestowed upon him by the Indian government in 2000, and Padma Vibhushan was bestowed upon him in 2008. Aside from that, he has received honorary doctorates from Ohio State University, the University of Warwick, and the Asian Institute of Technology in Bangkok.
His fortune is estimated to be worth GBP 300 million. However, he owns less than 1% of Tata Groups, the world’s largest conglomerate. Several charitable trusts possess the majority of Tata Group shares, which are used to fund a variety of philanthropic operations.
Accolades and Honours
In the year 2000, Tata was awarded the Padma Bhushan, India’s third-highest civilian honour. He was awarded the ‘Medal of the Oriental Republic of Uruguay’ in 2004. Among the honorary accolades he has earned are the International Distinguished Achievement Award, Honorary Fellowship of the London School of Economics and Political Science, Padma Vibhushan, Grand Officer of the Italian Republic’s Order of Merit, etc.
“A person who is trying to copy others will be a successful person for a while, but he won’t be able to succeed further in life.” – Ratan Tata
Ratan Tata success story should serve as motivation and inspiration to all young people. Remember not to grow with the mindset that something is impossible to achieve. You will be the leaders of this country in the coming years, determining the country’s fate. Never lose sight of your values, and never doubt your own abilities.
Ratan Tata success story also teaches us that falling behind is a natural part of life; however, don’t allow your setbacks to define you. Always be open to criticism because there is always a positive way to come out of it. In the same way, get out of your comfort zone and be willing to take risks. Work hard and believe in yourself.