Azim Premji is Chairman of Wipro Technologies, one of the largest software companies in India. He is an icon among Indian businessmen and his success story is a source of inspiration to a number of budding entrepreneurs.
Born on July 24, 1945, Azim Hashim Premji was studying Electrical Engineering from Stanford University, USA when due to the sudden demise of his father, he was called upon to handle the family business. Premji’s father was s small vendor who made edible oil out of dry coconuts and catered to his immediate neighborhood. His slow growth resulted in the establishment of a company called Western India Vegetable Products (WIPRO) and its various food products were sold within the country until his demise.Azim Premji took over the reins of family business in 1966 at the age of 21.
At the first annual general meeting of the company attended by Azeem Premji, a shareholder doubted Premji's ability to handle business at such a young age and publicly advised him to sell his shareholding and give it to a more mature management. This spurred Azim Premji and made him all the more determined to make Wipro a success story. And the rest is history.
When Azim Premji occupied the hot seat, Wipro dealt in hydrogenated cooking fats and later diversified to bakery fats, ethnic ingredient based toiletries, hair care soaps, baby toiletries, lighting products and hydraulic cylinders. Thereafter Premji made a focused shift from soaps to software.
Under Azim Premji's leadership Wipro has metamorphosed from a Rs.70 million company in hydrogenated cooking fats to a pioneer in providing integrated business, technology and process solutions on a global delivery platform. Today, Wipro Technologies is the largest independent R&D service provider in the world. His disciplined way of life is one of the reasons for his meteoric rise to fame. He seldom loses his temper. Once when he returned from a foreign visit, his driver failed to turn up at the airport to receive him. Any other person in his shoes would have become enraged at this incident and probably would have suspended the driver at once. But Premji is made of sterner stuff. He coolly hired a cab and reach office. He did not discuss this matter with anyone either. Much later, when a friend referred to this incident, Premji replied that erring workers should not be punished instantly. On the contrary they should be allowed to go wrong and then we must give them a fair chance to realize their folly and reform. This is the best approach. But, should they repeat the mistake again, we should not hesitate to discipline them, he added.This is but one sterling example of his unique approach to his human resource development on a day to day basis. That is precisely the foundation of his success.
He leads a simple life in Bangalore. Despite being one of the richest men in the world, Premji still drives a Ford Escort and travels economy class during foreign jaunts.
Azim Premji has several achievements to his credit. In 2000, Asiaweek magazine, voted Premji among the 20 most powerful men in the world. Azim Premji was among the 50 richest people in the world from 2001 to 2003 listed by Forbes. In April 2004, Times Magazine, rated him among the 100 most influential people in the world by Time magazine. He is also the richest Indian for the past several years. In 2005,Government of India honored Azim Premji with Padma Bhushan.
His advice to youngsters: In his own words:
My own successes and setbacks along the way have taught me some lessons. I wish to share them with you and hope you will find them useful.
Lesson #1: Be careful to ask what you want.
You may get it. What this means is that do not ask too little either of yourself or the others around you. What you ask is what you get. When I look back at the time when I joined Wipro, I was 21. If you ask me whether I thought that Wipro would grow so by someday, the honest answer is that I did not. But neither did I think it would not. We constantly stretched ourselves to higher and higher targets. Sometimes, it seemed possible, sometimes fanciful and sometimes plain insane. But we never stopped raising limits. And we got a lot more than what we bargained for.
Lesson # 2: Respond, don’t react:
Always be aware of your emotions and learn to manage them. There is a huge difference between people who react impulsively and those who can disengage themselves and then respond at will. By choosing to respond differently, we can prevent another person from controlling our behaviour. I remember a small story that illustrates this well. There was once a newspaper vendor who had a rude Customer. Every morning, the Customer would walk by, refuse to return the greeting, grab the paper off the shelf and throw the money at the vendor. The vendor would pick up the money, smile politely and say, “Thank you, Sir.” One day, the vendor’s assistant asked him, “Why are you always so polite with him when he is so rude to you? Why don’t you throw the newspaper at him when he comes back tomorrow?” The vendor smiled and replied, “He can’t help being rude and I can’t help being polite. Why should I let his rude behaviour dictate mine?
