PANCHAKSHARI’S PROFESSIONAL ACADEMY PVT LTD

Ratan Tata: The Hero with Ethics

Mr. Ratan Tata has created a path for all the entrepreneurs and he has proved that for earning the amount you don’t need to compromise with ethics and value. No wonder, the TATA group is known for its Ethics equally as for its business. Lets see the story of this Noble businessman today.

Mr. Ratan Tata
Born / 28 December 1937(age77) Surat,India
Residence / Colaba,Mumbai[1]
Nationality / Indian
Almamater / Cornell UniversityHarvard Business School
Occupation / Chairman emeritus,Tata SonsChairman, Tata Trusts
Relatives / Tata family
Awards / Padma Vibhushan(2008)
Padma Bhushan(2000)
HonFREng[2](1937)
  • What is the introduction of Mr. Ratan Tata in short?

Ratan Naval Tata(born 28 December 1937) is an Indian businessman and chairman Emeritus ofTata Sons. He was the chairman ofTata Group, a Mumbai-based conglomerate from 1991–2012. He stepped down as the chairman ofTata Group, (their office is in Fort) on 28 December 2012 but continues as the chairman of the Group's charitable trusts.

  • How was his early life?

Ratan Tata is the son ofNaval Tata, who had been adopted from the family of a distant relative by Navajbai Tata after the death of her husband,Ratanji Tata. Ratan Tata's 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.Ratan also has a step brotherNoel Tatafrom Naval Tata's second marriage toSimone Tata.

Ratan began his schooling in Mumbai at theCampion Schooland finished his secondary education at theCathedral and John Connon School.He completed his B.S. in architecture withstructural engineeringfromCornell Universityin 1962, and the Advanced Management Program fromHarvard Business Schoolin 1975.Tata is a member of theAlpha Sigma Phifraternity.

  • How did Mr. Ratan Tata developed his career?

Tata began his career in the Tata group in 1961. He initially started on the shop floor ofTata Steel, shovelling limestone and handling the blast furnace.In 1991,J. R. D. Tatastepped down as Chairman of Tata Sons, naming Ratan as his successor.

Under his stewardship, Tata Tea acquiredTetley, Tata Motors acquiredJaguar Land Roverand Tata Steel acquiredCorus, 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 ofTata Nano, largely dubbed as the world's cheapest passenger car.

Ratan Tata retired from all executive responsibility in the Tata group on 28 December 2012 which is also his 75th birthday and he was succeeded byCyrus Mistry, the 44-year-old son ofPallonji Mistryand managing director of Shapoorji Pallonji Group.

Ratan Tata has retired but he is still seen working. Recently, he invested his personal savings in Snapdeal- one of India's leading e-commerce website. Another company that caught his interest is BlueStone. Mr Tata is working closely with Jaguar Land Rover and some of the new models launched by the British marquee have several inputs from Mr Tata.

  • What is the current status of Mr. Ratan Tata?

He is currently the chairman Emeritus ofTata Sons. He continues to serve as the chairman of the main two Tata trustsSir Dorabji Tata TrustandSir Ratan Tata Trustand their allied Trusts, which together hold 66% of shares in the group holding companyTata Sons.

Ratan Tata has served in various capacities in organisations in India and abroad. He is a member of the Prime Minister's Council on Trade and Industry and the National Manufacturing Competitiveness Council. He is on the jury panel ofPritzker Architecture Prize– considered to be one of the world's premier architecture prizes.

Ratan Tata is a director on the boards ofAlcoa Inc.,Mondelez Internationaland Board of Governors of theEast-West Center. He is also a member of the Board of Trustees ofUniversity of Southern California, Harvard Business School Board of Dean's Advisors,X PrizeandCornell University.

Ratan Tata is also a member of the Harvard Business School India Advisory Board (IAB) since 2006, and previously a member of the Harvard Business School Asia-Pacific Advisory Board (APAB) 2001-2006.

