Ratan Naval Tata – A Legendary Entrepreneur

Ratan Naval Tata is an Indian businessman, investor, philanthropist and chairman Emeritus of Tata Sons. From 1991–2012, he served as the chairman of Tata Group, a Mumbai-based conglomerate. On 28 December 2012, he stepped down from his respective post in the Tata Group but continues as the chairman of the Group’s charitable trusts.

More than 65% of his share is invested in charitable trusts. His aim has been to raise the quality of life for Indians along with Human Development.

Early life

Ratan Tata was born to Naval Tata and Sonoo Commissariat on 28 December 1937, Ratan’s father was adopted from the family of a distant relative by Navajbai Tata after the death of her husband, Sir Ratanji Tata. His parents Naval and Sonoo separated in the mid-1940s, when Ratan was ten and his younger brother, Jimmy, was seven years old. Both he and his brother were raised by their grandmother Navajbai Tata.His father remarried to Simone Tata and had a son from it, Noel Tata. He belongs to a prominent Parsi family. He has not faced any such financial issues since his family had been successful businessmen since the British rule in India.

Ratan N. Tata is a highly educated businessman. He holds a Bachelors degree in Architecture from the Cornell University, USA, and has pursued Advanced Management Program from the Harvard Business School, USA. It was in 1962 that he joined his family business; the Tata Group.

Now, he is 78 years old and unmarried.

Career

After completing his higher studies, he returned to India and turned down a job at IBM on JRD Tata’s advice. Then later, in 1962 he joined the Tata Group, for which he was sent to Jamshedpur to work on the shop floor at Tata Steel.

In 1971, he was appointed as the Director of National Radio and Electronics, which was in a bad state of 40% losses and only 2% of consumer market share. But as soon as Ratan N. Tata joined the company he gave it statistics an upward turn, he took the company from 2% of market share to 25%.

JRD Tata soon declared Ratan Tata his successor in 1981, but he had to face criticism since people believed that he’s not experienced enough to handle a business of the scale that of like the Tata Industries. After ten years of his entry into the Tata Industries, he was appointed the Chairman of the Tata Group. After Ratan’s appointment, The Tata Group reached absolute new heights which had never been experienced by this group earlier.

Under his stewardship, Tata Tea acquired Tetley, Tata Motors acquired Jaguar Land Rover and Tata Steel acquired Corus, which have turned Tata from a largely India-centric company into a global business, with 65% revenues coming from abroad. He was instrumental in the development of Tata Nano, largely dubbed as the world’s cheapest passenger car.

On his 75th birthday i.e. on 28 December 2012, Ratan Tata retired from all executive responsibility in the Tata group.

He might have retired, but he is still seen working.

Achievements

  1. Ratan Tata received the Padma Vibhushan in 2008 and the Padma Bhushan in 2000, the second and third highest civilian honors awarded by the Govt. Of India
  2. Ratan Tata serves the Indian organizations in senior capacities, for example, he is the member of the Prime Minister’s Council on Trade and Industry.
  3. Ratan N. Tata is also an active participant in the India’s AIDS initiative program.
  4. Ratan Tata has a long list of foreign affiliations as well, such as the membership of the International advisory board of the American International Group, JP Morgan Chase, etc.
  5. Legend in Leadership Award from the Yale.
  6. Honorary Citizenship of Singapore
  7. Carnegie Medal of Philanthropy, on behalf of the Tata Family.

 

 

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