ASSIGNMENT
OF
BUSINESS ENVIROMENT
Submitted To: Mr. Rajpreet Singh Chhatwal
Submitted By: Abhishek Manchanda BBA-3B 1106464
RATAN TATA AS AN ENTREPRENEUR
INTRODUCTION
Born on December 28, 1937 Graduated with a degree in Architecture and Structural Engineering from Cornell University. Also completed advanced management programme at Harvard Business School. Appointed the Director-in-Charge of The National Radio & Electronics Company Limited (Nelco) in 1971. Became the Chairman of Tata Industries in 1981. Took over as Tata Group Chairman in 1991
CAREER
When he returned to India in 1962 after turning down a job with IBM on the advice of JRD, he was sent to Jamshedpur to work on the shop floor at Tata Steel with other blue-collar employees, shovelling limestone and handling the blast furnace. In 1971, he was appointed the Director of National Radio and Electronics (Nelco), which was in dire straits when he came on board: with losses of 40% and barely 2% share of the consumer electronics market. However, just when he turned it around (from 2% to 25% market share), the Emergency was declared. A weak economy and labour issues compounded the problem and Nelco was quickly near collapse again. In 1981, JRD Tata stepped down as Tata Industries chairman, naming Ratan as his successor. He was heavily criticized for lacking experience in running a company of the scale of Tata Industries. In 1991, he was appointed group chairman of the Tata group. As group chairman, he has been responsible for converting "the corporate commonwealth" of different Tataaffiliated companies into a cohesive company.
FOUNDATION(1868-1907)
The seeds of what would mature and become today's Tata group were laid long years before India became independent.
1868: Jamsetji Nusserwanji Tata starts a private trading firm, laying the foundation of the Tata group. 1874: The Central India Spinning, Weaving and Manufacturing Company is set up, marking the group's entry into textiles and its first large-scale industrial venture. 1902: The Indian Hotels Company is incorporated to set up the Taj Mahal Palace and Tower, India's first luxury hotel, which opened in 1903 1907: The Tata Iron and Steel Company established 27 May, 2011 1907: The Tata Iron and Steel Company (now Tata Steel) is established to set up India's first iron and steel plant in Jamshedpur. The plant started production in 1912. Sets up its first office overseas, Tata Limited in London.
GROUPS CONTRIBUTION
The groups contributions were not confined to entrepreneurship; Jamsetji was the moving force behind the setting up of the Indian Institute of Science and, after independence, there came the Tata Institute of Fundamental Research and the Tata Institute of Social Sciences. There was no ulterior motive in establishing these institutions; the objective was to help further the skills and capabilities of India and Indians.
CONTI
Before independence, the Tatas had a big role to play in laying the ground for an industrialised India. That changed, to a certain extent, after freedom arrived and the country started pursuing the Soviet model of development, with the emphasis on the public sector. Thats when many private enterprises, the Tata group among them, became targets for nationalisation. We went through a phase when we became an endangered species. For a long period of time we stood still because we were not allowed to expand, we were not allowed to enter any new businesses. Thats why the Tatas, bar a few exceptions, did not really grow between the 1950s and the 1970s.
How is the Tata brand perceived in the global marketplace? Is enough being done to promote it?
We are probably not doing enough to build the Tata brand globally, but we are one of the most recognisable corporate names coming out of India. Apart from size, market capitalisation and the rest, we are seen as a poster boy for ethical business, trustworthy and fair. Thats a model western companies feel comfortable with. We are also seen as a caring employer who understands its corporate and social responsibility, not just in the context of its own people but also the communities around our facilities and businesses. Some foreign investors accuse us of being unfair to shareholders by using our resources for community development. Yes, this is money that could have made for dividend payouts, but it also is money thats uplifting and improving the quality of life of people in the rural areas where we operate and work
ACHIEVEMENTS & AWARDS
Honored with Padma Bhushan, one of the highest civilian awards in 2000 Ratan Tata`s dream was to manufacture a car costing Rs 100,000. He realized his dream by launching Nano in New Delhi Auto Expo on January 10, 2008.
Honoury Order of the British Empire Knight Commander of the Order of the British Empire (KBE) in 2009.
First award for Responsible Capitalism.
26th Robert [Link] Fellow in Economic Education,awarded by Cornell University.
PRODUCTS OF TATA COMPANY
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