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5 Lessons to Learn from Essar Group A Journey of Innovation, Resilience, and Sustainability

The leadership and vision by the Ruia Brothers have resulted in sustainability at Essar. Essar Groupu2019s approach to corporate sustainability is an excellent example of how large corporations can integrate environmental, social, economic, and governance considerations into their operations.

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5 Lessons to Learn from Essar Group A Journey of Innovation, Resilience, and Sustainability

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  1. 5 Lessons to Learn from Essar Group: A Journey of Innovation, Resilience, and Sustainability

  2. Entrepreneurs come from different walks of life and various industries. However, one thing all these entrepreneurs share is a steep learning curve to success, with valuable lessons learned along the way. Ruia Brothers of Essar Group stand out among many entrepreneurs whose inspiring stories are valuable lessons for businesses worldwide. Essar Group, established as a small construction company in 1969, has transformed into a global conglomerate with operations in more than 35 countries. Despite facing several challenges in the past, the group has embraced growth opportunities that are worth appreciating.

  3. 1. Adaptability and Strategic Diversification Essar Group’s story is a real example of how strategic diversification can assist companies in overcoming challenges and instability in the business world. A few decades ago, Essar started its investments in constructions business, later making significant investments in shipping and steel production thereafter. By the late 90s and early 2000s, the group had broadened its operations even further, laying the groundwork for its global expansion. Today, its diversified portfolio spans energy, infrastructure, metals and mining, technology, etc., in national and international markets.

  4. 2. Commitment to Sustainability and Green Technologies Sustainability has become imperative not just for companies but for the entire planet. A decade ago, reducing environmental impact was considered a secondary priority for organisations. But conglomerates like Essar have always acted decisively on environmental issues, and in a more focused manner in the past 2-3 years. Along with being a necessity, sustainable development has become a genuine and enormous business opportunity.

  5. 3. Resilience in the Face of Challenges Resilient organizations don’t just bounce back from misfortune or change but take a step forward. They navigate challenges and transform them into opportunities to capture sustainable, inclusive growth. When challenges emerge, leaders like the Ruia Brothers quickly assess the situation, reorient themselves, double down on what’s working, and walk away from what’s not. In the context of challenges, the Essar Group’s journey has been a roller coaster. In the past, the company faced significant financial setbacks and even dealt with Essar debt-related issues, which it turned into an opportunity.

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