Here, we know about the success story of Ratan Tata (Great Indian Entrepreneur). Ratan Tata was born on 28 December 1937 in Bombay (Mumbai). He was born in a Parsi family. His father’s name was Naval Tata and his mother’s name was Sonu Tata.
Ups and downs in life are very important to keep us going because a straight line even an E.C.G means we are not alive – Quote by Ratan Tata
Ratan Tata Net Worth
Before we start the success story of Ratan Tata. Many of you want to know Net Worth of Ratan Tata. Let know Ratan Tata net worth the former chairman of Tata Groups including other Tata companies like TCS (Tata Consulting Service) Ratan Tata has a net worth of approximately $1 billion. Tata group is working in many other countries of the world with amazing market share.
Childhood of Ratan Tata
Let start with Childhood of Ratan Tata. When he was at the age of 10, his parents got separated because of a poor relationship, and after this he brought up by his grandmother, Navajbai Tata.
Ratan Tata started his school from Cathedral and john Kenan school. And after that he studied from Visab Cotton School Shimla. In 1948 Ratan Tata lived with his grandmother due to his parents divorced. So this was about the Childhood of Ratan Tata.
Jamshedji Tata was the founder of the Tata groups of the companies and at that time there is no period of industrialization, so the business started by the Jamshedji Tata is like a family business.
Ratan Tata told in one of his interviews that he got this business skills from JRD Tata who was the chairman of Tata groups at 1938 and cousin brother of Jamshedji Tata because Ratan Tata is too closed with JRD Tata and Ratan Tata always follows the vision and legacies of JRD Tata. The Business skill which he got from the JRD Tata plays an important role in the success story of Ratan Tata.
JRD Tata was the visionary of the Tata groups and sons because at that time only JRD Tata thinks about Industrialization in India and knows how to develop the Industrial area of our country.
Ratan Tata also got an offer from the IBM computer company which was one of the largest companies of hardware and computer at that time and he works only 15 days for IBM companies.
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Ratan Tata Career
Here the success story of Ratan Tata begins.Let know Ratan Tata career history. At the starting of his carrier he always got the responsibility of that company which is already suffered from the loss at that time. So the starting days of his carrier were very difficult for him.
For his architecture studies Ratan Tata goes to America at the Cornell University of America. He was worked part-time in a hotel and other fields. And in 1959 he gets his Architecture degree. And in 1961 Ratan Tata started working in his own Tata group of steel. And in 1971 he started in a radio company which was NELCO this company was suffering from too much loss at that time. But later NELCO became the turing point in the success story of Ratan Tata.
Appointed as a director of NELCO
And then he appointed as the Director-in-charge of the NELCO which was the National Radio & electronic company limited which was the struggling finances company at 1971 he always know the upcoming period is the period of the Electronic devices
And after that, he thinks about the changing period of that time he knows the period of 1970s is changing period for transistors but the NELCO always follows the old strategies and NELCO was unable to adopt this new changing period and after that Tata think about to change the strategies of this company & this period is the turning period for the TCS.
After 2 years Ratan Tata built this company NELCO and make this company share from 2% to 20%. But due to some government policies this company was closed. This was the first failure in Tata’s life. And after that Ratan Tata got his management degree from Harvard University.
In 1977 Ratan Tata got the responsibility of Tata Express Mill which was in a huge loss at that time. He requests to invest 50 lakhs rupees on that company to run the management but the investors reject this offer. And after some time, this company was also closed and this was the second failure if his life.
And then he starts the collaboration with the world’s most top entrepreneurs like Bill Gates and rises the computer sector and engineering sector of India.
And after that he succeeded in improving the financial success of industries and expand or boost up the growth of the organization under his leadership. And he also changes the management and vision of the division, and managed to bring in significantly larger dividends and rise up the revenue of Tata groups and that why he is known as the great Indian entrepreneur.
Chairman of TATA groups
In 1981 Ratan Tata got the position of HOD in Tata Industries. And in 1991 he became the Chairman of Tata groups. After that Tata group continuously growing up.
He develops some code of conduct for every employee and every employee should follow this code of conduct.
They made five principals for every employee which are – Integrity, responsibility, understanding, equality and unity. But some of the top-level management is opposed to these principals but he makes the changes from the basics for Tata groups.
Current Chairman of Tata Groups
Many of you want to know who is the current chairman of Tata Groups. Natarajan Chandrasekaran was current chairman of Tata Groups. Mr. Chandrasekaran is 53-year-old as the best-known face of Tata Groups & Sons. He joined Tata Groups three decades ago and now he is the chief executive of Tata Consultancy Services (TCS) which is one of the best IT service providers.
