India’s expert of industry and the former chairman of Tata Sons Ratan Tata died at the age of 86 on the 9 of October 2024. Following his admission in the Breach Candy Hospital in Mumbai for several days largely due to ailments associated with old age, he died. This past week was the last for an Indian business agent as Tata was not only a successful industrial capitalist, but also a man of integrity and moral probity who derived as much pleasure in donating part of his accumulated wealth in charity as running his business empire with high standards of ethical and moral integrity as well as leadership.
Tata takeover of Tata Group occurred in 1991 and at this time the conglomerate was largely domestic in orientation. During his tenure, the company expanded its scale to become a truly multinational enterprise taking on some significant purchases such as Tetley Tea Company, Corus Steel and Jaguar and Land Rover. These strategic directions served not only to increase Tata’s visibility in the global market but also changed the group revenue that has risen from more than 10,000 Crore rupees in 1991 to more than 100 billion US dollars in 2011. He was able to transform the Tata Group into a worldwide corporation that can spread its business over different fields like car manufacturing, steel industry, telecommunications and software.
Other than business, Ratan Tata was more passionate about Philanthropy and Social responsibilities. Tata trusts over which he presided greatly supported education, health, agriculture and rural development as well as disaster management. The simplicity and humility he carried with him all through his life earned him a place in the hearts of many in the corporate world as well as the general public. To the credit of the volumes that were produced and the services that Tata made to society, he was posthumously awarded the second highest civilian honor of India, the Padma Vibhushan in the year 2008.
Later Tata resigned as chairman of the group in 2012 but still continued to be associated with the group as chairman emeritus. His departure has been widely felt in many ways, both in business and charitable organizations. Condolences have been received from all parts of the world, and people have expressed admiration for his prophetic direction and demonstration of the culture of heart in business. His work will remain relevant for future generations of managers and business people
It may be stated that the life and work of Ratan Tata are characterized not only by successful business activity but by compliance with the highest ethical standards, philanthropy, and humane values. Cyril transformed the Tata group of companies into a world class global business organization and the consistent values of the organization remain to be integrity, humility and the welfare of society. Outside the corporate world, his philanthropic work through the Tata Trusts and Tata Foundation make millions of lives better especially in the areas of education, health care and agriculture.
Tata means much more than the business empire globally; it epitomizes the essence of leadership that comes from human-heartedness and meaningful missions. It is thus clear that the unique mixing of business values and sound ethical framework provided and installed a very indelible influence in the industrial as well as social development of India. In his death, the world is celebrating his life and achievements and continues to relax that business and a better world do not operate as mutually exclusive propositions.
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