“If you do what you’ve always done, you’ll get what you’ve always had. Think differently”
Same can be said about the success of the greatest Indian businessman, Ratan Naval Tata.
Ratan Tata transformed the fate of Tata Group from being a conventional corporate house to a global conglomerate, worth $100 million with high-profile acquisitions abroad. He stepped down as the Chairman of the Tata Group on December 28, 2012, ending the long 50 year run of one of India’s oldest business empires.
A sincere dedication to an exceptional leader, below are 8 interesting facts about Ratan Navel Tata.
Ratan Naval Tata was born on 28 December, 1937, into a wealthy and famous family of Mumbai. Born to Naval Hormusji Tata and Soonoo, he is the great grandson of founder of the Tata Group, Jamsetji Tata.
The opposite of what one wouldexpect, Ratan Tata went through a troubled childhood. His parents separated during mid-1940s, when he was just 7 years old. Thereafter, he was brought up and raised by his grandmother.
Ratan Tata went to Campion School, Bombay, followed by Bishop Cotton School, Shimla. He later came back and went to Cathedral and John Connon School, Mumbai to complete his schooling. Ratan completed his B.S. in Architecture in 1962 from Cornell University, New York and got an Advanced Management Program degree from Harvard Business School, US in 1975.
As advised by J.R.D Tata, Ratan turned down the job offer from IBM to join the family business.
In December 1962, Ratan joined the Tata Group. He joined at Jamshedpur to work at the Tata Steel. He worked as a blue-collar employee till 1971 and was promoted as the Director-In-Charge at the National Radio & Electronics Company Limited. The company was going through a rough financial phase at that time. Ratan suggested Nelco should invest in developing high technology products other than consumer electronics. J.R.D was initially reluctant to do so, due to the financial performance of Nelco, but he still followed Ratan’s suggestions and the company eventually recovered all its damages.
Ratan Tata took over as Chairman of Tata Industries in 1981. Here, he was responsible for promoting new ventures in high-technology businesses. Later in 1991, he took over as the group Chairman from J.R.D Tata. It was then that he pushed out the old guard and ushered in young managers. Ever since then, Ratan has been instrumental in reshaping the fortune of the Tata Group.
It is only because of his vision and sincere effort that today Tata Group holds the largest market capitalization than any other business house in the Indian Stock Market.
Under the leadership of Ratan Tata, the Tata Group successfully acquired Jaguar, Corus, Land Rover and Tetly. His guidance and unmatched leadership changed the company status from being a local company to an international business name.
Tata motor’s then came up with the brain child of Tata Motors and named it ‘Tata Indica’. However, Ratan Tata gained wide popularity in 1998, when he first introduced the world’s cheapest car– “Tata Nano”. Also known as the “People’s Car”, Tata Nano could be bought for 1 lakh rupees.
The foreign affiliations of Ratan Tata include membership of the international advisory boards of the Mitsubishi Corporation,Booz Allen Hamilton, the American International Group and JP Morgan Chase. He is also the member of the board of trustees of RAND Corporation, University of Southern California and Cornell University.
In addition, Ratan Tata is also serving as the board member of Republic of South Africa’s International Investment Council and Asia-Pacific advisory committee member for the New York Stock Exchange.
The legendry business magnate, Ratan Navel Tata, has bagged countless awards during his entrepreneurial journey. Amongst the most important national awards he won were ‘Padma Bhushan’ in 2000 and ‘Padma Vibhushan’ in 2008.
Ratan Tata was also honored in Economic Education as the 26th Robert S. Hatfield Fellow. This is the most prestigious and highest award given by Cornell University. Even London School of Economics awarded him with an honorary doctorate.