Ratan Tata, who served as the honorary chairman of Tata Sons, the holding company of the Tata Group, from 1991 until his retirement in 2012, died on October 9 in Mumbai. He was 86 years old.
Widely considered one of India’s most visionary business leaders, Ratan Tata He was celebrated not only for his business acumen but also for his generous philanthropy and humility. he was great BusinessmanBut an even greater human being, who earned him widespread respect and inspired a generation entrepreneurs,
His contribution to the nation was celebrated in 2000 with the Padma Bhushan, India’s third highest civilian award. Padma VibhushanIndia’s second highest civilian award in 2008.
Ratan Tata, who scaled great heights with the Tata Group and created a net worth of Rs 3,800 crore, has left behind a valuable legacy in the form of life lessons for budding entrepreneurs.
According to Ratan Tata, 5 rules every aspiring entrepreneur should follow for success
1. Start from scratch
After completing my studies in WeRatan Tata got an offer from IBM. However, he rejected it as he was determined to rise to the top by making a humble beginning. Eager to learn the ropes of business before taking on bigger roles in the company, Ratan Tata worked on the shop floor alongside blue-collar workers. He applied for a job in the Tata Group by sending his typewritten biodata to JRD Tata.
2. Be ethical
Ratan Tata was known for being a moralist Businessman Who always gave priority to doing the right thing. When he became chairman, he stood up to powerful leaders within the Tata group who abused their powers. They reportedly took the serious action of removing them from their positions, sending a clear message that the company will not seek personal gain but is a group that works for the benefit of the larger group and its values.
Throughout and after his leadership, tata group has maintained strong ethical values, the tradition of its founders including Jamsetji Tata. The company’s focus is not just on profits, but also on how it can make a positive impact on society. His generous life proved that authentic leadership lies in empowering deserving people.
3. Take risks
Since joining the business, Ratan Tata has stressed the need to grow the Tata Group globally. When he became chairman, the company was not performing well internationally, but he believed in the importance of growing across borders. Even though many people disagreed with his vision, he still took risks, which paid off handsomely. Under his leadership Tata acquired famous brands like Tetley, Taj Boston and Jaguar Land Rover.
Tata was not afraid to take bold steps. He once said, “I don’t believe in taking right decisions. I take decisions and make them right.,
They also launched popular cars like Tata Nano and Tata Indica. His strategic decisions, such as the acquisition of Tetley by Tata Tea and the acquisition of Corus by Tata Steel, helped company Grow globally. None of this could have been achieved without his bold decisions which he followed steadfastly.
4. Be polite and kind
Ratan Tata was not only a successful businessman but also a kind-hearted human being, which is a renowned quality of octogenarians.
