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Chapter-I Introduction

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Chapter-I Introduction CHAPTER-I INTRODUCTION 1 INTRODUCTION Tata Group Type Private Industry Conglomerate Founded 1868 Founder(s) Jamsetji Tata Bombay,house Headquarters Mumbai, India Area served Worldwide RatanTata Key people (Chairman) Steel Automobiles Telecommunications Products Software Hotels Consumer goods 2 Revenue 319,534 crore (US$69.34 billion) Profit 8,240 crore (US$1.79 billion) Total assets US$ 52.8 billion (2009-10) Employees 396,517 (2009-10) TataSteel TataSteelEurope TataMotors TataConsultancyServices TataTechnologies TataTea Subsidiaries TitanIndustries TataPower TataCommunications TataTeleservices TataAutoCompSystemsLimited Taj Hotels Website Tata.com Tata Group Companies CMC · Tata BP Solar · Tata Coffee · Tata Chemicals · Tata Consultancy Services · Tata Elxsi · Tata Interactive Systems · Tata Motors · Tata Steel · Tata Power · Tata India-basedTea · Tata Communications · Tata Technologies Limited · Tata Teleservices · Titan Industries · Tata Voltas · The Indian Hotels Company · Trent (Westside) · Cromā 3 Brunner Mond · Jaguar Land Rover (Jaguar Cars · Land Other Rover) · Tata Daewoo Commercial Vehicle · Tata Steel Europe · Tetley · VSNL International Canada Ginger · Good Earth Teas · Tanishq · Taj Hotels · I-shakti · Tata Salt · Brands Tata Sky · Tata Indicom · Tata DoCoMo · Titan · Westside · Voltas · Virgin Mobile India Notable Jamsetji Tata · Ratanji Dadabhoy · Dorabji Tata · Nowroji People Saklatwala · J. R. D. Tata · Ratan Tata · Pallonji Mistry Bombay House is the head office of Tata Group The Tata Group is an Indian multinational conglomerate company headquartered in the Bombay House in Mumbai, India. In terms of market capitalization and revenues, Tata Group is the largest private corporate group in India. It has interests in chemicals, steel, automobiles, information technology, communication, power, beverages, and hospitality. The Tata Group has operations in more than 80 countries across six continents and its companies export products and services to 80 nations. The Tata Group comprises 114 companies and subsidiaries in eight business sectors, 27 of which are publicly listed. 65.8% of the ownership of Tata Group is held in charitable trusts. Companies which form a major part of the group include Tata Steel (including Tata Steel Europe), Tata Motors (including Jaguar and Land Rover), Tata Consultancy Services, Tata Technologies, Tata Tea (including Tetley), Tata Chemicals, Titan Industries, Tata Power, Tata Communications, Tata Teleservices and the Taj Hotels. The group takes the name of its founder, Jamsedji Tata, a member of whose family has almost invariably been the chairman of the group. The chairman of the Tata group is Ratan Tata, who took over from J. R. D. Tata in 1991 and is one of the major international business figures in the age of globality. The company is currently in its fifth generation of family stewardship. The 2009 annual survey by the Reputation Institute 4 ranked Tata Group as the 11th most reputable company in the world. The survey included 600 global companies. On 9 February 2011 a major fire broke out in the Bombay House, the Tata Group's headquarters, causing three deaths and one injury, and reportedly gutting the building. HISTORY The beginnings of the Tata Group can be traced back to 1868, when Jamsetji Nusserwanji Tata established a trading company dealing in cotton in Bombay (now Mumbai), British India. This was followed by the installation of Empress Mills in Nagpur in 1877. Taj Mahal Hotel in Bombay (now Mumbai) was opened for business in 1903. Sir Dorab Tata, the eldest son of Jamsetji became the chairman of the group after his fathers death in 1904. Under him, the group ventured into steel production (1905) and hydroelectric power generation(1910). After the death of Dorab Tata in 1934, Nowroji Saklatwala headed the group till 1938. He was succeeded by Jehangir Ratanji Dadabhoy Tata. The group expanded significantly under him with the establishment of Tata Chemicals (1939), Tata Motors and Tata Industries (both 1945), Voltas (1954), Tata Tea (1962), Tata Consultancy Services (1968) and Titan Industries (1984). Ratan Tata, the incumbent chairman of the group succeeded JRD Tata in 1991. RATAN NAVAL TATA December28,1937(age 73) Born Bombay, Bombay Presidency, British India Residence Colaba,Mumbai, India Nationality Indian Ethnicity Parsi Alma mater CornellUniversity 5 Harvard University Occupation Chairman of Tata Group PadmaBhushan(2000) Awards PadmaVibhushan(2008) Order of the British Empire (2009) Ratan Naval Tata is the present Chairman of Tata Sons and therefore, Tata Group. He is also the chairman of major Tata companies such as Tata Steel, Tata Motors, Tata Power, Tata Consultancy Services, Tata Tea, Tata Chemicals, The Indian Hotels Company and Tata Teleservices EARLY LIFE AND EDUCATION Ratan Tata born to Naval Tata and Soonoo Commisariat in the Tata family, a prominent family belonging to the Parsi community. Ratan is the great-grandson of Tata group founder Jamsedji Tata. 