Write a short (2-3 page, double-spaced, typed) essay, identify at least one impo

Question

Write a short (2-3 page, double-spaced, typed) essay, identify at least one important entrepreneur that you would consider an "entrepreneurial legend" and state why you consider the person to be (or have been) exemplary. You must also identify at least one economic decision made by this entrepreneur that was significant in their success and provide a detailed example of that decision. Your reason for selecting the person should include examples of managerial economics and should include other criteria such as social responsibility and ethics.

Explanation / Answer

Ratan Tata as an “entrepreneurial legend”

Ratan Tata has been the Chairman of Tata Group for almost two decades. He is a true example of a distinguished entrepreneur. A quiet personality and his low profile style is what make him the leader that he is. His silent determination has made the company a global name.

Ratan Tata was born on 28 December 1937 in Bombay, India. Ratan Tata’s father was Naval Tata and mother was Sooni. At an age of seven Ratan Tata’s parents got separated. After his parents separated in 1944, he was brought up by his grandmother Lady Navajbai and did his schooling in Mumbai from Campion School. Later, he enrolled in Cornell University, where he earned a B.S in architecture with structural engineering in 1962, and has also completed the Advanced Management Program at Harvard Business School.When he returned to India in 1962 after turning down a job with IBM on the advice of JRD, he was sent to Jamshedpur to work on the shop floor at Tata Steel.In 1971, he was appointed the Director of National Radio and Electronics(Nelco).In 1981, JRD Tata stepped down as Tata Industries chairman, naming Ratan as his successor. He was heavily criticized for lacking experience in running a company of the scale of Tata Industries. In 1991 he was appointed group chairman of the Tata group. Under his stewardship, Tata Tea acquired Tetley, Tata motors acquired Jaguar Land Rover and Tata Steel acquired Corus, which have turned Tata from a largely India-centric company into a global business, with 65% revenues coming from abroad. In 2009, Tata launched the world’s cheapest Car Nano. For just 1 lac rupees.

He is widely credited for the success of the Tata Group of companies, especially after the liberalization of controls after the 1990s. Ratan Tata retired from all executive responsibility in the Tata group on December 28th 2012 which is also his 75th birthday and he is succeeded by Cyrus Mistry. Now a day’s Tata owns more than 100 Companies.

International Recognition of Ratan Tata:

Ratan Tata: A Man of Ethics and True & Social Server:

Awards and Honours received by Ratan Tata:

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