“If you want to walk fast, walk alone. But if you want to walk far, walk together”
These are the words of Ratan Naval Tata, who has walked far and long in the business world, bringing revolutions since 1961 when he started his career on the shop floor of Tata Steel after rejecting a job at the very well-known IBM. While the average life of a business is less than 18 years, the Tata group will be completing 154 years of successful operations this year under the guidance of their true “Ratan”, Ratan Tata.
A well-known personality who needs no introduction. Being an inspiration, he has set an example for many entrepreneurs. Known for his ethics, he is a very down-to-earth person despite belonging to a wealthy family.
Start of Career
Only a dedicated and hardworking man like Ratan Tata could have taken care of the company, in 1991 when JRD Tata retired. As a successful Chairman, he accomplished some successful mergers of Land Rover Jaguar with Tata Motors, Tetley with Tata Tea, and Corus with Tata Steel. Not only did these mergers benefit the company, but they contributed to its humongous growth and as a result, the company’s revenue has grown more than 40 times and profits over 50 times.
Success is no fluke, it’s sheer hard work and dedication
Only a few people know that Ratan Tata works too hard. For instance, in 2007, Tata was to sign a deal worth 54,000 crores in England’s largest steel company, Corus. There were hundreds of representatives from both companies at the final meeting in London, where they worked on the Memorandum of Understanding. It was a whopping 18,000 pages which had to be signed by Ratan Tata. The meeting lasted 70 hours without a break. Ratan Tata was constantly in communication with the London team from his suite at the Taj hotel in Mumbai via video conferencing. Tata, who was 69 years old, worked nonstop and was awake for 70 hours straight. Throughout the meeting, he was the one pulling strings, the deal was finalized when he signed The MOU. He was under a lot of pressure as The loss of 54,000 crores would have occurred if the MOU had been manipulated in any way. In just two and a half days, he finished reading the 1800-page MOU and he read it not just once, but 12 times.
He has a level of commitment that rarely few individuals possess. even young people have difficulty sitting for long periods, but this man makes everyone feel old.
The dedication he shows daily, at such an age is just commendable.
Despite his dedication to the company, he still finds time for his passions. He is a passionate, trained pilot and owns a pilot’s license. He is often seen flying aircraft owned by the Tata Group, and he was also the first Indian to fly the F-16 Falcon in 2007.
Ratan Tata is a man of his words. His name is enough to bring immense investor confidence to a company. He delivers on his promises, he believed in Tata Nano in 2009 and delivered it as the cheapest car that made cars affordable to many households that had only dreamt of having a car.
The industrialist has endowed a scholarship fund of $28 million, for Indian undergraduate students studying abroad. Not only is he working towards making the world a better place for humans, but also, for the man’s furry friend, the dogs. The headquarters of Tata sons at Bombay House has recently been renovated and now has a kennel for stray dogs with not just a shelter, but toys, food, water, a play area, and everything a dog needs. Ratan Tata is truly a blessing for many people and even animals.
Ratan Tata is not found in the lists stating billionaires just because more than 65% of the company’s and the family’s fortune is dedicated towards charity. He is truly rich by heart and one of the greatest philanthropists. His contributions towards the healthcare and infrastructural development of India are valuable.
Ratan Tata has always considered his employees as his family. He believes in taking everyone together in progress. He has introduced various benefits for his employees like a modern pension system, maternity leaves, medical facilities, and much more. This not only delivers smiles on their faces but also instills in their loyalty towards the company. He ensures that he checks up on his employees, and he even visited an ailing former employee in Pune on January 4, 2021. He truly is a great leader.
India’s globalising economy’s ambitions, difficulties, and possibilities are inextricably linked to those of the Tata Group and its chairman, Ratan N. Tata. With revenues of US$ 17.8 billion (in the fiscal year ended 2005) with primary interests spanning from steel, automobiles, and telecommunications to software consultancy, hotels, and consumer products, the country’s second-largest conglomerate has come a long way since he stood down as chairman in 1991. That was also the year India began the economic reforms that would propel the country to become one of the world’s fastest-growing economies.
When Tata, 67, inherited his uncle J. R. D. Tata as chairman of the then-stodgy corporation, he set out to integrate, refocus, and modernize the huge conglomerate of almost 100 mainly autonomous enterprises. Aided by funds from its thriving software unit (Tata Consultancy Services) and the expansion of India’s economy, he rebuilt his company’s stake in its major companies (by revenue), including Tata Motors and Tata Steel, and more than doubled its revenue. In 1995, he entered the passenger automobile industry, which culminated in the debut of India’s first indigenously designed, developed, and manufactured car, the Indica, three years later. The gamble was successful.
Tata Group acquired Tetley Tea in the United Kingdom in 2000 and quickly followed with further large international acquisitions and investments. However, restructuring or divesting underperforming enterprises has proven to be more challenging.
Tata discussed the group’s international strategy in an interview with Ranjit Pandit, a director in McKinsey’s Mumbai office. He also discussed his plan to create a $2,200 “people’s car,” his vision of India as a global knowledge centre, and his commitment to the social responsibilities required of companies operating in developing markets.