Mukesh Ambani on vision for Reliance: ‘If you start a business to be a billionaire, you are an idiot, but…'

Mint

6 hours ago

Reliance Industries Chairman Mukesh Ambani has a 'north star' vision for his company — being impactful. Quoting his father, RIL founder Dhirubhai Ambani, the richest person in Asia noted that businesses succeed when they fulfil a need for the people.
Speaking to McKinsey about Reliance, his guiding philosophy, vision for the future, and carrying forward his father's legacy, Mukesh Ambani feels clarity in goal and right talent can drive innovation and create impact.
When asked about what is the guiding light or 'north star' for Reliance's oil-to-telecom conglomerate, Mukesh Ambani was quick to credit his father for setting the tone.
'I am very loyal to my father's vision… Our North Star always has been that our vision and purpose of doing business have to be impact-led… My father used to say that if you want to start a business to be a billionaire, you are an idiot; you will never get there. If you want to start a business to impact a billion people, then you have a good chance of success, and, as a byproduct, you can make a reasonable amount of money,' he shared.
Ambani noted that at Reliance, the process is to 'figure out where to get' and then acquire the right talent for the goal. 'Our goal was to contribute our utmost to making India a prosperous nation and enabling all Indians to live a better life,' he added.
When asked about his approach to risk management, Mukesh Ambani said that they consider the worst-case scenario and determine the possible outcomes, before proceeding. He cited Reliance Jio as an example here.
'The principle is whether you can survive in the worst-comes-to-the-worst situation. You start off by thinking in terms of what the worst is that could happen, and then you have to survive that. About 30 or 40 years ago, I said that I should personally have is to look any of my employees in the eye,' he told McKinsey.
Mukesh Ambani further shared his aim for longevity of Reliance and leaving behind a lecagy though the company. 'We are believers that, at the end of the day, you come without anything into this world, and you leave without taking anything with you. What you leave behind is an institution,' he noted.
He further recalled his father's words: 'Reliance is a process. It's an institution that should last. You have to make sure that Reliance lasts beyond you and me.'
'That's my commitment to him—that Reliance will last beyond us. In 2027, Reliance will celebrate its golden jubilee. But I want Reliance to continue to serve India and humanity even after completing 100 years. And I am confident it will,' he added.
On how he achieves the 'right people' for his company and vision, Mukesh Ambani said that the focus is on three Cs — character, competence and culture.
'In terms of what we want… Character is even more important than competence because competence can be built. We've also always believed in motivation because if you can win a person's heart, their mind will work for you,' he said.
On culture, he added that it takes effort to bring in new people as 'not everyone comes with the same orientation and same thoughts'.
'It takes a conscious effort to bring new people into the common institutional culture of Reliance—our vision, our values, our purpose and our organisational philosophy. Part of our culture is that once you are part of us, we take care of everything. Fundamentally, we take ordinary people and allow them, encourage them and empower them to do extraordinary tasks,' he shared.
When asked about the key success factors in 'unlocking extraordinary potential from ordinary talent', Mukesh Ambani noted that clarity in the goal and mission is most important.
'I am a big believer that, individually, all of us have great potential, but we are limited by our habits… I believe that organisations are also limited by their systems and structures,' he said.
On working beyond the limitations, Ambani noted that sometimes company structures prevent people from becoming high performers, adding: 'If we align the systems and structures to our outcomes and goals—which is what we do at Reliance—we create flexibility. Flexibility is the secret sauce that ensures organizational capability doesn't get limited.'