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Ratan Tata demise: Here is one business empire that has stood above ground even when the capitalism debate has degenerated into political stone-throwing with no exceptions to the rule. Did Tata represent the exception as one would argue given his immense popularity across the political divide?
Industrialist Ratan Tata during conferment of honorary Doctorate of Literature at the first special convocation 2022 of HSNC University, in Mumbai, Saturday, June 11, 2022. (PTI Photo)
New Delhi: At a time when crony capitalism debate has put a question mark over the idea of capital and its profit motive, Ratan Tata’s business and life symbolizes the idea of inclusive growth.
Here is one business empire that has stood above ground even when the capitalism debate has degenerated into political stone-throwing with no exceptions to the rule. Did Tata represent the exception as one would argue given his immense popularity across the political divide?
Tata himself mirrors India’s journey from the control era economy to the era of liberalisation that dawned a new era. This journey have had its perks and perils even as the idea of a new developed India stood firm in his business vision. Tata stood for a new inclusive India and it is rare for a business leader to truly transcend demography and geography alike.
What made Ratan Tata, the phenomenon, he was! What does the outpouring of love across all divides tell us about the person and his persona? What made him so special?
1. He envisioned social contract as a founding principle of his enterprise long before World Inc made it a part of its core lexicon.
2. He envisioned business from the prism of the ordinary consumer to build iconic brands
3. He invoked the mantra of individuals being the institutions often shying away from the limelight. Each big ticket business division had its own set of iconic leaders who stood tall and it was this visionary leader who enabled that with ease and grace.
4. He envisioned each of his businesses as a people (human resource) led idea. Quite often, the idea of TAS (Tata Administrative Service) being more efficient and intellectually driven than our famed steel framework (IAS) made ground sense.
5. People being at the core stood as a key talk point of his brick-n-mortar businesses for they took pride in hosting generation after generation employee sets. He believed that a business entity is after all an extension of the promoter’s own family.
6. He rode like a colossus himself presiding over among the most diverse business empires but never displayed any like or dislike though personally aviation and automobiles defined his core DNA as a professional
7. He did face setbacks in face of some decisions that didn’t fire as per his imagination but he took the blame
8. He navigated the complex political labyrinth being at the cusp of the ever changing political landscape. He was the ultimate darling of politicians of all hues (save one embarrassment project in eastern India). He defined political consensus for a developed India.
9. His personality traits presented a unique mix: love for dogs to love for start-ups, love for tradition matched by love for modernity (technology).
The gentle giant of India Inc, Ratan Tata, has moved on but his legacy will endure generations.
For me, he led the 5P maxim re-inventing the essence like never before.
1. Purpose (multi-stakeholder capitalism)
2. Perseverance (navigating change, challenge & crisis)
3. Passion (build enterprise to scale to positively impact many lives)
4. Pride (build brands that inspire confidence in India in the global arena)
5. Power (draw power from the goodwill rather than pure play profit & loss statement)
Mark the order of priority! Profit is there but not an overriding sentiment. Wealth creation is all about making wealth permeate down the order and bridge the fiscal divide. That is the true RNT legacy to live for!
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