1. Laxmi Mittal, Ratan Tata among Forbes 100 greatest living business minds in the world

Laxmi Mittal, Ratan Tata among Forbes 100 greatest living business minds in the world

In order to celebrate its 100 years, Forbes recently released the list of 100 greatest living business minds in the world. The list included 100 entrepreneurs, visionaries and prophets of capitalism who have shaped the past century.

By: | New Delhi | Published: November 18, 2017 6:49 PM
Laxmi Mittal and Ratan Tata among Forbes 100 greatest living business minds Laxmi Mittal and Ratan Tata. (Source: PTI/IE)

In order to celebrate its 100 years, Forbes recently released the list of 100 greatest living business minds in the world. The list included 100 entrepreneurs, visionaries and prophets of capitalism who have shaped the past century. The list is an A-to-Z encyclopedia of ideas from these great men. As per the details given by the magazine, it focused on people who had either created something with a lasting impact on the world or innovated in a way that transcends their given field. Making India proud once again, Laxmi Mittal and Ratan Tata appeared on this list.

Laxmi Mittal gave his views on flexibility and talked about the importance of adapting. He told Forbes that steel is one of the most used materials in the world today, but that doesn’t mean in the future there won’t be a different way of making steel or that other, new materials won’t be developed that challenge steel’s position. The pace of technological change is significantly faster than historically – every industry today has to fight complacency, prepare to see the disruption coming and then be flexible enough to adapt swiftly.

Ratan Tata, on the other hand, talked about relevance. He urged people to be passionate in their relevant areas and be a voice that is respected and abreast of developments. “I have also tried not to express a view on matters which I am not fully involved with or qualified to comment upon,” he added.

The list included some big names like Bill Gates, Rupert Murdoch and Jeff Bezos. It included a wide range of individuals as well: Twenty-three people on the list are nonwhite. Twenty-five are not American, including 11 from Asia, the world’s most dynamic business region. Ten are women, and 11 are under 50.

Talking about the list, Amazon boss Jeff Bezos said, “We’re in the midst of a gigantic transition, where customers have incredible power as a result of transparency and word of mouth. It used to be that if you made a customer happy, they would tell five friends. Now with the megaphone of the internet, whether online customer reviews or social media, they can tell 5,000 friends. In the old days, an inferior product could prevail in the marketplace with superior marketing.”

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