Mumbai The life and works of Ratan Tata reflect his leadership qualities and his social contributions, which are a source of inspiration for Indian industry and society. In 1962, Ratan Tata joined Tata Sons and worked on the floor. This experience provided him with important knowledge and understanding of the family business. In 1971, he was made Director-in-charge of NELCO (National Radio and Electronics Company Limited). Although the company was in financial trouble at that time, Ratan Tata worked hard to build a better consumer electronics division. But his plan could not succeed due to economic recession and union issues.
In 1977, he was transferred to Empress Mills, another struggling unit of the Tata Group. He made plans for the revival of the mill, but this effort was rejected by other officials and the mill closed. Subsequently, Ratan Tata was transferred to Tata Industries.
In 1991, JRD Tata appointed Ratan Tata as the Chairman of the Tata Group. There were some concerns and objections regarding his responsibilities for this position. But when he took over the leadership of the Tata Group, he improved the overall position of the organization, revised the division’s management and approach, and succeeded in increasing the dividend. During this time, he also served as a member of the Prime Minister’s Council and on RAND’s Advisory Board for Asia Pacific Policy.
He is an active member of India’s AIDS Initiative program and is also a member of the International Advisory Board of Mitsubishi Corporation, JPMorgan Chase, Booz Allen Hamilton and American International Group.
On his 75th birthday in December 2012, Ratan Tata resigned as Chairman of the Tata Group. Cyrus Mistry, managing director of Shapoorji Pallonji Group, succeeded him and served as interim chairman from October 2016 to February 2017. Even after retirement, Ratan Tata continues to actively invest in new business ventures and make significant contributions to philanthropic causes.
Birth, age, family and education Birth and family
Ratan Tata was born on 28 December 1937 in Bombay, British India (present-day Mumbai). He is the son of Naval Tata and Suni Commissariat. When Ratan Tata was only 10 years old, his parents divorced. Subsequently, he was adopted by his grandmother Nawazbai Tata through the Jeanne Petit Parsi Orphanage. Ratan Tata was brought up by his half-brother Noel Tata.
Education
He was educated at Campion School, Mumbai, Cathedral and John Connon School, Mumbai, Bishop Cotton School, Shimla and Riverdale Country School, New York City. Subsequently, he completed his higher education from Cornell University and Harvard Business School.
Chairman of Tata Sons
When JRD Tata resigned as chairman of Tata Sons in 1991, he named Ratan Tata as his successor. Ratan Tata faced many difficulties during his tenure, but he successfully navigated the decision-making process. Ratan Tata organized the overlapping companies of the Tata Group into a coordinated structure. Under his leadership, Tata Sons’ revenues increased 40 times and profits increased 50 times. He acquired Tata Tea from Tetley, Tata Motors from Jaguar Land Rover and Tata Steel from Corus, transforming the group into a global business.
charitable work
Ratan Tata is known for his philanthropic work in education, medicine and rural development. He supported the Faculty of Engineering of the University of New South Wales to provide better water. Tata Education and Development Trust has endowed the Tata Scholarship Fund of $28 million to Cornell University, which will provide financial assistance to Indian graduate students.
private life
Ratan Tata was not married. He said in 2011 that he came close to getting married four times, but backed out each time for some reason or the other.
famous quotes
Those words of Ratan Tata which will always be remembered
1. I don’t believe in taking right decisions. I make decisions and then make them right.
2. If you want to go fast, go alone. But if you want to walk away, walk together.
3. Take the stones that people throw at you and use them to build a monument.
Ratan Tata – Major Successes
As Chairman of the Tata Group, Ratan Tata made the company internationally renowned. Under his leadership, the Tata Group acquired companies like Corus, Jaguar Land Rover and Tetley and emerged as a global brand. Major automobiles like Tata Nano and Tata Indica were conceived and manufactured under his leadership. As a major philanthropist, Ratan Tata has invested more than 65 percent of his wealth in charitable trusts. One of their major goals is to improve the standard of living of Indians and ensure human development.
Ratan Tata received many awards
Padma Bhushan (2000)
Medal of the Oriental Republic of Uruguay (2004)
International Distinguished Achievement Award (2005)
Honorary Fellowship of the London School of Economics and Political Science (2007)Padma Vibhushan (2008)
Grand Officer Award of the Order of Merit of the Italian Republic (2009)
Honorary Knight Commander of the Order of the British Empire (2009)
Oslo Business for Peace Award (2010)
Honorary Knight Grand Cross of the Order of the British Empire (2014)