Learning from Ratan Tata: A Legacy of Innovation, Resilience, and Philanthropy
A pioneering industry leader, benevolent philanthropist, and compassionate human, Ratan Tata’s success story will inspire the generations to come. Ratan Tata was an Indian businessman and philanthropist who served as the former chairman of Tata Group and Tata Sons. Son of Naval Tata, Ratan Naval Tata graduated from Cornell University College of Architecture with a bachelor’s degree in architecture. In 1961, Ratan Tata joined the Tata Group and worked on the shop floor of Tata Steel. Later, he was appointed as the chairman of Tata Sons, serving from 1991-2012, after JRD Tata stepped down. Being branded as the wrong choice by the media, Ratan Tata proved everyone wrong with perseverance, dedication, and hard work, placing Tata Group alongside the leading global companies.
Apart from being a business titan, he was also a generous benefactor, involved in many charitable causes. Aiming to provide high-quality education to marginalised children, improve primary healthcare conditions, and transform rural India, Tata Group has collaborated with several NGOs and organisations. By establishing the Sir Dorabji Tata Trust, Ratan Tata donated approximately 65% of the profits to charitable purposes such as education, rural development, and healthcare. Recipient of Padma Bhushan, Padma Vibhushan, and several national and international honorary and awards, Ratan Tata is recognised for his contribution towards various sectors of society.
The Unbeatable Power of Hard Work and Preparation
Ratan Tata’s leadership at Tata group was testament of hard work and preparedness. He built his career from the ground up, moving from an apprentice position to the directorial role. During his 21-year tenure, Tata’s revenue increased more than 40 times and the profit more than 50 times. He helmed the Tata Group through several challenges, solidifying its global mark. Under his visionary leadership, the Tata Group made several acquisitions including the purchase of London-based tea brand, Tetley, South-Korean truck manufacturing unit Daewoo motors, the takeover of Corus Group, an Anglo-Dutch steel manufacturer, and the highly talked about purchase of elite British car brands Jaguar and Land Rover.
Staying Grounded: Ratan Tata’s Humble Approach
Source of inspiration for millions, Ratan Tata has taken his company and country forward. A true icon and legend, there is so much we can learn from the man of innovation, humility, and grace. One of the biggest thing Ratan Tata teaches us is humility. A virtue possessed by very few, Ratan Tata was always humble, staying true to his roots. Listening to everyone, respecting their opinions, and admiring their work, Ratan Tata believed that a true leader is always humble and empathetic. Despite being at the helm of one of the largest businesses in India and the world, he always maintained a down-to-earth demeanor, never flaunting his accomplishments.
The Role of Innovation and Resilience in Sustained Success
Tata Group grew manifold under Ratan Tata’s chairmanship, and it is impossible to believe that once he was branded as the wrong choice to lead the massive enterprise. When he was appointed as the Tata Group chairman, many people questioned JRD Tata’s decision. However, maintaining dignified silence and focusing on proving himself, he positioned Tata Group as a distinguished and influential conglomerate in the world. In the ever-evolving business world, where everything is dynamic, Ratan Tata embodied the importance of innovation and resilience. During his reign, Tata Group expanded into several industries such as hospitality, automotive, software, and telecommunication. During his tenure, Tata Group’s innovation and development plans reached groundbreaking heights, with Tigor EV, the first made-in-India EV, FerroHaat, a digital initiative to organise steel scrap sourcing, and Mia, India’s first 100% recycled gold brand, being some of the many remarkable feats. This reminds us that through innovation and resilience, personal growth and the success of any venture is possible.
Impacting the Lives of Millions Through Philanthropy
Apart from being a top-rank conglomerate, Ratan Tata was also recognised for his philanthropic endeavors. He established Tata Trusts, relentlessly working to improve the access of quality education, healthcare, and sustainable development for the underprivileged section of society. He invested his time in truly understanding the needs of society and actively contributing to its growth and betterment. In times of natural disasters, communal crisis and conflicts, Tata Group was at the forefront, providing aid and relief, reflecting his concern and care about people. Ratan Tata’s philanthropy, benevolence and kindness are a remarkable testament that success is more than making a name for yourself, it is about contributing positively towards the lives of those around us.
Incorporating Ratan Tata’s Vision: Building a Legacy
Ratan Tata’s personal and professional journey offers valuable lessons for us to bring positive impact in society through innovative and adaptable approaches. At FIIB, we recognise the legacy built by Ratan Tata and aim to champion his principle values- hard work, integrity, and innovation. As we try to uphold his legacy, we remain dedicated to fostering a holistic learning and entrepreneurial environment, instilling social responsibility, humility, and generosity in our students. As one of pioneering business institutes in India, our fundamental belief is to strike a balance between hands-on education and theoretical knowledge. By integrating technology, promoting interactive and peer learning, encouraging learning by doing, we aim to shape the future of the business world. Ratan Tata’s vision is not just an aspiration, it is a resolution to nurture the future generations of thought leaders, entrepreneurs, and businesspersons who will continue to drive the world toward progress and innovation.