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On 25 June, McKinse and Talked about Jio and her father in the interview. (File photo)
The country’s richest businessman Mukesh Ambani has said that launching Reliance Jio was the biggest risk of my life. Ambani said this in an interview given to McKinse and Company on 25 June.
Ambani said that we believe that a person comes empty -handed and goes empty hand, leaves only an institution. My father told me that Reliance is a process.
This is an institution that should remain. You have to make sure that Reliance goes after you and me. Here read 10 big things of Ambani at 10 points…
1. The biggest risk of life in Jio
Ambani said that I had told my board that launching Jio was the biggest risk ever. At that time we were investing our own money, and I was the biggest shareholder. Some analysts believed that India was not ready for the most advanced digital technology, so Jio could have been in bad shape. After the launch, we had the risk of not getting much returns.
On 1 September 2016, Mukesh Ambani announced the launch of Jio at the AGM of Reliance Industries.
2. Damayabi was also approved
I told the board, we will not get much return in the worst position. This is fine because this is our own money. But still, this will be the best philanthropy in India for Reliance, as we will make India digital and change it completely.
3. Large level work is necessary for us
We have always taken big risks because scale (large level of work) is very important for us. With the introduction of Jio, internet and data in India became cheaper, which gave millions of people digital access.
4. Father said Reliance stays after us
Ambani said that we believe that at the end of the day, you come to this world without taking anything and leave without taking anything. What you leave behind is an institution. My father told me, Reliance is a process. This is an institution that should remain. You have to make sure that Reliance goes after you and me.
Mukesh and Anil Ambani with father Dhiru Bhai Ambani.
5. Reliance has to run for 100 years
I have promised my father that Reliance will always remain. In 2027, Reliance will celebrate its Golden Jubilee. But I want Reliance to serve India and humanity even after completion of 100 years. I am confident that this will happen.
6. Trust on future business
Reliance’s mindset is to believe in future business. If you look at the 1960s and 70s or Reliance of 2000 and 2020, it is now a completely separate organization. This is because the world changes every 5-10 years.
7. Business Business School’s learning broke
We challenged every learning of business school, such as integration should not be done in a value chain. We broke all this. As we pursue future technology opportunities, some opportunities also get bigger than our current opportunities. We cannot leave them.
8. My principle of Republic Management
My principle in risk management is to think about the worst situation first, then prepare to bear it. You first think what the worst can be, and then you have to bear it. This has been a principle of mine.
9. It is necessary
About 30-40 years ago I said that one of my personal principles should be that I can see in the eyes of any of my employees. In Reliance, we tell our leaders that it is necessary to see in the eyes because it shows you your honesty.
10. Culture of Siddhanta Reliance
I believe that we can tell our top 100 leaders our principles. We can say, ‘These are our principles. We will do what is right. Whatever we do, we should see each other and say that we are not embarrassed. ‘ This is the institutional culture of Reliance.
