Indian Industrialist Ratan Tata was born on 28 December 1937 in Mumbai. He has been a chairman of Tata Sons. From 1990 to 2012, he was the chairman of the Tata Group. He continues to head charitable trusts. He has received two civilian awards of India: Padma Vibhushan in 2008 and Padma Bhushan in 2000.
Ratan Tata studied at Cornell University College of Agriculture. He is also an alumnus of the Harvard Business School Where he completed the Advanced Management Program in 1975. JRD Tata stepped down as chairman of Tata Sons in 1991 and named Ratan Tata as his Successor. Ratan Tata in his role given priority to innovation and infuse younger talent in the organization and given key responsibilities to them.
During the 21 years Ratan Tata led at the Tata Group, revenues grew more than 40 times, and profit more than 50 times. He turned Tata from an India-centrist Group to a Global Business Group with more than 65% revenues from sales and operations in 100 plus countries. He conceptualized the Tata Nano car so that car can become within the reach of the average Indian person. Upon turning 75, Ratan Tata resigned his executive powers in 1992. Cyrus Mistry was appointed as his successor. Later in October 2016, Mistry was removed & Ratan Tata was made an interim chairman from October 2016 to February 2017. The selection committee was formed to choose a suitable successor. The selection committee chose Natarajan Chandrasekaran.
Ratan Tata is a supporter of medicine, education, and rural development. He is a leading philanthropist in India. He has served in different capacities in organizations in India as well as abroad. He is also a member of the Prime Minister’s ‘Council on Trade and Industry’ and the ‘National Manufacturing Competitiveness Council.
Ratan Tata in 2011 revealed that he was four times almost close to getting married and every time he backed off in fear or due to one reason or the other. Recently he expressed that he was in love with one girl when he was working in Los Angeles. When he wanted to come to India to meet his ill family member, the parents of the girl didn’t allow her to go with him because of the Indo-China war that was going on during that time in 1962. Ratan Tata chose to stand by his commitment and remained unmarried.
Lesson from the Entrepreneur Ratan Tata’s Life: The best way to keep one’s spirit high is by educating oneself from the life experiences of others, and from their zeal to fight through all odds to accomplish success in life. This can be an inspiration to many.
Ratan Tata is one such inspiring person who has been a role model for people. Being part of the solutions is the best way to be a successful entrepreneur.
- Having Trust in oneself Ratan Tata always says that he takes decisions and makes them right. Trust/Faith is the substance through which one can imagine the invisible and attains the intangible. With trust/faith one can move mountains. One needs to believe in success in order to achieve it.
- Being Broad-Minded Ratan Tata many times advises that if one wants to walk far then one should walk together. Being flexible in one’s thoughts and actions is very important to cross challenges in life. One should realize that success is a journey and not a cakewalk.
- Being Humble Ratan Tata is popularly known for his Humility. In the 1960s, he started working as a blue-collar employee for Tata Steel. He remembers people by their first names.
- Not making any room for Regrets We should fight to the best of our ability when we have a chance.
- Being Open to Criticism Let critiques remain critiques and we should just trust ourselves.
- Living by Values Tata believes in Living by values and leaving a legacy of standing for the right things.
- Being Problem Solver Ratan Tata believes that challenges should be seen as opportunities to be a problem solver.
