Case Study- Mukesh Ambani PDF

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Case study on Indian Business conglomerate Mukesh Ambani...

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Entrepreneurship Development Case Study – I MUKESH AMBANI

“It is important to remember that there are no overnight successes. You will need to be dedicated, single-minded, and there is no substitute to hard work. -Mukesh Ambani Introduction Mukesh Dhirubhai Ambani is an Indian billionaire, chairman, managing director, world famous business magnate and largest shareholder of Reliance Industries Ltd. (RIL) which was created in July 2006. Reliance Industries Ltd. is in the Fortune Global 500 company and India's most valuable company by market value. Mukesh Ambani is the richest person in Asia with a net worth of US$81.1 billion (as of October 2020). Mukesh Ambani is the 6th richest in the world. He is a very successful and a world renowned entrepreneur who motivates and inspires youngsters all around the world.

Early life story

Mukesh Dhirubhai Ambani was born to Dhirubhai Ambani and Kokilaben Ambani on 19th April, 1957 in the British Crown Colony of Aden (now it is called as Yemen). He has a younger brother Anil Ambani and two sisters namely Dipti Dattaraj Salgaocar and Nina Bhadrashyam Kothari. Though being born in Yemen, Mukesh moved back to India in 1958 because his father Dhirubhai Ambani wanted to start a trading business that mainly focused on spices and textiles. He and his family lived in Mumbai until 1970’s.

Education After moving to Mumbai, Mukesh Ambani attended the Hill Grange High School along with his brother Anil Ambani and Anand Jain, who later become his close associate in his businesses. After schooling, Mukesh reeived a BE degree in Chemical Engineering from Institute of Chemical Technology, Mumbai. Later on, he enrolled for an MBA at Stanford University but dropped out in 1980 to help his father build the Reliance company, which at the time was still a small but fast-growing enterprise. His father believed that real-life skills will teach more than learning in the classroom, so he asked his son to return to India and take command of a yarn manufacturing project.

Career and his entrepreneurial journey In 1981, he started to help his father Dhirubhai Ambani in the yarn manufacturing project and run their family business, Reliance Industries Limited. Mukesh started leading Reliance's backward integration, where companies own their suppliers to generate more revenue and improve efficiency, in 1981 from textiles into polyester fibres and further into petrochemicals, which the yarns were made from.[5] After joining the company, he reported daily to Rasikbhai Meswani, then executive director. The company was being built from scratch with the principle of everybody contributing to the business and not heavily depend on selected individuals. Dhirubhai treated him as a business partner allowing him the freedom to contribute even with little experience. On 6 July 2002, Mukesh Ambani's father died after suffering a second stroke, which elevated tensions between the brothers as Dhirubhai had not left a will for the distribution of the empire in 2004. Their mother intervened to stop the feud, splitting the company into two, Ambani receiving control of Reliance Industries Limited and Indian Petrochemicals Corporation Limited, which was later approved by the Bombay High Court in December 2005.

By this time, Reliance had already expanded well so that it also dealt in refining and petrochemicals. The business also included products and services in retail and telecommunications industries. Reliance Retail Ltd., another subsidiary, is also the largest retailer in India. Reliance's Jio has earned a top-five spot in the country's telecommunication services since its public launch on 5 September 2016.

Entrepreneurial Characteristics of Mukesh Mukesh Ambani used to follow unique leadership process. He is a visionary type human who can forecast the future easily. He analyses the situation and decides properly. He always follows his own approach which makes him a great leader today. He has the ability to predict for how long a company can sustain and its potentiality. He also knows which technique will be viable in future for the betterment of the business. He has a revolutionary mindset and problem solving skills which makes him a great entrepreneur.

Mukesh Ambani – The face of new emerging India Without a question, Mukesh Ambani strikes every people’s mind when we think of the face of new India. Mukesh Ambani is the substance of feasible Indian business throughout the previous four decades, intensely speaks to a solid picture of the Indian business area that is cosmopolitan, progressing and dynamic. Mukesh, the proprietor of the biggest private part, and the Fortune 500 Company in India has effectively set up the way towards the advancement of Modern India. He truly is the face of new emerging India.

Dhirubhai Ambani’s Wise Words ‘’If

you want to become an entrepreneur you will have to figure things out on your own. Only managers are told what is to be done, not entrepreneurs’’ - Dhirubhai Ambani Mukesh Ambani’s father Dhirubhai Ambani told his son that if he want to become an entrepreneur, he will have to figure things out on his own without expecting anyone’s help and support. Further he added that only managers need to be told what is to be done in the organisation, not entrepreneurs. And yes, entrepreneurs must figure out things on their own and decide accordingly.

Conclusion

Mukesh Dhirubhai Ambani, a True Champion, and a Legendary Entrepreneur is THE FACE OF MODERN Indian Industrialists. The Chairman and Managing Director of Reliance Industries running Ambani’s genuine heritage is a “good example for Young Entrepreneurs”. He will consistently remain the top business tutor and the symbol of each Young Entrepreneur in India who tries to copy his abilities and set up a name for him in the serious business world.

Report by -KIRTHIKA R...