Best 5 success keys of Ratan Tata | A Story of Ratan Tata. You must have heard that 90 percent start up in India Fails just within 5 years and only 5 percent businesses able to survive till 10 years,
So through this you can understand that there are only few great companies who able to complete 100 years milestone.
Research shows that only 0.01 percent or less than that companies able to survive for 100 years. Now if i talk about Tata Company, Then Yes Tata is the company which is one of the kind.
Tata Company is one of the super rare company which is working since 150 years.
They are not surviving they are working so great that today Tata Company handle more than 100 companies in more than 100 different countries, their product and services are used around 150 countries
Now if i name Their Popular products then it includes, Tata Steel, Tata sky, TCS 50, Tata Motors, Tata Powers, Titan, Taj Hotel Group, Lakme etc.
As per march 2018 Data Tata Group Publicly Listed Enterprises their total capital for more than $150 billion And out of 100 billion dollar revenue 60 percent income was from out of India such as from England & USA
Tata Group comes under 7th largest private limited company as related to Employees, More than 6 lakh 95 thousand people work with Tata Not only This Tata Group come as 11th position By Forbes for the Most Reputable company.
As per Survey Tata has come to 34th position out of 500 for Most valuable company and Credit for all these successes goes to Tata Group Leaders From Jamshed ji Tata Till Ratan Tata many great leaders has managed the Tata group, they all have kept certain Rules principles and wisdom in their minds and those principles have made Tata Group as one of the most valuable brand all across the globe.
Hence, it is very important for us to learn from Tata group mentors, it is important to learn their wisdom as i always say learn from them and apply it in your life so that even we can become successful.
We can learn many things from all the leaders of Tata Group but today i specifically share 5 success and business lessons of Ratan Tata with the help of which he managed to bring many successes to Tata Groups.
Example in his 21 years of Leadership, Ratan Tata raised 50 percent of Profit and raised 40 percent of Revenue, and also did out of India Expansion and many things which i have shared before is being done under Ratan Tata’s Leadership.
Best 5 success keys of Ratan Tata | A Story of Ratan Tata
No.1) TVC (TRUST VALUES COMMITMENT)
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, now this was shocking, because Ratan Tata By himself searched Cyrus Mistry after a 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.
In fact all had a great hope from Cyrus, hence when he was suddenly removed, and 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 companies debt, Cyrus bad management etc.. But the Actual Reason as per experts were, that Cyrus was focusing more on Profits instead of Tata group’s.
No. 2 ) Values and commitments.
Example, When Japan Company NTT DoCoMo came to India in 2009 at that time they bought 26 percent stakes from Tata in 13 thousand cr. 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 Tele services wasn’t working properly, hence DoCoMo decided to leave, when all that situation was going on at that time Cyrus Mistry was appointed as a Chairman.
DoCoMo asked Tata to search for a good buyer but when Tata didn’t able to find, then DoCoMo asked Tata to buy their shares as per the deal
But Expert says, at that time Cyrus used RBI Guidelines against DoCoMo and refused to give money and started legal fight against DoCoMo, because as per him giving money wasn’t a good business decision.
Now DoCoMo find it very unacceptable, because they were doing business with Tata, because 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 of Cyrus Mistry Termination.
In an Interview Ratan Tata Said that for him trust is the number one Priority.
He said that It is customer’s Employees and Shareholders trust is the main foundation on which any business can survive. You will find many people, who will do anything for their own good or for 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 isn’t like this, they know that people’s trust is the most important thing and because of this Tata able to stay successful in across globe since so many years, hence even you focus on trust and focus more on values and commitment compare to profits.
No.3) Success in listening
Very Few People know that at start Ratan Tata got a job offer from IBM. But he refused to work there, he came to Tata Steel and work on floors just like other Tata Employees. He also did small work, in interview he said that in starting of his career. He spend his life 8 years in training programmes in two to three companies shop floor.
He said, at that time he used to find it useless, he used to think that it’s just waste of time but later he realised that those 8 years training programme and learning was his life best investment.
