This is an excerpt from the book The Tata Saga – Timeless Stories From India’s Largest Business Group published by Penguin Random House India. The Tata Saga is a collection of handpicked stories published on India’s most iconic business group. The anthology features snippets from the lives of various business leaders of the company: Ratan Tata, J.R.D. Tata, Jamsetji Tata, Xerxes Desai, Sumant Moolgaokar, F.C. Kohli, among others.
There are several inspiring stories about India’s most iconic, Tata group: whether it is Jamsetji Tata creating enormous wealth 150 years ago, or Ratan Tata launching India’s first indigenously developed car, or the creation of Tata Consultancy Services.
Here are 5 valuable lessons from the TATA Group for entrepreneurs:
1. Dream Big
It is important as an entrepreneur to be able to dream big and has big ambitions. Tata Finance Limited showed with its rapid growth and bright visage to be a one-stop financial services shop, the likes of India had never seen before.
2. To be able to do the right thing
It’s transparent, upright handling of any crisis has only enhanced the Tata brand. As a company, your response to an error committed is what helps you stand tall through the tests of principles and character.
Learn MBA Programs from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career.
3. Have Courage
There will be times that nobody will believe in you. Tata Motors had no dearth of naysayers who refused to believe in an Indian car and yet they built India’s first indigenous car.
4. Fall down, but always get back up
Tata Motors itself is a great example of how a company can stumble but also pulls itself up quickly. They built a new version of Indica that was a success.
5. There’s a silver lining around the dark clouds
There will always be problems and issues but how you act as a company through them will bring you closer together, and stronger.
To know more about interesting stories of the Tata group, read The Tata Saga: Inspiring stories From A Timeless Institution, published by Penguin. It also answers questions like – How did Jamsetji Tata win over British resistance to start Tata Steel? How did JRD lose control of Air India? Why did Ratan Tata face opposition to become the chairman of Tata Sons? What happened inside the Taj Hotel on 26/11?
If you want to learn more about marketing and entrepreneurship, Liverpool Business School & upGrad offers Master of Business Administration (MBA) Liverpool Business School which helps you to transform your career. The program provides 1-on-1 mentorship from industry leaders, 1-week immersion program at University campus, dual credentials (MBA from LBS & PGPM from IMT), network with peers at offline basecamps and more.