Ratan Tata is known as one of the best chairman in India. Let’s know a few facts about him and try to learn some success lessons from his journey.
He became the chairman of Tata Sons for the first time in 1990 and later in 2016 as interim chairman. But he stills continue to be the head of Tata’s charitable trusts.
He is known for business ethics and philanthropy activities. He has received many awards but the main 2 awards are of India which are the Padma Vibhushan (2008) and Padma Bhushan (2000). During his period of chairmanship, revenue grew up to 40 times and profit grew over 50 times.
It was Ratan Tata only who came up with the suggestion of bringing all the tata companies under one umbrella.
There is a story that Ratan Tata once said to a minister that “You could be shameless, I am not” because the minister was asking Ratan Tata to meet two industrialists from Pakistan after 26/11 attack for the tender of remodelling of Taj hotels. This shows that Ratan Tata is not only a man of vision but he is also patriotic towards his country.
Throughout his period he acquired many companies like Tata Tea to acquire Tetley, Tata Motors to acquire Jaguar Land Rover and Tata Steel to acquire Corus. He explained in an interview for the Harvard Business School’s Creating Emerging Markets project, the development of the Tata Nano was significant because it helped put cars at a price-point within reach of the average Indian consumer.
He has also made small and big investments in various startups and companies. It is also said that he acquired a stake in Chinese startup Xiaomi. He has also invested in bitcoin venture Abra by partnering with American Express.
Tata Motors recently rolled out the first batch of Tigor Electric Vehicles from its Sanand plant in Gujarat, regarding which Ratan Tata said, “Tigor indicates a willingness to fast-forward India’s electric dream. The government has set an ambitious target to have only electric cars by 2030.”
As it is said he is known as a leading philanthropist in India, is a supporter of better education, medicine and rural development. He has invested in so many businesses but you will never find him investing in a cigarette or alcohol business because it’s against his business principles. This helps us to understand that in business ethics and principles are as important as making a profit.