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Ratan Tata, Chairman, Tata GroupA shy, reclusive 54-yearold, with little to showon his business reportcard, took charge ofIndias largest businesshouse in 1991.Nineteen years on, BY: ABHISEKH RANJAN (11BM60109)Ratan Naval Tata has B I J U K . VA RU GH E S E (11BM60069)built a proud legacy. BRAJESH KUMAR (11BM60009) GYAN PRAKASH (11BM60073) PRANAY VERMA (11BM60065)
RATAN TATA – A touch of qualityThe impact is worldwide. Today the Tata marque is one of the most respectedin the world. Premier Tata companies have established a global footprint andshare a table with the biggest players in their respective segments. Consider thesefacts: Tata Chemicals is the world’s second-largest producer of soda ash. Tata Motors is the world’s fifth-largest manufacturer of commercial vehicles. Tata Steel is the world’s sixth-largest producer of steel. Titan is the world’s fifth-largest watch manufacturer. Tata Consultancy Services (TCS) is Asia’s No 1 information services company.
Strategies for communicating change Clearly portrayed the impending changes, and took firm decisions- On taking over in 1991, Ratan Tata dusted off the 1983 plan of Tata Sons and updated it, taking the newly-opened economy into account Commanding and logical style for communicating the change to his employees Envisioned the direction of economy and policies and motivated his employees- He motivated the senior management to consolidate the business accordingly, and embrace change to leap ahead. Gave great importance to Human Relations- Maintained that Human Relations brings great personal rewards and is essential for the success of his organization Redefined Success for Tata Employees- Put forward the principle that Success is worthless unless it serves the Needs or interests of the country and it’s people and is achieved by fair and honest means - Led to successful projects like TATA NANO and TATA Swach.
Skills for communicating change Ratan Tata is a terrific combination of the four necessary leadership characteristics: Character, commitment, competence and courage. Led by example, Tata is an amazing indefatigable individual: Would never postpone anything. Persistance and Constant Motivator: Immense persistence in always moving closer to his goal, even if this goal keeps shifting, constant motivator. A very discerning person: Once he made up his mind, along with his team, he would go all out to achieve his objective, be it Corus or Nano A deep thinker and extremely strategic: He stayed always 2-3 steps ahead from his competitors and motivated his team accordingly.
Consolidating change Criticism and internecine battles: Ratan Tata didnt let the criticism and internecine battles deflect him from his chosen path. Technology and Global Competitiveness: Ratan Tata believed the thrust is equally on technology-driven leadership, global competitiveness and being among the top three domestically, regardless of the line of business. Reorganising the group companies: When Ratan Tata took over, there were three group companies, manufacturing cement; five were involved in pharmaceuticals, while nine companies operated in the IT space. One of Tata’s first acts was to sell Tomco; swift exits from pharma and textiles and, later, cement, followed. Getting the best in class services: Management consultancy McKinsey was brought on board to help with the re-organisation. The Tata Group is still a diversified, salt-to-software group, but now there is a method to the business expansion.
Consolidating change Consolidated Tata Sons: By 1998, there was a single group logo and the Tata brand belonged to Tata Sons. Now, companies needed to sign brand equity and business promotion agreements with Tata Sons before they got use of the brand name. Inculcated a Group Culture within the Tata Group: The group-culture Ratan Tata has created will stay on as his legacy – As per the law firm AZB & Partners, which has advised the Tatas on acquisitions like Corus and Jaguar Land Rover. Design and Strategy to revive companies: Tata put design into the group -- in mergers and acquisitions, engineering or cars or anything else. It is a very forward-looking strategy, putting new competency in very old companies Institutionalised processes: The reputation of the group and its guiding principles are uppermost in his mind while taking decisions
References: Economic Times http://www.tata.com/pdf/tata_review_apr_09/book_review_models _and_milestones.pdf Rediff.com Ratan Naval Tata – Wikipedia http://www.tatasteel100.com/