Ratan Tata sets an example at Jaguar (JLR)
Tata Motors the 314th largest company in the world, acquired UK based Jaguar Land Rover PLC from Ford Motor Company in June 2008 for $ 2.3 Billion (Rs 14,000 Crores).
Soon after the acquisition was completed, Mr. Ratan Tata the head of Tata group called for a meeting in London to be attended by all the key persons of JLR.
JLR is a premium luxury car manufacturer and 45 of the top executives of all the plants, and markets came to London, either in the company's own private jets or chartered aircraft to attend. A rather extravagant expenditure.
Mr. Ratan Tata, on the other hand, took a commercial flight from Mumbai to London. He then took a taxi from Heathrow airport to the office of JLR. People at JLR were astonished. How could such a big man, be so simple and unassuming?
The meetings took place without Mr. Tata mentioning the lavish style of management, and unnecessary wastage of money.
Many people earn money only to squander it, they may be rich only for a short spell. The wealthy individuals and organisations are those that earn and spend wisely, while saving money and they grow richer.
About a month later another similar meeting was held. This time every single CEO and senior executive flew commercial. A huge cultural shift, thus saving the company a significant amount of money. JLR soon began to develop a different culture, a more accountable one and both performance and profits have since soared.
People take their cue and their approach follows that of the leader. It is not enough to simply occupy a chair or position, and demonstrate that we are powerful. The power lies in the chair /position On the other hand people like Mr. Ratan Tata in their quiet dignified manner wield tremendous influence. A statement or even a gesture from such kind of people is sufficient to move mountains and great organisations and even nations.