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 with other blue- collar employees, shovelling limestone and handling the blast furnace. In 1971, he was appointed the Director of National Radio and Electronics (Nelco), which was in dire straits when he came on board: with losses of 40% and barely 2% share of the consumer electronics market. However, just when he turned it around (from 2% to 25% market share), the Emergency was declared. A weak economy and labour issues compounded the problem and Nelco was quickly near collapse again. 6 For his next assignment, in 1977 he was asked to turn around the sick Empress Mills, which he did. However, he was refused a Rs 50 lakh investment required to make the textile unit competitive. Empress Mills floundered and was finally closed in 1986.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. As group chairman, he has been responsible for converting "the corporate commonwealth" of different Tata- affiliated companies into a cohesive company. He has been responsible for the acquisition of Tetley, Jaguar Land Rover and Corus, which have turned Tata from a largely India-centric company into a global business, with 65% revenues coming from abroad. He also pushed the development of Indica and the Nano. He is widely credited for the success of the Tata Group of companies, especially after the liberalization of controls after the 1990s. RECOGNITION AND HONORARY APPOINTMENTS Ratan Tata serves in senior capacities in various organisations in India and he is a member of the Prime Minister's Council on Trade and Industry. Tata is on the board of governors of the East-West Center, the advisory board of RAND's Center for Asia Pacific Policy and serves on the program board of the Bill & Melinda Gates Foundation's India AIDS initiative. Ratan Tata's foreign affiliations include membership of the international advisory boards of the Mitsubishi Corporation, the American International Group, JP Morgan Chase and Booz Allen Hamilton. He is also a member of the board of trustees of the RAND Corporation, University of Southern California and of his alma mater, Cornell University. He also serves as a board member on the Republic of South Africa's International Investment Council and is a member of the Asia-Pacific advisory committee for the New York Stock Exchange. In 2010, he joined BMB Group as an advisory board member. He has also been appointed to the following honorary distinctions: 7 • honorary economic advisor to Hangzhou city in the Zhejiang province of China. FIRST Award for Responsible Capitalism. 26th Robert S. Hatfield Fellow in Economic Education, awarded by Cornell University • recipient of the NASSCOM Global Leadership Awards (2008) • Carnegie Medal of Philanthropy (2007), on behalf of the Tata family. • honorary citizenship of Singapore. • honorary doctorate in business administration by the Ohio State University, honorary doctorate in technology by the Asian Institute of Technology, Bangkok, honorary doctorate in science by the University of Warwick, honorary fellowship by the London School of Economics., and honorary Doctor of Law from the University of Cambridge. • honored as 'Businessman of the Decade' by The Federation of Indo-Israeli Chambers of Commerce (2010) .Legend in Leadership award from Yale (2010) ENGINEERING The Tata Nano, world's cheapest car • TAL Manufacturing Solutions exports titanium-composite floor beams that are installed in the Boeing 787 aircraft. • Tata AutoComp Systems Limited (TACO) and its subsidiaries, auto-component manufacturing • Tata Motors (formerly Tata Engineering and Locomotives Company Ltd (TELCO)), manufacturer of commercial vehicles (largest in India) and passenger cars • Jaguar and Land Rover • Tata Projects • Tata Consulting Engineers Limited • Telco Construction Equipment Company • TRF Bulk Material Handling Equipment and Systems, and Port and Yard Equipments. • Voltas , consumer electronics
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