Lakshmi Mittal, Steel King and Global Leader, Research Paper Example

The world of business is full of individuals who have made empires from rags to riches. Most of these individuals possess specific qualities that cause them to be successful in the different fields that they venture into. These qualities are usually referred to as the modules (elements) of entrepreneurship, the elements that are regarded as vital components to a successful entrepreneur and global leader.

Lakshmi Mittal has an inspirational story. He has been dubbed “Carnegie of Calcutta” named after the American drop out railroad mogul of the 19th-century; Andrew Carnegie. The story of Lakshmi Mittal is of a fellow, who came up from sheer poverty to work his way into the popular Forbes list of world’s wealthiest top ten billionaires. Mittal attained this accomplishment by making ArcelorMittal; the largest steel enterprise in the world, whose value is over £100bn (Bouquet & Ousey, 2009). This Indian-born steel magnate is the richest fellow in Britain, with a projected fortune of £30bn. Lakshmi is similarly well associated to very wealthy and influential people, for example Nicolas Sarkozy, Bernie Ecclestone, Tony Blair and Bill Clinton (Bouquet & Ousey, 2009).

Strategy and vision are the kind of attributes that guide any global leader, setting standards that they believe they should be able to keep to. Lakshmi is not only strategic, but also a great visionary. He took over his family’s business and had the vision of being a major player in the steel industry. He then set strategies such as take overs like the acquisition of Arcelor that he merged with his family’s company to create ArcelorMittal (Gifford, 2013).

Organizational building is the greatest critical skill for entrepreneurial progress and global leadership acknowledgement. This skill means that one can construct an organization successfully by allotting responsibility to others (Gifford, 2013). Entrepreneurs and global leaders alike need to be decent leaders and outstanding administrators to be a successful organization builder. Lakshmi displays this by the way he created ArcelorMittal and appointing individuals who are not only capable but also competent, who understand the vision and mission of the creator of the organization.

References

Bouquet, T., & Ousey, B. (2009). Cold steel : Lakshmi Mittal and the multi-billion-dollar battle for a global empire. London: Abacus.

Gifford, J. (2013). 100 Great Business Leaders : Of the world’s most admired companies. Singapore: Marshall Cavendish.