Ratan Tata

Ratan Naval Tata (born 28 December 1937) is an Indian industrialist, philanthropist, and former chairman of Tata Sons. He was also chairman of Tata Group, from 1990 to 2012, and again, as interim chairman, from October 2016 through February 2017, and continues to head its charitable trusts. He is the recipient of two of the highest civilian awards of India, the Padma Vibhushan (2008) and Padma Bhushan (2000).

  Ratan Naval Tata

CHILDHOOD

MR. TATA came into the world on December 28, 1937, in the city of Surat, India. Ratan Tata’s father was MR. Naval Tata and mother was Mrs Sonoo Tata. He has a younger brother named Jimmy and a stepbrother as well named Noel Tata One may think that the early days in the life of MR Tata were amazing and luxurious since he was born in a very rich family. But the reality is pretty different, as when he reached the age of 10, his parents got separated. Being divorced especially in India, is viewed from a negative perspective and social status in society is reduced as well. His younger brother was just seven years old at that time. Even after his parents being separated, both his father and mother made time to meet their children Ratan Tata and Jimmy, but never came together again, as a family. This had a deeply negative impact on both the children. However, Ratan Tata was being looked after by his grandmother, Lady Navajbai Tata in Mumbai. Mr Tata has also mentioned in his various interviews, that his grandmother had a great influence on his life because she taught him how to live a disciplined life, as she was a very strict lady herself. And most of the leadership skills which he has today, are present in him due to his upbringing.

Education

The starting of his School days began at Campion School and eventually, he ended up finishing his school education at Cathedral and John Connon School which are situated in Mumbai. Later he got his B.S. degree in architecture in structural engineering in the year 1962, from the renowned Cornell University in New York. Afterwards he got himself enrolled into a program called Advanced Management Program in 1975 from the Prestigious Harvard Business School.

10 Success lessons from Ratan Tata for entrepreneurs.  

1. Be a visionary

When Ratan Tata joined the group, it was barely doing any business outside India. Even though many opposed him, he maintained that the company had to go global. Today half of Tata’s revenues come from overseas. Under his leadership, Tata acquired brands like Tetley, Jaguar Land Rover, and Taj Boston.

2. Be humble

He is known for his humility, and there are countless examples. He started out working as a blue-collar employee for Tata Steel. He personally visited the families of the 80 employees who were affected because of the 26/11 attacks. He remembers almost everyone by their first names and is not dismissive.

3. Never give up on values

Values are something that defines a company, both to its employees and its customers. Public Safety and welfare has always been one of the main core values of Tata. The Tata Group has always been known for upholding these values and when Ratan Tata took the reigns, he too reinstated these values into the company culture. As a result, Tata has become one of the most trusted brands the world over.

4. Take Risks

Taking risks is the cardinal rule of business. As a leader, one needs to have the foresight and the capability to take risks that can take the company to new heights. Coming from business family, Ratan Tata was no stranger to taking risks and once also said, “I don’t believe in making right decisions. I take decisions and then make them right.” From acquiring the Jaguar and Land Rover businesses from Ford to taking over Corus, the second-largest steelmaker in Europe, Ratan Tata made significantly big moves and has managed to make things work in his favour.

5. Motivate others

Ratan Tata had the ability to inspire and motivate others which is very important for a leader. Being a great leader isn’t about checking all the right boxes but is about making sure you inspire, drive and spark your drive in others, so that they along with you, can bring about change, social innovation and progress.

6. Have faith In yourself

When you are dealing with life’s hodgepodge, every minute you take a decision. Some decisions are right while some decisions may cause situations to take an unpredicted turn. At such junctures, before people lose faith in your decision-making skills, you must have a staunch belief in yourself and must confidently come forward to make the situation in your favour.

7. Be open to criticism

As per a famous quote by Ratan Tata, ‘Take the stones people to throw at you and use them to build a monument.’ Whenever you endeavour to do something you like, you won’t always receive appreciation. There will be people who will try to pull you down and criticize to shatter your spirit. All you need to do is just ignore all the criticisms and focus on your work.

8. Use creative tendencies

Be creative rather than being reactive. Being proactive and solving problems even before they come is one of the most important qualities of an entrepreneur. A person should not have a tendency to react only when the situation demands but the person should be able to anticipate what will happen in future and be able to adjust himself to what is present. An entrepreneur who exercises such quality is always successful.

9. Get out of the safe mode

To be successful in business you need to take the risk. No risk no gain. Mr Ratan Tata always believed in taking risks and the result is clear that the risk paid off. To be successful you need to take a risk working in safe mode might make you feel comfortable but you will never be able to get the best out of the system. He once said “I don’t believe in making the right decisions. I take decisions and then make them right,”

10. Don’t put all your eggs in one basket

Mr Ratan Tata believed in investing in different companies so that his investment is always safe. He acquired a stake in the growing Chinese giant Xiaomi and leading e-commerce site snapdeal. Investing in different companies ensures that your investment is safe and grows no what the situation of a particular industry is. 

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