Ratan Tata declines “handsome” retirement package, saying “the company has taken good care of me”. This was his statement during the annual general meeting of Tata Steel, his last as the chairman of the company.
Tata Steel is the same company where Mr. Tata started his career in 1962. Then he went to on expending the Tata empire. The company took upon the world with there 9Ps of process, patience, people, passion, pressure, policy, pride, performance and profit. While acquiring JL, TATA’s most probably have these things in mind one of the brand known for its luxury and other for ruggedness and durability.
Process includes a long drawn discussion and negotiation . Aiming high is not enough its comes down to the lots of nitty gritties and micro details to be worked out.Its a key dimension in the globalization
Pride: Pride is an important ingredient in the Tata acquisition of JLR — pride in doing something challenging, complex, meaningful.
Performance: Performance in terms of employee morale, production and productivity (which can be a real challenge in rigidly structured western economies). The tougher work is yet to come!
Profit: Equity and borrowings. Money flows out. Money has to flow in, back. Again, not overnight. But, over a period of time.
There must be many more Ps many more learnings for the India as a whole
Patience: Working steadfastly to build trust and confidence. It all requires a great deal of patience, not a cowboy approach.
People: Transparency, values ,ethics and integrity is involve here . The side which is to be taken over its very imp to take them in confidence their intentions, their culture, their long-term strategy. This is huge challenge and TATA succeeded in it .
Passion : To dream and to realise dreams, passion is an essential, inner need. Passion touches everyone and everything .
Pressure : To stay calm to absorb the pressure, to keep going. As the saying goes – “nerves of steel”. And, in this, the global negotiation process calls for calm, the ability to bear extraordinary pressure and keep going.
Policy : there has to be a some frame work and JLR is part of TATA global strategy.Without this, corporates can get absorbed in adhocism and misadventures and easily lose their way. Its not all about going shopping for nice things and stocking up the cupboard. That would be an easy way to fail.