Success Story of Ratan Tata – India’s Coolest Business Tycoon
Born on 28th December 1937, Ratan Naval Tata is an Indian philanthropist, industrialist and the former chairman of Tata Sons. From 1990 to 2012 he was the chairman of the Tata Group and continues to head its charitable trusts. He is famous to the whole world for being able to secure two of the highest civilian awards of India – Padma Bhushan (2000) and the Padma Vibhushan (2008).
He is the great-grandson of Jamshedji Tata, the founder of Tata Group. He is also an alumnus of the Cornell University College of Architecture. In 1961, he joined the company. After that, his grandfather retired in 1991 and during these 21 years after Ratan joined the company revenues exceeded 40 times and secured profit over 50 times.
Under his leadership the Tata Motors acquired Jaguar Land Rover, Tata tea acquired Tetley and Tata Steel acquired Corus, making the group from a small India-centric platform into a large global group of businesses.
Naval Tata is not an actual descendent of the Tata family but an adopted son from the J.N. Petit Parsi Orphanage by his grandmother. Ratan Tata went to the schools in Mumbai and Shimla namely Cathedral and John Connon School and Bishop Cotton School respectively. In 1955, he graduated from the Riverdale Country School and then secured a B.Arch. degree in architecture with structural engineering in 1962 from Cornell University. In 1975, Ratan Tata completed the Advanced Management Program from the Harvard Business School.
Turning down an occupation at IBM on JRD Tata’s recommendation, Ratan joined the Tata Group in 1962 and went to Jamshedpur to look out for his first shop at Tata Steel. He was selected as the Director of National Radio and Electronics in 1971. After joining the organization, he turned the company’s fortune from 2% to 25%.
After JRD Tata announced Ratan Tata as his successor in 1981, the following 10 years after his entrance into the company, Ratan was delegated as its chairman. Under his experience, the Tata Group experienced some diversified innovating endeavours. Tata became one of the most durable organizations by landing into the corporate world which diverted the company to a significant rise.
Ratan’s significant discharge have been Nano and Indica in India. Currently, the company’s 65% of profit share comes from abroad. Since 1991, the Tata Group under the hold of Ratan Tata has been climbing incredible heights. The Prime Minister’s Council on Trade and Industry includes Ratan Tata. He also happens to be on the board of Governors of the East-West Center – an advisory board of RAND’s Center for Asia Pacific Policy. Ratan Tata also serves on the program board of the Bill & Melinda Gates Foundations’ India AIDS initiative.
Both in public and private sectors in India Ratan Tata serves as an important board member in several leading organizations. He is also a member of the International Investment Council set up by the President of South Africa. He is credited for leading Tata’s successful bid for Corus which is an aluminium and steel Anglo-Dutch producer that has secured an estimated value of 6.7 billion by Tata Sons.
Ratan Tata retired from the Group on 28th December 2012 and is succeeded by Cyrus Mistry – the son of Pallonji Mistry and the MD of Shapoorji Pallonji Group. However, his experiences, leadership and formability made him a comeback in October 2016 after being decided by the selection committee of the Tata Group.
Ratan Tata is also known to the world for his impeccable energetic mind towards innovations in the automobile sector. Some of his vehicle’s innovations include Mercedes Benz S-Class, Maserati Quattroporte, Sebring, Ferrari California and Jaguar F-Type. He was also the primary Indian to fly F-16 Falcon in 2007. In 1999, the entire group of Ratan Tata went to Ford to sell their booming automobile business after assuming control over Ford’s expert vehicle brands like the Jaguar and the Land Rover. In 2009, the United Kingdom respected him with the most prestigious award of Honorary Knight Commander of the Order of the British Empire. It is estimated that his total worth would be now $72 billion.