A video in Liveminttitled ‘Decade of MukeshAmbani,‘had corporate writer AveekDattaspeaking in detail about the business magnate, his business, the ups and downs he has undergone, his father DhirubhaiAmbani, the comparisons and so on.
MukeshAmbani, Chairman, and Managing Director of RIL(Reliance Industries Limited) hasundoubtedly strengthened the petrochemical and the refining business and has capably shouldered the responsibility that his father passed on to him. It was 31 July when he formally took over his father’s business after his demise.
Besides, he has also been breaking fresh ground by embarking upon new segments like retail, telecom, etc. However, these businesses are still in their nascent stage and require some time to tassel out. Irrespective of being constantly bombarded by comparisons with his father, DhirubhaiAmbani, he has stood up to the expectations and met the standards that were set.
The last ten years have been action filled for the conglomerate with it being on the top of the news for its expansion plans with respect to the retail segment, the 4G launch, its tie- ups with leading global players, winning the bid to install CCTV cameras, philanthropy activities and many more.
RIL has been at present surmounting challenges be it on the bourse or the contention with the Government with respect to granting approvals. Irrespective of the many challenges including the global uncertainty, the company witnessed a net profit of 3% during 2007-08 and 2011-12. Undoubtedly, MukeshAmbani has offered a new direction and purpose to the business.
The company has laid high emphasis on R&D that will further act as an impetus to its growth. Adhering to the core values that run in the company, it focuses on long term values that makes the company’s future seem promising.While MukeshAmbani has had the advantage of possessing the cash based businesses after the split of the family business, the intricacy of the business he deals with are equally high.
The company witnessed a sevenfold growth in between 2002-03 and 2011-12 with capitalization mounting by six times accounting to Rs. 2.44 trillion.The building of Jamnagar refinery, which is one of the largest refining complexes in the world, will stand as a landmark achievement in this voyage of MukeshAmbani.
He has also had the nerve to spread out to new segments and delve into consumer focus business rather than the core energy business for which the company is known. This will enable the company to have a head start as compared to its competitors in the future.
However, the company can up its ante by focusing more on streamlining the activities without focusing on opening up new formats at present. Besides, mending relationship with Government to an extent can do the trick.
When AveekDatta was asked to choose the better business leader between the legendary DhirubhaiAmbani and his son, MukeshAmbani, he considered DhirubhaiAmbani to be a dynamic person who had a challenging start with no backup unlike his son who is a renowned businessperson with whom the pioneers want to work with. However, there is a flip side to the same which MukeshAmbani has to undergo. He has to constantly meet up to the expectations which is very demanding. He also added that DhirubhaiAmbani was quite a vivacious person who could communicate with anybody right from the laborer to the global tycoon and extract information from the other. On the other hand, MukeshAmbani is a reserved person who does not speak much. However, employees and others working with him consider him a highly motivating person.
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