Ratan Tata is one of the most important businessmen in India today who has not only speerheaded the $108.78 billion large Tata Group of Companies till date, but has always stood for personal values of discipline, dedication and business ethics. Ratan Tata’s principles in business are simple to understand and even follow, but many miss out on the fact that his business principles are just as applicable to life as they are to business. Here is why:
Ratan Tata’s Top Ten Principles in Business And Their Relativity To Common Life
- The first splash is always heard the loudest. Whether you are a businessman or are a simple family man, it has to your first priority to make a difference in the lives of employees, friends and family.
2. Healthy competition is one of the best ways to not let yourself drown in despair after successive failures. In business, it is a great lesson. And in normal life, whenever you feel low just look for people around you who are doing well and take in motivation from them.
3. Another key strategy of Ratan Tata has been not suffer after one or two failures. The launch of Tata Nano, India’s first car that cost only 1 lakh, came with mixed market response. However, Ratan Tata remain unflinched in his resolve and in spite of initial losses, the sales of the car picked up and has been going steady ever since. We do know how much important this principle is to life.
4. Life is not fully lived unless you take chances and learn how to survive the odds of new challenges. From business decisions to life decisions, nothing ever lasts forever except the experience. So, do it!
5. You could be the king of the world but you would not be considered of a great mention in history unless you are humble with the people you live and the people you rule. The same holds for businessmen and common people like you and me.
6. The ways of the world are meant to be mastered. but when it comes to facing crisis, or simply leading the way, it is always your true self that will help. No false mannerisms can beat humility. No ambition can beat your true desires. But every aim can be fulfilled by following the right example and one’s truthfulness to one’s own self.
7. In business, the main aim of the business leader should be to take steps that help employees and customers trust the company. Doesn’t this directly apply to us as well? Many of us understand how poorly trust issues affect daily relationships today. And then if we add communication to build trust, half the battle is won.
8. Communication, therefore, is the next important requisite in life to help people build trust in you through active communication.
9. Most of our beliefs are imposed by thoughts that we come across while talking to others. The spirit to challenge existing norms and try anything new or something that is belived to be unachievable is lost in following safe decisions. But if an amputee mountaineer could climb the Mt. Everest, we all can try the always no no tasks and come out with flying colors right?
10. Yes. This is the basic reality of human life. We follow our heroes like they are God to us and our dreams. We have to acknowledge the fact that having heroes in our lives helps us prioritize our goals and perform better than our own selves. Be it business, be it life!