Ratan Tata is an inspiration for many not just in India but across the world. Recipient of Padam Vibhushan and Padam Bhushan, Ratan Tata spearheaded the Tata Group from a $1.5 billion market cap to a $100 billion market cap. His life journey is an inspiration to all. If you are a student of a management course such as BBA (Hons), you must take a lesson or two from the success of visionaries such as legendary Ratan Tata. Learning about their success will give you an insight into how they dared to go think beyond the obvious and made things happen.
Here are some success lessons that students of BBA (Hons) can learn from Ratan Tata
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- Have a vision: In any business, having a clear vision is absolutely essential. It is more than just simply setting short-term goals. Defining a powerful vision helps everyone in the company to work towards a common goal. It unifies people into a team that is organised and focused. When Ratan Tata took the reins of the company, it was hardly doing any business outside India. It was Ratan Tata’s vision to go global much to many people’s opposition. It was this decision that made Tata Group a well-renowned name in the world. The company went on to acquire many international brands and today half of the revenues come from overseas.
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- Be creative: As a person who is looking to either make a career in the corporate world or do business, you will face many challenges. There will be many situations when you have to do a lot of firefighting. By being proactive and creative, you can choose a different and more studied response than the default reaction. In a motivating message to entrepreneurs, he called upon the creative, innovative and inventive bent of entrepreneurs to come with ways to run their business amid the COVID-19 pandemic.
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- Get out of your comfort zone: To be successful in business you need to take a risk. As they say, no risk no gain. From the very beginning of his career, Ratan Tata is well-known for taking risks. From launching Tata Nano to acquiring the second-largest steel-maker in Europe, Ratan Tata took brave decisions from time to time. He was famously quoted as saying, “I don’t believe in taking the right decisions. I take decisions and then make them right.”
- Be a calculated risk-taker: While Ratan Tata’s success shows that one should be a risk-taker to be successful, his journey also shows that one should not put all the eggs in one basket. To keep his investment safe, he believes in investing in different companies. A prolific investor, Ratan Tata has made numerous investment in many startups.
A BBA (Hons) is a great stepping stone to the corporate world. Unitedworld School of Business (UWSB), one of the leading BBA colleges in Gujarat, offers BBA (Hons) programme with specialisations in Finance, Operations Management, Marketing and Entrepreneurship and Family Business. Our BBA programmes are full-time and are designed to prepare students to excel in the corporate world. In collaboration with the industry, we offer several Industry Certification Programmes that help students gain invaluable knowledge and make them industry-ready.
