The Creation of Wealth: The Tatas from the 19th to the 21st Century - Softcover

Lala, R.M.

Softcover

ISBN 10: 0143062247 ISBN 13: 9780143062240

Publisher: Penguin, 2007

Synopsis

When Jamsetji Tata started a trading firm in 1868, few could have guessed that he was also opening an important chapter in the making of modern India. Jamsetji saw that the three keys to India's industrial development were steel, hydroelectric power, and technical education and research. A century and a half later, the Tatas can claim with justice to have lived up to the vision of their founder.

But the road to success has never been smooth. Appearing for the first time in this edition is the story of how the Tatas, with Ratan Tata at the helm, have had to grapple with change in the post-1992 era of economic reforms. In a frank epilogue, Ratan Tata talks about the difficulties he faced in implementing change, including resistance from his colleagues.

The Creation of Wealth is R.M. Lala's best-selling account of how the Tatas have been at the forefront in the making of the Indian nation—not just by their phenomenal achievements as industrialists and entrepreneurs but also by their signal contributions in areas like factory reforms, labour and social welfare, medical research, higher education, culture and arts, and rural development.

About this title

Product Description:

BRAND NEW, perfect condition.

Review:

India's greatest entrepreneur The book describes the evolution of the Tata Group since its inception in 1868. After reading this book, one realizes that Jamsetji Tata is one of the greatest entrepreneur the world has ever seen. The group has strengthened with time thanks to his incredible long term vision. If you are an investor in Tata companies or planning to be one, then you will find many interesting background details of various group firms in this book. The book provides interesting insights into the philosophy behind setting up of various group firms. Furthermore, there are interesting details regarding the initial struggles of the founders, especially while establishing themselves in the textile and steel business. In Nov 1924, for example, Tata Steel was on the verge of closing down. The company was unable to raise funds and was unable to pay to its workers. At this critical point, it was Sir Dorab Tata who came forward to pledge his entire personal fortune of Rs 1 crore to get a loan from Imperial Bank of India (now known as SBI). Tata Steel survived. Since then, the company has survived many business cycles and industry problems and has emerged stronger and better every time. Tata Steel has been the heart of Tata Group since 1907. The book also provides interesting insights into how the economy of India has changed in the last 100 years. There is much information on how the group has strengthened under the leadership of J.R.D and Ratan. There are an interesting sections on the rise of Tata Consultancy Services and Titan. The story of Tata Chemicals is also worth noting. After reading the book, one realizes that the Tata companies also face huge problems just as other companies do. But their focus on long term solutions is what differentiates them others. Finally, there is something in this book that I'll remember for the rest of my life. After getting honored with Bharat Ratna in 1992, J.R.D Tata said, "An American economist has predicted that in the next century India will be an economic superpower. I don't want India to be an economic superpower. I want India to be a happy country." --Punit Lohani Aug 23, 2013

About this edition

• Publisher: Penguin
• Publication date: 2007
• ISBN 10: 0143062247
• ISBN 13: 9780143062240
• Binding: Paperback
• Number of pages: 336