This is Mukesh Ambani's vision for Reliance Industries
What's the story
Mukesh Ambani, Chairman of Reliance Industries, has opened up about his plan for the company in an interview with McKinsey. He reiterated his commitment to his father Dhirubhai Ambani's vision, stressing that the purpose of doing business should be impact-led. Ambani quoted Dhirubhai as saying, "If you want to start a business to be a billionaire, you are an idiot; you will never get there." Instead, he stressed on starting a business with the aim of impacting a billion people.
Foresight
Legacy and risk management
When asked about risk management, Ambani said he always considers the worst-case scenario before proceeding. He cited Reliance Jio as an example of this principle. Further, he shared his long-term vision for Reliance and his desire to leave a legacy through the company, saying "What you leave behind is an institution." He also recalled his father's words about ensuring Reliance lasts beyond them.
Strategy
Recruiting the right people
Ambani shared his strategy for recruiting the right people for his company. He said he looks for three Cs: character, competence, and culture. He stressed that the character is even more important than competence because while competence can be built, motivation is key to winning a person's heart and mind.
Potential maximization
Unlocking extraordinary potential from ordinary talent
Ambani also spoke about unlocking extraordinary potential from ordinary talent. He said clarity in goals and mission is key to this. He believes that individuals and organizations are limited by their habits or systems/structures. To overcome these limitations, he advocates aligning them as per need.