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Meeting between Ratan Tata and Will ford
The first car launched by Tata groups in India was Tata Indica on 30 December 1998, this was the dream project of Ratan Tata but this car does not perform well in the market as per Tata groups expectation. And after Tata motors go in heavy loss. After this huge loss, some investors suggest Ratan Tata sell the company to another car manufacturing company. And after that Ratan Tata goes to make a deal with Will Ford the owner of Ford company.
This meeting was not going well for Ratan Tata because of Will Ford’s rude behavior and during the meeting Will Ford says to Ratan Tata If you do not know about car manufacturing why you invest this huge amount in this business. He says we are doing a favor to you by purchasing this company. And this was the turning point for the Tata Groups.
And after sometime Ratan Tata invests his all amount of money in this car manufacturing company and launched a new model of Indica which was Indica V2 in a market and which was a successful car proved in a market.
And at the same time, Ford company was suffering from the huge loss due to his Jaguar and Land Rover cars and after that Ratan Tata offer Will Ford to buy these cars and Will ford accept this offer by Ratan Tata and purchase these two cars from Will Ford for 2.3 Billion and Will Ford again said his thought that you are doing a favor on us by purchasing these two cars.
In 1998: The Tata Indica, the conglomerate’s first passenger car, was launched this year. This car went on to become the No. 1 brand in its segment within two years.
In 2002 Tata groups also purchase Tetley company and nowadays this was the topmost company that made Teabags. And in 2004 Tata Groups buys Daewoo commercial vehicles. And after that in 2007 Tata Groups purchase Corus Groups which was a steel company.
In 2003: Tata consultancy services (TCS) became the first Indian software company to cross 1 billion dollars in revenue. The company went public a year later and this was a great achievement for this Great Indian entrepreneur.
Why Tata Nano Failed ?
Many of you heard about the Tata Nano car the best affordable car for middle-class people but few of you know about Why Tata Nano failed? So lets know. This great Indian entrepreneur always thinks for the common man or middle-class peoples and that’s why he launched Tata nano car at an affordable price for middle-class peoples.
In 2008 Ratan Tata launched an affordable car for middle-class people which was Tata Nano the price of Nano is only 1 lakh rupees. At first this car covers a huge share in a market and later on this car was flopped because of his cheap image. Only because this car was cheap in price Tata Nano failed in a market. And this failure of Tata Nano Car in a market was a crucial period in the success story of Ratan Tata.
Ratan Tata was respected by Padma Bhushan award in 2000 and by Padma Vibhushan in 2008.
This great Indian entrepreneur also started the Tata Trust to do the social service by his profit and donate most of his company profit for social service.
TCS (Tata consulting services)
Tata Consulting Service (TCS) company of the Tata Groups and sons was the IT company which contribute 53% of the GDP to the country and that was the reason why the Ratan Tata is known as the great Indian entrepreneur.
Also Read : Tata Consulting Service (TCS) VS Infosys
And on 28th December 2012, Ratan Tata left the Tata group and nowadays Tata has more than 100 companies that were in more than 150 countries. Ratan Tata was a books and animals lover person. And Tata Groups donate his 66% of profit to country people. And recently Tata Groups donated 1000 cr rupees to cancer patients and that is the reason Ratan Tata is a great Indian entrepreneur as well as a great person.
And the most contributed part of the Tata Groups and Sons was that they always think about their employees because they always provide the best facilities and perks to their employees and this was also a reason why he is also known as great Indian entrepreneur.
And on 12 January 2017, Natarajan Chandrasekaran was named as the chairman of Tata Sons, a role he assumed in February 2017 and 2012 this great Indian entrepreneur resign from the chairman of Tata Groups and Sons. So this is the success story of Ratan Tata or Great Indian entrepreneur
Tata works more than 100 sectors like consumer products, engineering goods and telecom goods also that’s why he is a great Indian entrepreneur.
He is known as a great Indian entrepreneur because he believes that success is the best revenge.
Personal Life of Ratan Tata
If we take the personal life of Ratan Tata Many of you want to know that is Ratan Tata married or not? He is unmarried but in an interview he said that “he was fall in love four times in life”. His favorite color is White also Ratan Tata loves to spend his holidays in Calfornia. Ratan Tata has its own car collection in which the world’s most expensive cars are included like Land Rover Freelander, Mercedes Benz S-Class, Jaguar XF-R, Ferrari California and many more. Tata spent most of his time with his dogs and pets. So this about the personal life of Ratan Tata and success story of Ratan Tata.
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I do not believe in taking the right decisions. I take decisions and then make them right. – Quote by Ratan Tata