Ever pondered how the biggest MNC’s have reached the position they are today? It is not the result of the hard work of a year or a decade. In fact, it is the continuous hard work and dedication for centuries. History has shown us many times how newly emerged companies gained sudden success but was unable to keep up the position. At the same time, we also know companies who have always made sure to uphold their glory. Tata group is one such example. Its development story is inspirational as well as emphasizes the fact that slow and steady wins the race.
The starting of the Tata group dates back to 1870 by Jamsetji Tata. Before the starting of the company, he worked in his father’s company. Later in the 1870s with a capital of Rs 21,000, he found a trading company. Further, he went on to acquire a bankrupt oil mill and changed it to a cotton mill. After four years he sold it for profit. He mainly dreamt of four things in his life: 1. World-class hotel 2. A learning institute 3. Iron and steel plant 4. Hydroelectricity Power plant. Ultimately before his death, The Taj Mahal Hotel was opened which was the first hotel in India with electricity. It also has the place of the first luxury hotel.
After Jamsetji Tata’s death, the company was head by his son Dorabji Tata. Under his leadership, the company expanded He established the Iron and steel company in 1907. Western India’s first hydroelectricity plant, as well as the Indian Institute of Sciences, were established. Thereby, Dorabji fulfilled his father’s dream.
Further, under JRD Tata’s reign, the company gained a lot of net worth. When Ratan Tata became the chairman the group started to acquire more companies.
JRD Tata and Air India
Air India has a deep-rooted connection with the Tata group. JRD was a business tycoon as well as an Indian aviator. He founded the Tata Air Services in 1932 after achieving the commercial license. In the beginning, the airlines served in locomotion of troops, and in 1946 it became a public company. Then the name of the airlines was changed to Air India.
Motto and Principle
The company is guided by the motto of ‘Leadership with Trust’. The company also believes in the values of the development of its stakeholders worldwide. Tata group emphasizes quality, innovation, sustainable development, and business evolution. Their principal aim is ‘To bring enhancement in the quality of lives in the communities.’ The company is creating quality stakeholders to serve the world.
Tata Group and the Present Scenario
Tata group of companies is one of the earliest business companies in India. The company has established itself across 100 nations over 6 continents. Tata group is also a source of income for nearly 7 lakh employees. The company further has a group of subsidiaries. Starting from chemicals to Airlines, hotels, and many more. The market capitalization of the Tata group is around Rs 11.27 lakh crores.
Tata Group of Companies
The firm has diversified into many subsidiaries across the globe. The major companies include Tata steel, communications, motors, beverages, hotels, etc. It is also the owner of the name Tata group and trademark across the globe.
Tata group has always been a step forward in charity. The company donates nearly 60% of its profit for charity purposes. The charity is done in the form of education, free medicines, and in rural development. Additionally, the firm also has NGO’s operating in different sectors.