Mukesh Ambani Great Business Leader Essay Example

Mukesh Ambani : Great Business Leader Essay Suman Ledalla Great Business Leader Mukesh Dhirubhai Ambani (born on 19 April 1957) is an Indian business magnate and the chairman and managing director of Reliance Industries, the largest private sector enterprise in India, a Fortune 500 company, and one of the largest private sector conglomerates in the world. His personal stake in Reliance Industries is 48%. As of July 2010, he is the richest man in Asia and the fourth richest man in the world with a personal wealth of US$29. 0 billion. On 29 October 2007, a strong rally in the Indian stock market and the appreciation of the Indian rupee boosted the market capitalization of all Reliance group companies, making him for a while the world’s richest man, with net worth climbing to US$63. 2 billion leaving Bill Gates behind at around $56 billion. He is expected to regain the title of the worlds richest person in 2014, according to Forbes Magazine forecasts. Family and early life Mukesh Ambani is the eldest son of Dhirubhai Ambani, the late founder of Reliance Industries. He has a brother, Anil, and two sisters. The Ambani families lived in a two bedroom apartment in Bhuleshwar, Mumbai until the 1970s. Dhirubhai Ambani then purchased a 14-floor apartment block called Sea Wind in Colaba, where Anil his family and Mukesh and his family lived on different floors. Anil Ambani is also a billionaire and owns a competing company, Reliance Anil Dhirubhai Ambani Group. The two brothers have had clashes over business. Personal life He is married to Nita Ambani and has three children, Akash, Anant and Isha. He owns the Indian Premier League team, the Mumbai Indians. They live in a private 27 story building in Mumbai named Antilia. We will write a custom essay sample on Mukesh Ambani : Great Business Leader specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mukesh Ambani : Great Business Leader specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mukesh Ambani : Great Business Leader specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Costing approx. US$500–$700 Million, with the increasing price of land, is estimated to be valued at over US$1 Billion to build. It is claimed to be the most expensive home in history. Career He joined Reliance Industries in 1981. He initiated Reliances backward integration journey from textiles into polyester fibers and further into petrochemicals, petroleum refining and going up-stream into oil and gas exploration and production. Ambani set up one of the largest and most complex information and communications technology initiative in the world in the form of Reliance Infocomm Limited (now Reliance Communications Limited). Ambani directed and led the creation of the world’s largest grassroots petroleum refinery at Jamnagar, India, with a current capacity of 660,000 barrels per day (33 million tons per year) integrated with petrochemicals, power generation, port and related infrastructure. Mukesh Ambani’s Quote: â€Å"The organizational architecture is really that a centipede walks on hundred legs and one or two don’t count. So if I lose one or two legs, the process will go on, the organization will go on, the growth will go on. † His Business secrets: He used some secrets throughout his life-time to become a business tycoon. Some of them are as follow: Secret No. 1: Gather information, whatever it may be. Gather information about Governments be local, state, central or international. Secret No. 2: Find an opportunity. He always endeavors to analyze whatever information are gathered. Secret No. 3: Jump from an orbit to the next. No matter where you are. Just work there. Master that place or situation. Accumulate some energy and jump into another orbit, a higher one. Secret No. 4: Complete projects on time. Thrive to do it before the scheduled time. He and his sons completed all their projects on time, mostly before time. However big the projects were, they completed those timely. No matter how much disturbance or hurdles came in their way. Leadership Characteristics 1: Self-Esteem: Mukesh Ambani has great self-esteem that’s the reason he could reach sky high in his business. Underlying everything is a high sense of ones own self-worth. Without that, individuals will never undertake tough challenges. If one does not have it, its important to develop self-esteem. 2: Need to Achieve: Mukesh is focused on his needs. This need has been associated with entrepreneurs and leaders who constantly seek to perform at their best. 3: Screening For Opportunity: Like all individuals, leaders screen incoming information to separate the useful from the useless. However, Mukesh is also successful entrepreneur and business leader screen incoming information to constantly seek new growth opportunities. He never left any opportunity behind 4: Locus of Control: Mukesh assume that any success they experience is due to their personal efforts and that they have the ability to influence events. Interestingly, internal also assume failure was also their fault. 5: Goal Orientation: He was Goal Oriented and was keen in achieving it. Businesses come and go, but those that last always share a common characteristic with their founder—a relentless drive to accomplish goals. 6: Optimism: Positive thinking was another aspect Mukesh Ambani possessed. Underlying successful entrepreneurial leadership is a boundless font of optimism that never seems to end. When faced with a problem, they view it as a challenge. 7: Courage: He never gave up always carried the zeal to do new things. It requires a great deal of courage to build a company from the ground up. 8: Tolerance to Ambiguity: Mukesh Ambani was never a failure he constantly kept trying to reach success. This term refers to a person’s tolerance to uncertainty and risk. 9: Strong Internal Motivation: The motivation that drives Mukesh’s behavior comes from two sources: internal (intrinsic) and external (extrinsic). Intrinsic factors include constructs like needs, desires, motives, and will power. Extrinsic factors include any type of motivational influence from the environment such as rewards and punishments. Awards and Achievement Reliance Industries chairman Mukesh Ambani has won the Business Leader of the Year at NDTV Profit Business Leadership Awards 2010 in Mumbai. During the occasion, he said that Goods and Services Tax and Direct Tax Code are historical milestones and every country would want to have them * Chosen the businessman of the year 2007 by a public poll in India conducted by NDTV * Conferred the United States-India Business Council (USIBC) leadership award for Global Vision 2007 in Washington. * Ranked 42nd among the Worlds Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by Price water ouse Coopers and published in Financial Times, London, and November 2004. * He is also a member of the International Advisory Board, a globalist think tank council on foreign relations * Ranked 13th in Asias Power 25 list of The Most Powerful. Mukesh Ambani one of the leading Business Tycoon of India has made a great impact on Indian Economy and also on people’s life. Being optimistic, focused, goal oriented, achiever is some of the business lessons for me. His broad thinking and clear vision has made me to look at any kind of business at a broader level. What I really admire is that Mukesh Ambani has not only supported the higher class people but also the lower income category group as well by introducing Reliance cell phone which was feasible for everyone to effort. This concept has made me to look at business in all aspect and cover as many categories as possible. This research has helped me to understand what a leader is and what kind of qualities they possess. I learned from Mukesh Ambani’s life is that to be persistent and determined in the work and always look for the opportunities which I can implement in the business world.