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Ratan Tata: From an entrepreneur, management, and philanthropic perspective
Ratan Tata, the former chairman of Tata sons has played an essential role in Indian business map for several years. He was born on December 28, 1937, now he is 72 years old, and he is the great grandson of Tata Group founder – Jamsetji Tata. During his chairmanship, Ratan Tata fumed Tata Group into a vast worldwide industrial and service company, stressing at the same time on the standards of corporate morality and organism’s responsibility on the one hand, as well as experimentation on the other.
Transforming the Tata Group
Ratan Tata held the Tata Group’s leadership since 1991, the time when economic liberalization was opening the new opportunities in India. During his tenure, the group diversified into offering its services to sectors such as information technology, telecommunications and automotive. Among the major milestones when he was at the helm of the company was the unveiling of the Tata Nano that was targeted to be an affordable car for the many. The Nano, however, received many different obstacles and demonstrated Tata’s idea of innovation and social responsibility.
Furthermore, Ratan Tata undertook major mergers and the most significant acquisitions that the Tata group took to a global platform. The acquisition of British brands of luxury cars, Jaguar and Land Rover in 2008 can be typical of Tata’s grand entry into the international field. Besides, it also revived the brands and brought advanced technology and professionalism into Tata’s managing system.
Social responsibility commitment
Besides business achievement, Ratan Tata was an active promoter of the policy of corporate social responsibility. This he believes that businesses should operate for the profit and not just for the profit of the business owners. Besides the long-standing tradition of being philanthropic in India, Ratan Tata has practiced being more liberal to the various causes that seek to improve on the social welfare of the country by giving more emphasis on education, health and the countryside.
In 2008, Ratan Tata kick started the Tata Trusts through which he wanted to make a change in Indian society. They are important in financing endeavours that enhance the stream of existence of several millions, particularly in rural settings. Many health care, educational and SD projects have been successfully implemented and all those projects under his mentorship transformed millions of lives.
A Legacy of Inspiration
Ratan Tata retired in 2012 but he is still a prominent Indian and world citizen recognized by many. His leadership approach of being visionary accompanied by his humble nature championing for ethically acceptable practices in the business world to this generation and budding businessmen and women. He also directly mentoring start-ups through programmes such as the Tata Start-up Fund which promotes emerging concepts in latest fields.
Ratan Tata has also graced the new world we are in via modern technology, including hisogy Tiger digital startups as well as investments in technology solutions. He is able to inspire the upcoming generation to make use innovative technology in order to create a society that he possesses.
Recent Developments
Recently, Ratan Tata has also remained in the news over his passion for innovation and charity works. His engagement in programs dealing with important concerns like health care facility during the COVID 19 crisis, involvement in the startup space epitomises his commitment towards the growth of India.
Further, on the social responsibility front, Ratan Tata has commented on the fact that there is a need to embrace the right standard especially in an ever emerging corporate world. In supporting transparency and integrity, his message was about the fact that it is good to conduct business profitably, but not at the expense of right practices.
Conclusion
The role that Ratan Tata has played in the business world and the larger society is ground breaking. This vision alongside a firm belief in social responsibility standards, have endeared him as a role model to corporate giants. As he keeps on mentoring the young talents, Ratan Tata through his efforts shows that even business has he potential of positively influencing the future.
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