"I don't believe in taking the right decisions, I take decisions and then make them right". One of the Ratan Tata's inspiring words which made me dream beyond shadows. I feel fortunate that I discovered him in the early stage of my life and now I am using his teachings to mold my future the way I want.
Top 5 reason why Ratan Tata is the business idol of the Young Generation
Career – Starting small and steady
Even though Ratan Tata was born in a very posh family of India he never took money and power for granted. He graduated from Riverdale Country from New York Ratan Tata began his career in the Tata Group, working on the shop floor of Tata Steel, shoveling limestone, and handling the blast furnace. After working for almost 10 years he was appointed as the Director-in-Charge of the National Radio & Electronics Company Limited (NELCO) in order to help its struggling finances. He worked towards building a better consumer electronics division but the economic recession and union strikes prevented him from achieving success and this success helped Tata to be appointed as the Chairman of the Tata Group of Companies. He started with a very basic job in his father's company and today he owns a billion-dollar company.
As the Chairman of Tata Group, he was able to achieve international recognition and prestige for his company. The astounding financial success of the company brought the Tata Group to the New York Stock Exchange and under his supervision, the corporation became a global brand by acquiring many companies including Tetley, Jaguar Land Rover, and Corus.
The energy and time that is needed to grow a company on an international level could be perfectly explained by Ratan Tata. His ideas for the company has not always been turned out as a successful venture. The recent such failure has been Nano Cars. In the years the Tata Motors was not doing good in terms of business as well as innovation. So Ratan Tata came up with an idea of rewarding and started an annual contest in the Tata Group that will reward the best-failed idea in the company. Rewarding failure and building a culture of try-frugally-and-fail-fast was the motto behind this contest. He wanted his employees to move out of the AC rooms and come closer to the reality of the different sections of society for innovation.
The Jaguar Story
The tag of greatness does not come without making any sacrifices and this tag on Ratan Tata suits to it's best.
Tata group launched its passenger car Tata Indica in the year 1998 but Tata Indica was a failure in its first year and the experiment seemed to be failing. Many people started advising Ratan Tata that he should sell the passenger car business. Ratan Tata also agreed to this and a proposal was given to Ford, they showed interest too. The three-hour meeting at Ford headquarters in Detroit, chairman of Ford (Bill Ford) said to Ratan Tata, “why did you enter in the passenger car business when you were not knowing of it. It will be a favor if we buy this business from you”.
Ratan Tata decided to move back home. While traveling, he was very tense as the feeling of being insulted was on his mind. After earlier failures, Tata Motors did well with its business of passenger cars but in the same period, Ford did very bad. In 2008, when Ford was on its way of bankruptcy, Tata Group offered Ford to buy its luxury car brand, Jaguar-Land Rover. Ford arrived in Mumbai for the meeting. In the meeting, Bill Ford said to Ratan Tata, ” You are doing a big favor for us by buying Jaguar- Land Rover”. Jaguar- Land Rover is now owned by Tata Group and is currently making profits.
Patriotic by Heart
The most horrific incident which happened in the 21st century was the 26/11 Mumbai terrorist attack. I was 9 years old and all I can remember now was dead and scattered bodies and clothes, sounds of gunshots and jitters all over in Mumbai. Even now sometime it haunts me whenever I hear on news about terrorist attacks happen anywhere in the world.
Long story short, a few months after a terrorist attack at Taj Hotel owned by Tata Group they launched their biggest tender ever for remodeling all their Hotels in India and abroad. Some of the Pakistani companies also applied for that tender. The two biggest industrialists of Pakistan went to Mumbai to meet Tata without an appointment. After waiting a few hours, a message was conveyed to them that Ratan Tata is busy and can not meet anyone without a prior appointment. Those industrialists went to Delhi and asked one of the Congress Minister to fix the appointment to which Ratan Tata said to this minister "You could be shameless, I am not” & hunged up the phone".
A few months later when the Pakistani government placed an order of TataSumos to be imported into Pakistan, Ratan Tata refused to ship a single vehicle to that country. This is his respect and love for his motherland. He placed the nation above money & business. This is the prime reason why I admire Ratan Tata more than any other businessman.
Ratan Tata is not only a renowned businessman but he is also a philanthropist. More than 65% of his share is invested in charitable trusts. One of the primary goals of his life has been to raise the quality of life of Indians along with human development.
In one of the events addressing the young entrepreneurs, Tata said that it does not matter what one does until it’s what they believe is right for them and advised that it did not matter how other people quantify the situation one is in. There are a plethora of ideas out in the world but only a few have the courage to go ahead and execute it. One should aim to deliver more than what is expected of him. It stands out to be a great practice to get noticed for the difference one is making, he added.
It is my dream that I could meet my business idol once in my life and trust me that day would be the best day of my life.