Dhirubhai
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Dhirubhai Ambani was an Indian business magnate who founded Reliance Industries. He was born in 1932 in Gujarat, India to a school teacher family. Ambani started his career as a clerk in Yemen and learned about commodity trading. He returned to India and started an import-export business. In 1966, he founded Reliance Textiles and launched the brand "Vimal". Reliance Industries had a successful IPO in 1977. Ambani further diversified Reliance into various sectors like petrochemicals and telecom. He faced challenges in introducing the IPO but convinced small investors in Gujarat. Ambani was recognized as a powerful business leader in Asia and received several lifetime
Dhirubhai
- 2. Introduction ā¢ Dhirajlal Hirachand Ambani also known as Dhirubhai, (28 December 1932 ā 6 July 2002) was an Indian business magnate and entrepreneur who founded Reliance Industries, a petrochemicals, communications, power, and textiles conglomerate.
- 3. Birth ļ D.O.B.- 28.12.1932 ļHe born at Chorwad, of Gujarat ļFather - Hirachand Govardhandas Ambani -a school teacher ļMother- Jamanaben ļ Two brothers and two sisters.
- 4. ā¢ Mission: āPursue your goals even in the face of difficulties, and convert adversities into opportunities.ā ā¢ Vision: āThink big, think fast and think ahead.ā Mission And Vision
- 5. ļ Dhirubhai Ambani has voyaged through a journey from rags to riches. ļDhirubhai has always shown all the critical leadership qualities. ļ He would always grab an opportunity and strike on it. As a Leader
- 6. Rags To Riches ā¢ Life In Aden (1949-1958) He joined as a clerk with the A. Besse & Co. Those days Aden was the second busiest trading and oil bunkering port in the world after London handling over 6,300 ships and 1,500 dhows a year. He learnt the ways of commodity trading, high seas purchase and sales, marketing and distribution, currency trading, and money management ā¢ Majin Commercial Corporation Dhirubhai Ambani returned to India and started "Majin" in partnership with Champaklal Damani, his second cousin, who used to be with him in Aden, Yemen. Majin was to import polyester yarn and export spices to Yemen.
- 7. Contd. Their partnership ended soon. Dhirubhai was a known risk taker and he believed in building inventories, anticipating a price rise, and making profits. In 1968, he moved to an upmarket apartment at Altamount Road in South Mumbai. Ambani's net worth was estimated at about Rs.10 lakh by late 1970s. ā¢ Reliance Textiles In the year 1966, the brand "Vimalā was started. In the year 1975, a Technical team from the World Bank visited the Reliance Textiles' Manufacturing unit. This unit has the rare distinction of being certified as "excellent even by developed country standards" during that period.
- 8. Contd. ā¢ Initial public offering Dhirubhai Ambani is awarded with starting the equity cult in India. More than 58,000 investors from various parts of India subscribed to Reliance's IPO in 1977. Reliance Industries was the first private sector company whose Annual General Meetings were held in stadiums. Ambani's net worth was estimated at about Rs.1 billion by early 1980s. ā¢ Diversification It has presence in various sectors like petrochemicals, textiles and is involved in the production of crude oil and gas, to polyester and polymer products. The company further diversified into Telecom, Insurance and Internet Businesses, the Power Sector and so on.
- 9. Challenges of Introducing IPO ā¢ Convincing the senior managers to frontline employees about its benefit ā¢ Attracting investors from outside the organisation to buy the IPO ā¢ Convincing large number of small investors in rural Gujarat to be shareholders of his company ā¢ Creating trust in his company that the investment can create millions of rupees among the minds of investors.
- 10. In Popular Media In 1998, a book "The Polyester Prince" is also an unauthorized biography of Dhirubhai Ambani, outlining all his political and business conquests Guru- film based on Dhirubhai Ambani
- 11. 9 great management lessons from Dhirubhai Ambani 1. Roll up your sleeves and help. 2. Be a safety net for your team. 3. The silent benefactor. 4. Dream big, but dream with your eyes open. 5. Leave the professional alone! 6. Change your orbit, constantly! 7. The arm-around-the-shoulder leader 8. The Dhirubhai theory of Supply creating Demand 9. Money is not a product by itself, it is a by-product, so don't chase it
- 12. Awards and Recognitions ā¢ 1996,1998,2000 ā Power-50 the most powerful man in Asia by Asia week Magazine ā¢ 2000 Man of the Century by Chemtech Foundation and Chemical Engineering World ā¢ Man of 20th Century by Federation of Indian Chamber of Commerce and Industries ā¢ 2001 Lifetime achievement awards by The Economics Times