Who isn’t acquainted with India’s richest billionaire, Mukesh Ambani? Probably, everybody. From joining his father, the late Mr. Dhirubhai Ambani, in building the enormous Reliance Industries Limited to now single-handedly heading his business empire as the chairman and managing director, Mukesh Ambani’s success story is one that creates a huge impact on every person, whether an entrepreneur or someone hailing from any other economic background. Today, most of India looks up to him as a source of inspiration in the context of accelerating business growth.
But do we know what made Mukesh Ambani and his business so successful that he made it into the Fortune 500 company in India? In this article, A Brief Overview of the Mukesh Ambani Success Story, we will delve deep into some hot topics from his personal and private life, like who Mukesh Ambani is, what is Mukesh Ambani’s business, and what is Mukesh Ambani’s business strategy. Come join us as we explore further!
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Knowing the Great Man
Born on April 19, 1957, into a Gujarati Hindu family in Aden (present-day Yemen), Mukesh Ambani is the son of the late Mr. Dhirubhai Ambani and Kokilaben Ambani. Soon after his birth, his father decided to come back to India in 1958, when Mr. Ambani decided to try his hands on business in spices and textiles. The textile business was initially named ‘Vimal’, which later got rebranded as ‘Only Vimal.’ The family lived in a simple two-bedroom apartment in Bhuleshwar, Mumbai, where simultaneously their financial conditions started improving. Humble by roots, they used to lead a normal life like any other individual, using public transport as a mode of communication and being an active member of the social community.
Mukesh Ambani completed his schooling at Hill Grange High School at Peddar Road, Mumbai, along with his younger brother Anil Ambani. After completing his secondary education, he did his higher studies at St. Xavier’s College, Mumbai. After that, he received his BE degree in chemical engineering from the Institute of Chemical Technology.
Mukesh Ambani joined his father’s hands in establishing Reliance Industries Limited in 1981. At the time of his arrival, the company had already diversified into refining and petrochemicals. Before this, they dealt with products and services in retail and telecommunications.
What is Mukesh Ambani’s business ?
While petrochemicals and other oil and gas-related operations create the foundation of the business, Reliance operates businesses in other domains, which include clothing, retail, and telecommunications. As per the latest report of March 16, 2023, Reliance recorded a number of 234 subsidiaries and 11 associate companies. Some of their subsidiary companies include Jio Platforms (a technology company), Reliance Retail (Reliance Fresh, Reliance Footprints, etc.), Network 18 (a mass media company), and many other related organizations in similar lines.
The famous Ambani family feud
The entire town is aware of the family feud that took place between Mukesh and his younger brother, Anil Ambani. The empire was doing well when, in 1986, Dhirubhai Ambani suffered a stroke, and upon realizing his health issues, he handed over the company’s daily operations to both of his sons. After his demise in 2002, the company was totally under the control of the brothers. Situations worsened in 2005 when a huge public feud between Anil and Mukesh forced their mother, Kokilaben Ambani, to intervene in between and split the company between the two brothers.
After the formation of Reliance Group in October 2005, Mukesh Ambani got hold of Reliance Industries and IPCL, whereas Anil Ambani got telecom, power, entertainment, and financial business parts of the group. Anil’s side of the business empire includes Reliance Communications, Reliance Infrastructure, Reliance Capital, Reliance Natural Resources, and Reliance Power. The de-mergers of four companies under the RIL flagship happened after the separation of the businesses. These four companies immediately came under the Anil Dhirubhai Ambani Group.
Mukesh Ambani’s Business Strategy
Discussing Mukesh Ambani’s success story would be incomplete without talking about his business strategies. These principles are what make him a big man and entrepreneur for the present generation. The functioning of Reliance depends upon five main pillars, namely:
1. Investments in Technology
Since time immemorial, Mukesh Ambani has emphasized the fact that technology plays a significant role in developing a business. Keeping this vision in mind, he has till date invested a great deal in technologies, particularly in the telecommunications sector, which in turn has yielded outstanding results by making it a dominant player in India’s evolving mobile market.
It is because of his expansion plans that Reliance is one of the world’s top-tier businesses. The company has diversified into different sectors, welcoming new opportunities for growth and revenue generation.
3. Customer-centric approach
Reliance has always devoted itself to the service of its customers. It has designed its product lines keeping in mind the needs of its customers, which supports customer satisfaction. Customer service and support have always been their top priorities.
4. Effective Collaborations
Partnering with other business corporations has helped Reliance enter new markets and build formal relationships with other firms. He has worked harmoniously with other teams as well, taking Reliance towards success.
Possessing strong leadership skills, Mukesh Ambani has been a huge factor in molding the company’s presence in the business world today. In sailing through happy as well as challenging times, Reliance’s steady and prosperous growth is an outcome of his guidance and supervision.
These business strategies have changed the course of action for the business group.
Mukesh Ambani’s success story is a testament to his hard work and dedication to his business. In his works, one can find the true values of business laid down by his father, Dhirubhai Ambani. Having been the ‘Face of Indian Businesses and Industrialists’, Mukesh is constantly supported by his wife, Nita Ambani, who, in every sense, proves to be the backbone of Reliance Industries. The journey of the 62-year-old billionaire, who also got positioned at number 13 in the list of ‘Richest Individuals in the World’, is commendable, exemplifying it as the strongest business empire ever. He continues to inspire many aspiring entrepreneurs and businessmen to mark their niches in the business industry through his ideas, visions, and innovations, while also contributing to the nation’s economic prosperity and representing it on a global platform.
Also Read: Success Story of Dhirubhai Ambani