LESSONS FROM RATAN TATA
Born on 28 December 1937 in Surat, Ratan Naval Tata has been awarded Padam Vibhushan and Padam Bhushan in the year 2008 & 2000 respectively for his contribution towards trade and industry. The chairman of Emeritus of Tata Sons, Ratan Tata is known for his vision and ability to lead and innovate. Not only has he contributed to the trade & Industry but to society as well. There are many things that we can learn from Ratan Tata and here are a few
If you remember, then you must have heard the news of Tata Groups in 2016, that how Tata Group suddenly removed Cyrus Mistry from his chairman position. This was shocking because Ratan Tata himself searched Cyrus Mistry after year research and efforts for a chairman Position, he believed that Cyrus will be the right person and he is capable of taking his position all had a great hope from Cyrus, hence when he was suddenly removed, the then entire corporate world was talking about him and about why he was removed suddenly by Tata Group. Well many possible reasons were told by many people such as after Cyrus joining Tata has seen Negative growth, there was an increase in company debt, Cyrus bad management, etc. But the Actual Reason as per experts was, that Cyrus was focusing more on Profits instead of Tata group’s values and commitments.
The perfect example was when Japan company NTT Docomo has come to India in 2009, at that time they bought 26 percent stakes from Tata in 13 thousand crores, when this deal happened, at that time Tata promised DOCOMO that they can leave whenever they want and they will be refunded as per the market value, if not that then at least half investment will be refunded. Now due to some problems, when Tata teleservices weren’t working properly, hence Docomo decided to leave. on at that time, Cyrus Mistry was appointed as a Chairman. Docomo asked Tata to search for a good buyer, but when Tata wasn’t able to find, then Docomo asked Tata to buy their shares as per the deal. But experts say, at that time Cyrus used RBI Guidelines against Docomo and refused to give money and started the legal fight against Docomo because he thought giving money wasn’t a good business decision. Now Docomo finds it very unacceptable because they were doing business with Tata, and they trusted Tata’s goodwill because Tata’s name is very famous all across the globe for their values and commitments, and Even Ratan Tata find Cyrus decision unacceptable, hence this unacceptable decision became the biggest reason for Cyrus Mistry termination.
In an Interview, Ratan Tata Said that for him trust is the number one priority. He said that the trust of customers, employees, and shareholders is the main foundation on which any business can survive. You will find many people, who will do anything for their good or their business, they will lie, say anything, do wrong commitments, break trust, just for their short term profit or benefits. But Tata Group and Ratan Tata aren’t like this, they know that people’s trust is the most important thing, and because of this Tata able to stay successful across the globe for so many years. hence you focus on trust and values and commitment compare to profits, then only you can survive in the world.
LESSONS FROM RATAN TATA
By TradeFlo
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