Former chairman of Tata Group Ratan Tata died at around 11:30 pm on Wednesday night. Till now, the highest position in the Tata Group has been held by a member of the Tata family.
In such a situation, the question in the minds of many people is that after Ratan Tata's departure, who will handle his legacy? At present the command of the group is with N Chandrasekaran, he is not from the Tata family.
Now Noel Naval Tata's children Leah, Maya and Neville are in the group.
After its inception in 1868, the group's founder Jamsetji N Tata headed it till 1904. After him, the responsibility of the group went to Sir Dorabji Tata (1904-1932), JRD Tata (1938-1991) and till 2012, Ratan Tata. Currently, Ratan Tata's half-brother Noel Naval Tata's children Leah, Maya and Neville are working in the company like other professionals.
The eldest daughter, Leah Tata, holds a master's degree in Marketing from IE Business School in Madrid, Spain. In 2006, he joined Taj Hotel Resorts and Palaces as Assistant Sales Manager. Currently she is working as Vice President in The Indian Hotels Company Limited (IHCL).
Younger daughter Maya Tata had joined Tata Capital, the group's flagship financial services company, as an analyst. While his brother Neville Tata started his professional journey at Trent.
Established in 1868: Its products are included in our lives from morning till evening
Tata Group was founded by Jamsetji Tata in 1868. It is India's largest multinational company, its 30 companies in 10 different businesses do business in more than 100 countries of the world. Presently N Chandrasekaran is its chairman.
Tata Sons is the principal investment holding and promoter of Tata companies. 66% of the equity share capital of Tata Sons is held by a charitable trust, which works for education, health, art and culture and livelihood generation.
The total revenue of all Tata Group companies in 2023-24 was Rs 13.86 lakh crore. It provides employment to more than 10 lakh people. Its products are included in our lives from morning to evening. Provides everything from tea leaves to watches, cars and entertainment services.
5 business lessons from Ratan Tata
1. Risk Taker
- Ratan Tata took the risk of investing in new businesses like luxury car company Jaguar Land Rover. Also acquired Corus, Europe's second largest steel company. This investment took Tata Group to new heights of success.
- Tata acquired Tetley, the world's second largest tea manufacturer, in 2000. At that time this company was three times bigger than Tata Tea. After the acquisition, it became one of the largest tea companies in the world.
2. Decision Maker
- When Ratan announced his decision to make passenger cars in the 1990s, there was a lot of criticism. Over the next few years, he single-handedly modernized the company. Today Tata is among the most successful car companies of the country.
- In 2007, Tata decided to acquire European steel company Corus. It took his team a year to submit the bid. By then the price had increased, but he went ahead with it anyway. The company benefited from this.
3. Ideator
- It was Ratan Tata's idea to launch a car for Rs 1 lakh. In 2009 he launched Tata Nano. Even though it was discontinued in 2019 after failing on the sales front, this idea of Tata was highly appreciated.
- The Tata Indica, launched in 1998, was India's first indigenously designed and manufactured car. The idea of making it was Ratna Tata's. Also Tata Safari, India's first SUV which was launched by a telco (now, Tata Motors).
4. Leader
- Ratan Tata is a great team leader because he inspires people. He has a very clear vision for the company. This motivates employees to work towards this vision.
- Always being with the employees in their bad times makes him a great leader. Ratan Tata once reached the Friends Society in Pune from Mumbai to meet a former employee who was unwell for the last two years.
5. Innovator
- When Ratan Tata had full responsibility of Tata Group, he gave cars like Indica to Nano to India. Ratan Tata says that the future of any startup can be good only when new innovations are made in it.
- New experiments increase the guarantee of success of a startup. Ratan Tata invested in those startups in which maximum innovation has been done. He has investments in companies like Ola Electric, Lenskart, Paytm.
Graphics Source: VaskarAssets
