5 company that subscribed to the scheme would derive the benefits of the centrally promoted Tata brand.

RT recommended that the subscribing Tata companies expected to contribute , and the contribution would depend upon each companys association with the brand(Lala,2004). Tata Sons considered to use the contributed amount to build a national and later international group brand image by accentuating the core values and ethics, mostly through advertising. The cost estimated by Tata Sons for significant domestic brand promotion was Rs 300 million per annum, much more than the commission collected. A resolution has been passed the board of directors of various Tata companies in 1995 in accordance with this arrangement. However the scheme engender debate in the media but The Tata Brand transpired into a seal of trust . The resurgence of Tata Administrative Services (TAS) TAS, a department of Tata Services Ltd is recognised as one of the most distinct management recruitment consultancy since 1950. TAS had been successful in recruiting and retaining the endowed individuals who had been employed for management career acceleration in group affiliates ,but the reputation got weakened in due course of time. RT take a turn for the betterment of TAS and projected it as a premium career among budding business leaders by making extensive use of

media(Kakani, Joshi, 2008). He gave a face lift to TAS by expanding opportunities, enhancing work culture and remuneration package .TAS has been acclaimed by the individuals, corporate and the group. Zahra (1991, 1995) explains that corporate entrepreneurship also incorporates diverse approaches and actions that heighten a companys ability to take risks, take hold of opportunities and innovate. Tata Sons went Public Tata acquired marginal shares in group companies ranging from 0.01% to 15% through its primary holding company Tata Sons. Tata Sons decided to raise a total of Rs. 7 billion in 1995-96, to increase 1% in stake in each of the major Tata companies. In order to increase the funds, they encourage subscriptions to a Rs. 3 billion rights issue on September 1995(Khanna, Palepu,1998). The shares were obtainable by Tata group affiliates (at a premium) The surplus money generated internally and through various approach. Legally TATA Group was entitled to purchase TATA Sons share ,but exchange of shares between two companies under one group was not legal. The deal was not encouraged by the financial analysts as a potential investments but RT asserted that the investment will be worth and appreciated once the TATA Sons sharego public, and he proved accurate in due 6

course of time. This decision emphasised Mr Tata as a strong innovator , because according to (Bessant, 2003; Kirby, 2003; Zahra, 1996). Leibenstein (1968, p. 73), corporate entrepreneurship and innovation is The activities necessary to create or carry on an enterprise where not all the markets are well established or clearly defined and/or in which the relevant parts of the production function are not completely known. Bringing revolution in Automobile Industry RT was the first Indian entrepreneur who pioneered and revolutionized the Indian Automobile industry. The critic was not in favour of TATA Indica when it was launched on Indian roads in 1998 due to its start up technical problems .The credit goes to RT that due to his thrive for excellence the car has been accepted unquestionably by everybody in a very short period. This was followed by the unbeatably champion TATA Indigo which is maintaining its supremacy till date . Indigo XL was next luxurious version of this car brought in by TATA Group. Under the leadership of RT TATA made it to Korea and acquired Daewoo motors heavy vehicles division. While acquiring the Jaguar or Land Rover he declared that hes not planning to overhaul senior management, close factories in Britain, or cut workers(The Guardian). He doesnt seem all that concerned for immediate profits just as he doesnt

anticipate immediate returns from the tiny Nano car he hopes to launch by years end. Instead, he is expected to use the brands and their U.K. plants, executives and labour to help build Tata Motors, which had $7.2 billion sales in fiscal 2007, into a global car company. Like the 24,000 people who worked for Corus, acquired last year by Tata Steel for 6.7bn, Britain has become an "in sourcing" hub for Ratan Tata a base for foreign operations of an Indian multinational(The Guardian. The Times, Bloomberg). One of his most historical entrepreneurial move is to launch worlds cheapest car NANO on Indian road shortly which he has branded as a Peoples Car. His strategic reasoning behind the launch is to take hold of a large market at the bottom of the pyramid, in India. The other important reasons behind launching NANO is highly praised and talked about throughout the world , which is his genuine concern about the Society and his social responsibility. He wants to ensure the safety of million Indian families who are presently riding two wheeler in a group of four or more at a time which is extremely unsafe. He wants to provide them an alternate vehicle which is safe and affordable and that inspired him to launch NANO. He has launched NANO keeping the Indian culture

in mind. The product are also extremely important for the organisations to measure their success or failure and (Bessant, 2003; Tidd et al., 2001; von Stamm, 2003) and innovation is much extensive than the process (Amabile,1996; Couger, 1995; Rhodes, 1961). These statements describes the perfect innovator Mr Ratan Tata and his historical move to launch NANO.

7 Conclusion Ratan Tata is well known and highly praised for his extraordinary vision, risk-taking ability and high ethical standards. Many of the Global leaders highly praised Ratan Tata as one of the most successful and adorable entrepreneur and innovator .. A range of definitions tried to explain innovation, which resulted to a greater ambiguity (Garcia and Calantone, 2002). A variety of theory and models have been created in the literature suggesting that innovation is made up of diverse phases: creation of ideas, research design and development, prototype production, manufacturing, marketing and sales (Dooley and OSullivan, 2001; Knox, 2002; Poolton and Ismail, 2000; Rothwell, 1994) which is clearly reflected in Ratan Tatas decision making and implementation. USC President Steven B. Sample said ,

Ratan Tata is highly esteemed, certainly in India, but in the rest of the world as well for his extraordinary talents as a business leader and his dedication to humanitarianism, said. Mukesh Ambani, Chairman and Managing Director of Reliance Industries praised : He [Ratan Tata] comes across as an individual with clarity and conviction, a business leader with vision. Ratan Tata has steered the Tata ship in turbulent times. ...above all, I have an immense admiration for Ratan Tata, the man, for his unassuming and warm nature, an outstanding business leader imbued with social concerns and committed to uphold ethics and values." Henry Schacht, former chairman of Cummins Engine, USA , complimented "[Ratan] Tata understood what needed to be done and how it needed to be done." A philanthropist all his life, he created a trust fund for the advancement of learning and for the relief of human suffering and other works of public utility. Ratan Tata is a visionary entrepreneur and leader who has excelled in every component of innovation to pass benefits to mankind, in addition to business and industry .