“If you don't build your dream, someone else will hire you to help them build theirs” – quoted by ‘The Man of 20th Century’, honored with “Dean’s Medal” by the Wharton School, University of Pennsylvania, and the most Prideful Indian Mr. DhirubhaiAmbani. He came as wind which slowly took the form of a storm that crushed all the stabilized firms of that time and secured a safe position for his company, ‘Reliance Industries’- which started with just Rs.15000 but at present givesAmbani Family a net worth of US$ 8.3 billion. This journey from 33 m2 to 30,000,000 m2wasn’t easy but the risk-taker DhirubhaiAmbani left no stones unturned for building the biggest empire ever. The Indian Business Tycoon also appeared in The Sunday Times top 50 businessmen in Asia. This man showed how dreams could be achieved with determination and hard work. His will power and positive attitude made the fortune touch his feet and success his companion. “Guru”, a film based on his life was declared a blockbuster in United States. Such great visionary created new dimensions for our Indian Businessmen.
- Full Name- Dhirajlal Hirachand Ambani
- D.O.B.- 28.12.1932
- Born at- Chorwad, of Gujurat (now Rajkot)
- Father - HirachandGovardhandasAmbani (-a school teacher)
- Mother- Jamanaben
- Occupation-Founder of Reliance Industries
- Net worth -US$6 billion (2002) adjusted for inflation US$8.3 billion (2018)
- Education Of Dhirubhai Ambani
- Knowlege is power and this power is aquired by education
Today we all remember the late DhirubhaiAmbani who was a well educated and a learned entrepreneur who had finished his schooling from a the village school and then after many years of struggle was known among the greatest entrepreneur.
It all started in a small school in the village ofChowda where he started his primary education and further finished his primary education and for his further studies he had gone to the Junagarh district. Being one of the best and the most favourite student among the teachers he was appointed as the secretary of the student union or the student council.
With all these types of success he made them his path for the success of his life abd then un the year 1977 he had the foundation stone for Reliance Industries laid.
Dhirubhai Ambani’s early life
Dihrubhai Ambani was born in a Modhbaniya family on 28th December 1932.His father's name was Hirachand Govardhandas Ambani and his mom's name was Jamanaben He was conceived in the town of Chorwad in the area of Junagarh (Now Rajkot). His dad was a teacher while his mom was a homemaker. DhirubhaiAmbani's relatives were living in a poor condition. His dad's wage was less when contrasted with the costs that his dad needed to endure. After his grade school finish, he moved to the city of Junagarh to finish his secondary school.While at school at Junagarh, he was chosen as the General Secretary of the Junagarh State Union.
In 1949, another Socialist gathering rose up out of the Congress of which he got himself a piece of. For the up and coming metropolitan races in Junagarh, he began crusading for his most loved applicants, which in the long run brought about their triumph. In spite of the fact that he was offered a place in the Party, he declined the offer to stroll on street of his actual calling.
He focused on scholastics and gave his registration exams. Be that as it may, because of the evil soundness of his dad and poor living state of the family, he needed to abandon his instruction and take up an occupation offered in Aden.
At Aden, he took up a vocation as an assistant at A. Besse and Co, the biggest cross-country exchanging firm east of Suez. The organization managed exchanging a wide range of products to European, American, African and Asian organizations.
Dhirubhai Ambani was interested to take in the little-known techniques. Before long he began working for a Gujarati exchanging organization where he took in the essentials of business ventures workings.
In the wake of leaving the Gujarati exchanging firm in Aden, he began functioning as a petroleum draw specialist in the harbors of Aden. There he beginning hypothesizing exchange of products and ventures. In the interim, in 1958 Yemeni Independence development had begun, which annihilated the workforce of Indians living in Aden and different urban areas of Yemen. Since he couldn't make substantial ventures, he settled as a flavor broker under the name Reliance Commercial Corporations. He before long began exchanging flavors, sugar, jaggery, betel nuts and such to Gulf Emirates. He concentrated on low benefits, high volumes and rich quality.
Not the one to be placated effectively, he before long moved concentration to yarn exchanging, which however had large amounts of dangers included, guaranteed more extravagant profits also. Beginning on a little scale, he before long made huge arrangements in yarn to the point of being chosen an executive of the Bombay Yarn Merchants Association.
His foresightedness and capacity to judge helped him break two most heavy arrangements in the yarn advertise that earned him the flush of capital required for the future Reliance Textiles. Playing on his concept of building up an assembling unit, he before long understood the same by setting up a material factory in Naroda, Ahmedabad in 1966.