  • Which qualities if Mr. Ratan Tata I wish to adapt in me?
  • It is in deed a tall order for any one who wants to step intoRatan Tata's shoes. It should be a very daunting and well as interesting task to find the right man. India's industrial pride, even after a century, remains the Tata Industries.
  • The company that had only hospitality, steel and engineering in its business and manufacturing is now into some 100 businesses. All through the years of trials and ribulations, the one aspect of business practice that embodies the Tatas is their sticking to their straightforwardness. Unethical practices are unknown to them.
The Continuing Legacy
  • That is how it had been in Jamshedji Tata's pioneering times and that is how it is now in Ratan Tata's time. He is such a gentleman that not a small item of doubt about his integrity or personal conduct has even remotely been mentioned in the magazines or anywhere.
A Manager who was a Worker as well
  • It says something forRatan Tata's resilience that he had to put up with growing without his mother's love and guidance early in his life, his mother having moved out after her divorce from his father. He was brought up by his grand mother.
    He was such conscientious manager of business that he believed in living and working among the workers. He worked in the Tata steel in blast furnaces. He did not think twice about shovelling limestone.
Deft Handling
  • In 1977, entrusted with the management of Empress Mills, he managed to turn oaround the company from making loss to paying dividends. In 1991, he became the chairman of tata group chairman and brought about changes that resulted in the group being abel to garner the largest market capitqalization on the stock exchange.
Onwards Towards Even Bigger Things
  • Bigger things were on the anvil for Tata sons. The Corus group, the Anglo-Dutch steel company was acquired by Tata sons in 2007. Tata sons became the fifth largest steel company in the world with this acquisition. The software company, Tata consultancy Services and Tata Motors were listed in the New York Stock Exchange. The Ford motor company owned jaguar and land rover were bought by Tata Motors which was initially resisted by the shareholders of Ford who cited the image of the Tatas as a middle class company, whatever that means.
Nano is Actually Mega
  • Perhaps more than anything else in recent times, the manufacture of Nano car costing only 100,000 rupees endeared the Tata company to the common man. Mindful of the lower strateaof society not being able to own a car of its own and travel in comfort, Ratan Tata came up with the idea and had implemented the scheme amidst controversies and opposition from many quarters.
    A successor for Ratan Tata? Who knows where he is!
  • Which awards has been given to Mr. Ratan Tata in respect to his contribution?

Ratan Tata received thePadma Vibhushanin 2008 andPadma Bhushanin 2000, the second and third highest civilian honours awarded by theGovernment of India.

The other notable awards are:

Year / Name / Awarding organisation
2014 / Honorary Doctor of Laws / York University, Canada
2014 / Honorary Knight Grand Cross of The Order of the British Empire / United Kingdom
2014 / Sayaji Ratna Award / Baroda Management Association
2014 / Honorary Doctor of Business / Singapore Management University
2013 / Honorary Doctorate / University of Amsterdam
2013 / Honorary Doctor of Business Practice / Carnegie Mellon University
2013 / Ernst and Young Entreprenuer of the Year – Lifetime Achievement / Ernst & Young
2013 / Foreign Associate / National Academy of Engineering
2012 / Doctor of Businesshonoris causa / University of New South Wales
2012 / Honorary Fellow[23] / The Royal Academy of Engineering[24]
2010 / Business Leader of the Year / The Asian Awards.
2010 / Honorary Doctor of Laws / Pepperdine University
2010 / Legend in Leadership Award / Yale University.
2010 / Oslo Business for Peace award / Business for Peace Foundation
2010 / Hadrian Award / World Monuments Fund
2010 / Honorary Doctor of Law / University of Cambridge
2009 / Award of 'Grand Officer' of the Order of Merit of the Italian Republic / Government of Italy
2009 / Life Time Contribution Award in Engineering for 2008 / Indian National Academy of Engineering
2009 / Honorary Knight Commander of the Order of the British Empire / United Kingdom
2008 / Inspired Leadership Award / The Performance Theatre
2008 / Honorary Fellowship / The Institution of Engineering and Technology
2008 / Honorary Citizen Award / Government of Singapore
2008 / Honorary Doctor of Science / Indian Institute of Technology Kharagpur.
2008 / Honorary Doctor of Science / Indian Institute of Technology Bombay.
2008 / Honorary Doctor of Law / University of Cambridge.
2008 / Inspired Leadership Award / Inspired leadership award
2007 / Carnegie Medal of Philanthropy / Carnegie Endowment for International Peace.
2007 / Honorary Fellowship / The London School of Economics and Political Science
2006 / Responsible Capitalism Award / FIRST
2006 / Honorary Doctor of Science / Indian Institute of Technology Madras
2005 / Honorary Doctor of Science / University of Warwick.
2005 / International Distinguished Achievement Award / B'nai B'rith International
2004 / Honorary Doctor of Technology / Asian Institute of Technology.
2004 / Medal of the Oriental Republic of Uruguay / Government of Uruguay
2001 / Honorary Doctor of Business Administration / Ohio State University

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