Lesson # 3: Intuitions are important for making decisions:
It is important to realize that our intuition is a very important part of decision making. Many things are recorded by our subconscious. Use both sides of the brain. Even that is not enough. Some decisions need the use of the heart as well. When you use your mind and heart together, you may get a completely new and creative answer.
Lesson # 4: Learn to work in teams:
The challenges ahead are so complex that no individual will be able to face them alone. While most of our education is focused in individual strength, teaming with others is equally important. You cannot fire a missile from a canoe. Unless you build a strong network of people with complimentary skills, you will be restricted by your own limitations. Globalisation has brought people of different origins, different upbringing and different cultures together. Ability to become an integral part of a cross-cultural team will be a must for your success.
Lesson #5: Never lose your zest and curiosity:
All the available knowledge in the world is accelerating at a phenomenal rate. The whole world's codified knowledge base (all documented information in library books and electronic files) doubled every 30 years in the early 20th century. By the 1970s, the world's knowledge base doubled every seven years. Information researchers predict that by the year 2010, the world's codified knowledge will double every 11 hours. Remaining on top of what you need to know will become one of the greatest challenges for you. The natural zest and curiosity for learning is one of the greatest drivers for keeping updated on knowledge. A child’s curiosity is insatiable because every new object is a thing of wonder and mystery. The same zest is needed to keep learning new things. I personally spend at least 10 hours every week on reading. If I do not do that, I will find myself quickly outdated.
Lesson # 6: Put yourself first:
This does not mean being selfish. Nor does it mean that you must become so full of yourself that that you become vain or arrogant. It means developing your self confidence. It means, developing an inner faith in yourself that is not shaken by external events. It requires perseverance. It shows up in the ability to rebound from a setback with double enthusiasm and energy. I came across a recent Harvard Business review which describes this very effectively :“No one can truly define success and failure for us- only we can define that for ourselves. No one can take away our dignity unless we surrender it. No one can take away our hope and pride unless we relinquish them. No one can steal our creativity, imagination and skills unless we stop thinking. No one can stop us from rebounding unless we give up.”And there is no way we can take care of others, unless we take care of ourselves.
Lesson # 7: Have a broader social vision:
While there is every reason to be excited about the future, we must not forget that we will face many challenges as well. By 2015, we will have 829 million strong workforce. That will make India home to 18% of global working-age population. The key challenge is to transform that into a globally competitive work-force. This will not be an easy task. Despite all the rapid economic expansion seen in recent years, job growth in India still trails the rise in working-age population. It is important that gains are spread across this spectrum, so that the divide between the employed and the under-employed, is minimised. Education is a crucial enabler that can make this growth as equitable as possible.
Lesson # 8: Play to win:
Playing to win is not the same as playing dirty. It is not about winning all the time or winning at any cost. Playing to win is having the intensity to stretch to the maximum and bringing our best foot forward. Winning means focusing on the game. The score board tells you where you are going, but don’t concentrate too much on it. If you can focus on the ball, the scores will move by themselves. I recently came across this story that I thought I would share with youA group of alumni, highly established in their careers, got together to visit their old university professor. Conversation soon turned into complaints about stress in work and life. Offering his guests coffee, the professor went into the kitchen. He returned with a large pot of coffee and an assortment of cups: porcelain, plastic, glass, crystal- some plain looking, some expensive, some exquisite – and asked them to help themselves to coffee. When all the students had a cup of coffee in hand, the professor said: "If you noticed, all the nice looking expensive cups were taken up, leaving behind the plain and cheap ones. While it is normal for you to want only the best for yourselves, you were more concerned about comparing your cups but what you really wanted was coffee. Yet you spent all your time eyeing each other's cups. Now if life is coffee, then the jobs, money and position in society are the cups. They are just tools to contain Life, but cannot really change the quality of Life. Sometimes, by over concentrating on the cup, we fail to enjoy the coffee."I wish you all every success in your career and your life.
Source: Forwarded Mail
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