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7 Business Rules Of Ratan Tata
The below are the 7 business rules of Ratan Tata.
The following are the rules which he followed to be a successful business man
1Believe in yourself
After Tata took charge of TATA company, TATA company was not doing its operations out of India. Ratan wanted to expand his business out of India.But he faced stiff resistance from so many companies heads. Under Jrd Tata, Some of these heads spent decades of years in their respective companies and became very powerful and influential due to freedom to operate. So Ratan Tata replaced them by setting the retirement age. He gave more priority to innnovation and infused younger talent by giving responsibilities. Ratan Tata made all the individual companies operationally report to Tata group office by contributing their profits. Under his stewardship, he streamlined all the overlapping operations in group companies into a synergized whole. He expanded salt to software to take on globalization.Later Ratan Tata expanded his business in other countries also. He boldly took the decision like Tata tea to acquire Tetley, Tata motors to acquire Jaguar and landrover and Tata steel to acquire corus.
Till 1971 Tata worked as a blue collar employee at Tata steel Jamshedpoor despite of being born in wealthy family. Even at the age of 70 he drives his car and he doesnot like to have body guards .
3Follow values in business
He maintain quality in products, customer satisfaction, employees safety core values always.When he was assigned his duties from JB Tata he decided to follow all the values, So he has the fame as a good man rather than a good business man in people.
He likes to take risk. He will not take right decisions. He will take the decisions and he will make them right. To improve one’s business one should not be safe. He should take risky decisions and make the things right where they are wrong. This give success. Even though many people advised him not to buy the foreign countries’ companies, he bought all those and he made them get profits.
5Don’t take criticisms
Take the stones the people through at you and build the monument. This is Rantan Tata’s policy. Criticism is inevitable. No matter how well you deal with it. But one should not give up. One should use the criticism as a tool to fuel their efforts. So many innovative people give up their efforts because of the critics by someone. Every piece of criticism will turn into successful story if one tries for that rather than give up.
6Be creative and innovative
Like many business men Ratan is creative. He believes that innovation is key to success. One should think in his own way rather than by copying others. By copying others one will lose their individualityand stay back. One should put his efforts to be innovative and creative. This makes him to be succeed on one day. You will be proactive and think about the future situations which may lead to be careful in keeping the things better and get succeed .
7Don't put your eggs in one basket
Ratan Tata did not invest all his money in at one place. He also invested in starts up like snap deal, ola, paytm, cure.fit, car dhekho, urbanclap, clima cell when these were as starts up. These are all now in very good rising position.
Conclusion: These are the rules which made Ratan Tata a successful businessman. He steel our hearts with the great qualities like humbleness and humanity by spending more of their income to charitable activities.
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