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Sir John, 83, died in his sleep on Wednesday after a long illness at the Hereford County Hospital.

Though his 1990s BBC series Troubleshooter and bestselling books, which made his name as the turnaround king by advising struggling British businesses, Sir John inspired a whole generation of entrepreneurs long before the birth of Dragon's Den and The Apprentice.

His trademark shoulder-length hair, colossal figure and colourful ties made him an instantly recognisable figure and he became one of the UK's most admired businessmen. 

Under his watch, from 1982 to 1987, loss-making ICI was transformed into a firm with a pre-tax profit of more than £1 billion through a restructuring programme that focused on shaking off all non-core activities at the Dulux paint manufacturer.

He nevertheless endured strenuous relations with most of his fellow directors at ICI and was subsequently forced to disguise their identities in his autobiography.

In 1985 Sir John was voted Britain’s most impressive industrialist by company directors interviewed for MORI's annual "Captains of Industry" survey. In 1988 he received the title of "Industrialist of the Year" for the third year running and in 1992 was awarded the title "Motivator of the Year".

Between 1986 and 1991, Harvey-Jones served as the third Chancellor of the University of Bradford. In 1989 he became Chairman of The Economist. He had also been, amongst other posts, a non-executive Director of Grand Metropolitan plc (now part of Diageo, Chairman of the Wildfowl and Wetlands Trust and member of The Advisory Council of the Prince's Youth Business Trust. In 2002 he became the president of the MS Trust.

A takeover of ICI by the Dutch chemicals giant Akzo Nobel was completed at the start of this year.