There is a huge difference in making money for oneself and creating wealth for others!!
And this is seen from more than a century by the legacy of the Tata’s.
This journey was started by Jamsetji Nusserwanji Tata, who was evidently the first chairman, in Baroda where he worked at his dad’s company until 29 years of age.He acquired bankrupt oil mill at Chinchpokli in 1869 and converted it to a cotton mill, which he forenamed Alexandra Mill. He disposed of the mill two years later for a profit. He set up another cotton mill at Nagpur in 1874.
He had four aims in life: setting up an iron and steel company, an unbeatable learning institution, an exclusive hotel and a hydro-electric plant. Just the hotel became a reality during his lifetime, with the inauguration of the Taj Mahal Hotel at Colaba water-front in Mumbai on 3 December 1903 at the cost of 11 million. At that time it was the only one hotel in India to have electricity.
His successors’ work led to the three remaining ideas being accomplished:
Tata Steel (formerly TISCO):
Jamsetji was the founder and is Asia’s first and India’s largest steel company. It became world’s fifth largest steel company after it bought Corus Group producing 28 million tonnes of steel annually.
Indian Institute of Science, Bengaluru, an esteemed Indian institution for research and education in Science and Engineering also the Tata Institution for Social Sciences is extremely popular too.
Tata Hydroelectric Power Supply Company, renamed Tata Power Company Limited, presently India’s largest private electricity company.
Followed as the 2nd chairman in 1904 and was conducive in setting up of Tata Power and Tata Steel. He was also the reason for the creation of Tata Trust.Also, Lady Tata Memorial Trust, which researched leukemia because that triggered his wife’s death which had motivated him to establish the cancer research trust.
Also, Lady Tata Memorial Trust, which researched leukemia because that triggered his wife’s death which had motivated him to establish the cancer research trust.
The nephew of Jamestji Tata began as a novitiate in one of its mills in 1889 and then followed as the group’s first non-Tata chairman in 1932 following Dorabji’s death.
At the time of his term, he was obliged for several firsts regarding labor reforms with the introduction of profit-sharing arrangements with employees and increased the wages of the least paid workers of the temporary employees at the Tata Iron and Steel Company in Jamshedpur.
The fourth chairman of the group took charge in 1938 and is deemed the pioneer of civil aviation in the Indian subcontinent. He entered the group as an unpaid trainee in 1925, and in 1929 joined the board of Tata Sons.
JRD launched Tata Airlines in 1932, which subsequently became Air India. He remained the chairman of the group till 1991.
Although born in a very uptown and affluent family, Ratan Tata joined Tata’s business as a regular employee in 1962 in tata’s Steel’s Jamshedpur plant.
He handled blast furnace and operations like a regular engineer would do.
His views on JRD legacy were ” when you step into somebody’s shoes when the shoes are huge; you ask yourself a question how do I feel those shoes?” Thus he resided as the fifth chairperson.
In 21 years of his chairmanship of the Tata Group, both the revenues to 40 times and profits to 50 times of the group grew. Also, he’s well-known for the pitch of India’s first cheap car Nano, and popular for the automotive co’s takeover of British giant Jaguar Land Rover.
Below are some amazing quotes by The Tata’s, which I am sure would be a huge source of inspiration for all…
- Money is like Manure.
It stinks when you pile it;
it grows when you
- Six Ethics of LifeBefore You, Pray Believe
Before You, Pray Believe
Before You Speak Listen
Before You Spend Earn
Before You Write Think
Before You Quit Try
And Before You Die Live.
- What I would like to do is to do is to leave behind a sustainable entity of a set of companies that operate in an exemplary manner in terms of ethics, values and continue what our ancestors left behind.
- “Quality is first engineered; only then it is inspected”
- “Take the stones people throw at you and use them to build a monument.”
- To be a Leader, You have got To Lead Human Beings With Affection.
- The day I will not be able to fly, will be a sad day.
- If you want to walk fast walk alone, But if you want to walk far walk together.
- I admire people who are very success But If that success Has been archived through too much Ruthlessness, then through too much Ruthlessness, then I may admire that Person but I can’t Respect Him.
Nobody can ever deny the power of a good quote.