Tata Steel Quotes

When Jamsetji Tata tried to set up India’s first modern steel mill in the face of implacable British hostility at the turn of the century (he began petitioning the British for permission in 1883, and raised money from Indian investors; after repeated denials and delays it finally began production in 1912 under his son Dorabji), a senior imperial official sneered that he would personally eat every ounce of steel an Indian was capable of producing. It’s a pity he didn’t live to see the descendants of Jamsetji Tata taking over what remained of British Steel, through Tata’s acquisition of Corus in 2006: it might have given him a bad case of indigestion.

At that point in time, Gokul Rajaram was a legendary éminence grise in the ad-tech world. The so-called godfather of AdSense, Google’s secondary gold mine after AdWords, Gokul was a constant presence on the conference circuit, and an omnipresent adviser or investor in just about every advertising technology company worth talking about. He too had come to Facebook via a small acqui-hire, though really that had been just a career breather between his time at Google and his hiring at Facebook. University at the Indian Institute of Technology (IIT), followed by an American MBA, he was your standard-issue Indian techie, and probably that country’s most valuable export after steel and Tata Motors. “What’s the first thing you would change about Facebook Ads if we hired you?” There was about as much polish and prologue to Gokul as that of a North Korean diplomat. “I’d build a conversion-tracking system. It’s unbelievable you don’t have one yet.” A conversion-tracking system is software that tells you if an advertisement has worked in driving a conversion (or “sale” in marketing-speak), and lets you retweak your marketing campaigns based on performance. An ads system without conversion tracking is like a car without rearview mirrors; nay, it’s like a car without even rear or side windows. All you can see is forward, merrily driving along, not even understanding what’s behind you or what you just ran over. It’s a danger to yourself and others, and it was a sign of just how out-of-touch Facebook Ads management was that this somehow never got prioritized. From Gokul’s smile the conclusion was clearly . . . right answer! And so the conversation went, traversing various potential aspects of the Facebook Ads system, and what the company needed to build. It was a giddy Gokul—I’d soon learn he was almost always giddy—who escorted me out the door. The boys and I had arrived separately, assuming we’d get out at different times, and separately did we go back to the GrokPad. There, we compared notes. MRM and Argyris weren’t exactly rousing in their reviews of the experience. In fact, it was clear that the fascist vibe the company gave off had very much rubbed them the wrong way. They had never really liked Facebook, as either product or company, going back to our visits to their developer events. The daylong hazing had done nothing to charm them.

Muthuraman says CK made Tata Steel think of steel not as a commodity but as a service – a radical approach to how the value of a commodity is enhanced. This led to changes in the way

Jamsetji Tata set four long-term corporate goals. The first was to build an iron and steel plant. The second was to bring hydroelectric power to India. The third, which was truly remarkable for the time, was to create a world-class institute of science in and for the nation. Beyond these, his fourth goal was to give to Bombay and to India a world-class hotel.

A couple of years ago I had the pleasure of listening to Dr. Jamshed Irani, former CEO of Tata Steel, who turned the company around in the late 80s and early 90s by engaging the entire organization in a culture of innovation. One of the ideas that emerged during his tenure was Tata's practice of giving "Dare to Try" awards for innovative ideas that were operationally unsuccessful. Failed ideas teach us what does not work and provide us the opportunity to think critically so that the next idea has a better chance of success.