Ratan Tata Says That Learning and listening these two things will take you very long in your life. In fact in a graduation ceremony he gave speech to Graduated youth.
Many people don’t understand what they should say to students who just completed their graduation but the only thing i will say that just because you students have degree doesn’t mean you’ll should stop learning, Never think that you are done with your studies instead even after graduation and completion of studies you should keep learning.
You should listen and learn from it with humility because people who become successful are those who always keep learning, who always listen and learn.
No.4) Emotions for success
There is a Ratan Tata’s famous story. I am sure you must have heard about it, but still it’s so great, it teaches such a great life lesson that i will again repeat it, when Ratan Tata Created a Tata Indica car, it doesn’t work in the market because of which he faced a great loss, hence to overcome the loss, experts and his partners Suggested him to sell his company, he unwillingly accepted the suggestion with the decision of selling his company he went to America to sell his company to Ford Company, when he was in the meeting at that time ford company’s owner Insulted Ratan Tata.
Ford Owner said: WHEN YOU DON’T KNOW HOW TO MAKE CARS, WHY YOU EVEN TRIED, WE ARE DOING A GREAT FAVOUR ON YOU BY BUYING YOUR COMPANY.
This thing wasn’t liked by Ratan Tata, hence he left from there with his partner and refused to take the deal too, he didn’t wasted his anger and insult, instead he took that insult as an Motivation after which he did lot of hard work, he did lot of research, and finally he took Tata Motors to a huge successful position, things didn’t stopped here.
A time came when Ford Company wasn’t working properly, Ford Company was facing loss, because of the loss Ford decided to sell their two brands Jaguar and Land Rover.
When Ratan Tata came to know about this, he decided to buy both the brands as a result Bill Ford sold both of his car to Ratan Tata By Saying that YOU ARE DOING FAVOUR ON US
BY BUYING THESE TWO BRANDS
This is the best was to use Emotions and taking Revenge, Most of the people in anger abuse, say bad things fight and do bad to themselves, But Ratan Tata Used his Anger as A Motivation and converted it to a profit even you should be like this, instead of getting defeated by the emotions use your emotions for winning.
No.5) Team work
As per Ratan Tata single person can’t achieve great things because a great team is must to achieve it. Every Single employee who is working with you is your team and it is very important for you to take care of your team, now let’s talk about facts, Tata was the first company who brought 8 hour working rule in 1912 which was later Followed by Henry Ford.
In 1917 Because of Tata’s Advance thinking they started giving medical health benefits to their Employees which again inspired many companies world-wide and started following it.
Tata Group always trust and values their team members,
Hence you will see many people saying that if you want to earn then invest in Reliance but want to work THEN WORK for TATA.
Remember that team work is very important for your success and your team work will be best when you will have strong team and your team will become strong when you value your team.
No.5) Believe in Your Decisions
Many Doubted Ratan Tata’s Decisions many a times
Example when he didn’t sell his company to Ford when he refused to sell companies which was going through loss when he bought Tetley Tea in 450 million dollars his decisions were questioned many times, however he had believe in his decisions therefore he took it without listening to others and he made Tata tea world’s second largest tea company.
As per Ratan Tata. It is not like that he never took the wrong decisions but the most important thing which he again said to students in a speech was:
THAT YOU MUST DO WHAT YOU BELIEVE IN RIGHT, WHAT YOU THINK IS RIGHT
MANY TIME PEOPLE WILL SAY MANY THINGS TO YOU, WILL SAY WRONG TO YOU,
MAXIMUM TIME PEOPLE WILL NOT SUPPORT YOU, VERY FEW WILL SUPPORT YOU
BUT IF YOU BELIEVE THAT WHAT YOU ARE DOING IS RIGHT, THEN YOU MUST GO FOR IT EVEN IF ITS TOUGH
Yes many times you will take wrong decisions but you must not afraid of it Instead you must learn from it and be more intelligent with your next decision.