Dhirubhai Ambani story is surely the rags to riches story. He started his career as a clerk at A. Besse&Co., which in the 1950s was the largest transcontinental trading firm east of Suez. During his journey in Yemen, he learned a lot of things including accounting work, but the act of melting the Yemini currency (RIALS, which was pure silver coins) and selling it to the bullion traders in London will still be remembered by the Yemeni government as how a young boy of age 20 had so much courage and will to actually do that. For this act of Dhirubhai, he was deported back to India.
Ambani returned from Yemen to India and started "Majin" in partnership with ChampaklalDamani, his second cousin, who lived with him in Turkey. Majin was to import polyester yarn and export spices to Yemen.
In 1965, DhirubhaiAmbani and ChampaklalDamani dissolved their partnership because of difference in their temperaments on how to run business. After their partnership ended, Dhirubhai started on his own.
Due to lack of funds for investments, he started as a spice trader under the name of Reliance commercial corporations. He soon started trading spices, sugar, jaggery, betel nuts, etc. to gulf emirates. His main focus was ‘low profits, high volumes and rich quality.’
He soon shifted his focus to yarn trading, which though had high level of risk involved, but promised richer returns as well. Playing on his idea of establishing a textile mill, he soon realised the same by setting up a textile mill in Naroda, Ahmedabad in 1966. His main aim was to produce the finest quality of nylon. By January 1967, he saw his vision to be realised as the Naroda factory began producing the finest quality of Nylon, but the new company had no buyers as there were already well-established mills. But not the one to accept failure, DhirubhaiAmbani himself stepped up to sell his stocks directly to retailers, this daring attitude and gutsy behaviour of Mr. Ambani impressed all and soon the market for ‘VIMAL’(the name of his fabric) grew and started expanding. In no time,it became the finest, best-selling fashion fabric of its time. Increased demand of his fabric led to the higher earnings of his company and with the higher profits, DhirubhaiAmbani planned to expand his mill by adding new machineries and better facilities for workers. By 1972, Reliance became huge and thriving, a stark contrast to its starting days. 3 years later, the company received a nod of excellence from the world bank.
Over the period of time, Reliance industries has become one of the largest conglomerates of India dealing in sectors such as:Telecommunications, Information technology, Energy, Power, Retail, Textiles, Infrastructure services, Capital markets, and Logistics. DhirubhaiAmbani was the founder of Reliance Industries, India’s largest private sector petrochemical and textile giants. Today Reliance Industries is world’s largest manufacturer of polyester and it processes 2% of world’s transportation fuel. It was through his futuristic vision and strong business acumen that he was able to bring Reliance Industries to this level. For his excellent business acumen and never-say-die spirit he was conferred with numerous honours such as: Dean’s Medal, Lifetime Achievement Award for Corporate Excellence, Man of the Century award.
He was named ‘Man of 20th Century’ by the Federation of Indian Chambers of Commerce and Industry (FICCI), He was also conferred with the ABLF Global Asian Award at the Asian Business Leadership Forum Awards. On 6th July,2002, India lost one of its greatest entrepreneurs of the era. The business titan passed away after being in coma for more than a week. At the time he died, his estimated net worth was US $6 BILLION DOLLARS.
9 great management lessons by Dhirubhai Ambani
Being business students we have a lot to learn from the business tycoon of India Dhirubhai Ambani. These are 9 great lessons rather his success strategies that he followed personally to be the Business Tycoon of India. As we too have a dream to be the business tycoons, therefore these following 9 lessons can be the stepping stones for us. His lessons are entitled as DHIRUBHAISM.
Dhirubhaism no.1: roll up your sleeves and help others too
Dhirubhai believed that since an entrepreneur has operate or work in a dynamic environment, therefore almost everytime he doesn’t have predefined solutions for problems. Dhirubhai always believed in sense to do it yourself. This means that an entrepreneur or business man has to work down himself to find the solutions or ways for success and as an entrepreneur is a leader too so, he alone cannot get through the problems rather he has to get his team too through the situation and be the pillar of success for others.
For Example: He didn’t wait for infrastructure to be created to support his operations. He went out and built it himself, be it a power plant for his petrochemical enterprise or a canal to bring water from large distances for his cooling plant.
Dhirubhaism no.2: be a safety net for your team
This means that an entrepreneur should always act like a safety net for his team and employees. He should assure his team that, he is there for them, standing behind no matter what the situation or problem is. This assurance boosts the confidence of the employees which helps a firm to increase its efficiency and productivity. This also helps the employees to go for more challenging problems and combat it with confidence.
Dhirubhai’s Application: “He used to gently ask his employees if, they needed any help in combating the problems they faced and used to assure them that he right there to help them whenever they need him.”
Dhirubhaism no.3: the silent benefactor
This basically meant that when you help someone you shouldn’t advertise or mention it. Its like when you help someone with one hand the other hand should not come to know about it. As it might happen that there will be a time you might need help but you and someone might help you silently without affecting your reputation or goodwill.
Dhirubhai Ambani used to say that "Expect the unexpected".
Dhirubhai’s Application:When he helped someone, he never ever breathed a word about it to anyone else.
Dhirubhaism no.4: dream big, but dream with your eyes open
A person should have great desires because when a person has a great or big dream then only he can channelize his efforts and use his skills in the optimum way. For example there is a person whose desire is get a job of Rs 25000 per month, for this he will start searching job which pays him approximately Rs25000 and once he gets the job he will be happy that, yes! I accomplished my goal but on the otherhand there is a person who wants to become the CEO of Microsoft so as his goal his big therefore he will strive for it in that way and it might happen that he becomes the CEO otherwise his hardwork will at least get him a good position. Thefore, you should have big dreams and great desires. This one side of the lesson, the other side what Dhirubhai told is that,at the same time your dream should be realistic. You should analyze the opportunities and be determined to make your dream come true.
"It's difficult but not impossible!" Whenever a task seemed too big to be accomplished, he would reply: " No is no answer!" Not only did he dream big, he taught all of us to do so too.
Dhirubhaism no.5: leave the professionals alone
Every organization hires professionals for effective and efficient working. So, Dhirubhai believed the professionals should be given complete freedom so that they can produce their best. This means that professionals should be given space where they can create and innovate great ideas which will help the company to prosper.
Dhiribhaism no.6 : change your orbit constantly
This means that a business man should always be constantly in the process of planning, this will not only help him to avoid threats but will also help to have an edge over his competitors. For example a business man who owns a smart phone company launches a phone with unique feature, for some time he gains an edge over others but after some time other will copy it, therefore he should not sit after a success rather he should plan, research and develop a new feature so that by the time his competitors copies the previous feature, he has a new feature to have a complete edge over his competitors.
Dhirubhaism no.7 : the arm around the shoulder leader
This was Dhirubhai very own signature style. It means that a true leader or entrepreneur should not only work at top level and order rather he should also know how to work at the grass root level & work along with employees only then he is a leader otherwise he is a dictator.
Dhirubhaism no.8 : the dhirubhai theory of supply,creating demand
Dhirubhai was neither a MBA nor an economist but yet he took over market theory to stood on his head to succeed. As when everyone in India would build big capacities only after a careful study on market at that time Dhirubhai went full steam ahead and create giants of manufacturing plants with unbelievable capacities. This means that you have to take huge risk for huge success and make effort to manipulate thing in your favor.
Dhirubhaism no.9 : money is not a product by itself, it’s a by-product, so don’t chase it
This means that you being an entrepreneur you don’t have to run after profits rather you have to work for success because once you successfully achieve your goals then money is just a by-product of it. As Dhirubhai Ambani neither breathe a word about profit nor about becoming the richest man.
Dhirubhai’s oulook for success
Success in attaining that goal will eventually ring in the cash. For instance, if you work towards creating a name for yourself and earning a good reputation, then money is a logical outcome. People will pay for your product or service if it is good Sounds too simplistic for belief? Well, look around you and you will know exactly how true it is.
In June 1998 DhirubhaiAmbani received Dean’s Medal award from University of Pennysiania for his leadership qualities. He was first Indian to receive this. In 1996,1998 & 2000 he was featured trice among Power-50, most powerful people in Asia by Asia Mazgine. He was also awarded Man of 20th Century by The Federation of Indian Chamber of Commerce & Industry. Again in November 2000 he was conferred Man of Century for his development in Chemical Industry.
A poll conducted by The Times of India in 2000 voted him The Greatest Creator of Wealth in the Century. In August 2001 he received Lifetime achievement award for his corporate excellence by Economic Times Awards. He was posthumously awarded ABLF Global Asian Award at the Asian Business Leadership Forum Awards in October 2011. His greatest achievement was that he was posthumously awarded PADMA VIBHUSHAN, which is countries second highest civilian award.
As DhirubhaiAmbani was man of his dream, he achieved ultimate success in his life. His net worth was $6 billion in 2002 i.e $8.3 billion in 2018. After his death his business was handled by his sons MukeshAmbani& Anil Ambani but later they got split. Currently MukeshAmbani is approx. worth $44 billion and Anil Ambani is worth approx. $2 billion. DhirubhaiAmbani was one of the greatest entrepreneurs of his time not only in India but in Asia.