Entrepreneur Management


Azim Premji

Azim Hasham Premji, chairman, Wipro Corporation, a pioneer of the Indian InfoTech industry is one of the most distinguished leaders of corporate India. Azim Premji is one of the world's most successful businessmen, regarded as an Indian Bill Gates after transforming his father's vegetable products company, Wipro, into a multi national computer giant, the company under the flag of his leadership never failed to deliver its best. A personality revered by all the software professionals and an icon to the aspiring youth of the country, who has never failed to inspire the young entrepreneurs. Forbes has estimated his net worth US $ 17.5 Billion in 2010 making him India s second richest person after Mukesh Ambani, the Chairman of Reliance Industries.

Early life
Azim Premji was born in 1945 in Karachi, Pakistan in Gujarati Khoja-Shia Muslim family. Right now he is residing in Bangalore. His father was also a business tycoon who owned Western India Products Limited (The Full form of WIPRO). The core business of WIPRO was vegetable oil and fats.Azim Premji comes from a Business family and his grandfather was a rice king of Burma. Azim Premji completed his initial education from St. Mary s School, Mumbai and later on went to study Electrical Engineering at Stanford University, California, USA where Larry Page, the co-founder of Google has studied. But at the age of 21 years, he forced to leave his study becauseof the sudden death of his father in 1966 who founded WIPRO as a vegetable oil and soap company. After that, 30 years later after building a fortune, he finished his graduation again back from Stanford University.

He was also adjudged the Business Man of the Year 2000 by Business India. He is a member of the Prime Minister's Advisory Committee for Information Technology in India. Mohamed Hasham Premji, according to India Today, had been invited by Muhammad Ali Jinnah to come to Pakistan to serve as finance minister in the country s first cabinet. Jinnah, of course, was Pakistan s George Washington. The invitation came after partition in

Hasham turned it down. But if independent India s first government forced the closing of one Premji business. In the end. . Apart from any concerns he might have had over disastrous sectarian relations hundreds of thousands died in the violence as Hindus and Muslims migrated to their respective sides of the new border he had the socialist agenda of Indian Prime Minister Jawaharlal Nehru to consider. opting to stay in India and take his chances. a later one provided the opening to diversify into another. in fact. forced Hasham out of the export business when it nationalized the rice industry.1947. a decision any Muslim businessman must have weighed carefully. when the subcontinent s Muslim-majority states split off to form Pakistan. a move that put him on the road to making vegetable oil. Nehru s Congress government.

he drives very small car. In comparison to his enormous wealth. Premji prefers to stay in company guest houses rather than luxury hotels and even served food on paper plates at a lunch honoring his son's wedding. One of his favorite recreational activities is hiking. Azim premji drives Toyota Corolla. he always travels in economy class. Premji is known for his humility and helping mentality. A Car having market value of just Rs.12-16 Lakhs? a car that any upper middle class can afford. He leads a quiet life with his wife Yasmin Premji who had worked for µInside Outside¶ (editorial) . Easily one of the richest men in the world.Family & Personal Life Personally.

Rishad is married to Aditi and is currently the Chief Strategy Officer of IT Business. Wipro Technologies.Premji have two children. Rishad Premji and his younger brother Tariq Premji. Rishad and Tariq. Premji Invest. Rishad Azim Premji Rishad Premji joined WIPRO at the age of 30 in end of 2007. . who works with Azim Premji s personal investment firm.

1. Azim Premji Receives Rs. he was rated among the 100 most influential people in the world by Time magazine. a group company that holds Wipro Technologies. In 2000. . one of its group companies. he was voted among the 20 most powerful men in the world by Asiaweek. Premji is also often known as the Indian Bill Gates. grew from a company of US $2. is one of India's largest software companies and is ranked among the top 100 technology companies globally. Wipro Technologies.Azim Premji Net Worth Azim Premji is an Indian business tycoon and the chairman of Wipro Limited.5 5 Crores in Annual Salary from his Company Wipro which is very minimal salary in comparison to his over all Wealth. which dealt in hydrogenated cooking fats along with consumer products. one of India's largest software development companies. Forbes has Estimated His Net Worth US $ 17 Billion in 2010 making him one of the richest person in the world and India s Second Richest person.5 million to a giant of $1. His assets include 74% of Wipro.4 billion under Premji's leadership. He was also among the 50 richest people in the world from 2001 to 2003 according to Forbes. Wipro Limited. In April 2004.

Azim Premji Profile Azim Premji. Wipro s Chairman and CEO has become one of the world s wealthiest men with an estimated net worth of just under $17 billion a total that slots him at number 28 on Forbes magazine s 2010 list of the World s Billionaires. he was called upon to handle the family business. a Bangalore. Graduated in Electrical Engineering from Stanford University USA when due to the sudden demise of his father. . repositioned it and created Wipro Ltd. As holder of more than 74% of the company s stock..4 billion. Chairman and Managing Director of wipro Tecnologies. India-based IT services organization with 2007 revenues of $3. Azim Premji inherited his father s $2 million hydrogenated cooking fat company in 1966.

Epson. Wipro also entered the lighting products market and started manufacturing light bulbs with General Electric. technology and process solutions on a global delivery platform. Hewlett-Packard and Sun Microsystems . Wipro started manufacturing computer hardware. In 1975. Today. e-Security Inc's security information management and compliance monitoring solution. The company began selling and assembling products made by such well-known companies as Canon. The company entered the personal computer market in 1977. Under his leadership Wipro ventured into a continuous phase of expansion and diversification with consolidation. moving in to fill the void by the withdrawal of IBM in 1977. toiletries.Under Azim Premji's leadership Wipro (Western India Vegetable Products Ltd. and baby care products. before venturing into IT. later moving in to software development under a special license from Sentinel. Premji started off in Wipro with a simple vision to build an organization on a foundation of values.) has metamorphosed from a company in hydrogenated cooking fats to a pioneer in providing integrated business. the company diversified from vegetable oils to hydraulic cylinders and fluid power components and its factory at Amalner was used for production of soaps. Wipro Technologies is the largest independent R&D service provider in the world.

software design. The company offers software solutions. and solutions. and research and development services in areas of hardware. integrated IT and ITeS Corporation.As a result. With offices in 45 countries. IT consulting. the $2. business process outsourcing services. .76-billion diversified. the company is the fourth largest in the world in terms of market capitalization in IT servicess Personality.0-million company in hydrogenated cooking fats grew within a few years to a $1.

he expects competence from his people and though he is forgiving about genuine errors of judgment. in a competitive environment. he simply does not tolerate obfuscation or deception. This simply means that he was a tought minded person with very much control of his emotions and belived in showing the results rather than being discourage by his emotions. This spurred Azim Premji and made him all the more determined to make Wipro a success story. . Premji is a workaholic and according to him. work is the only way to success and survival.Attitude & Values At the first annual general meeting of the company attended by Azeem Premji. An exacting taskmaster. And the rest is history. 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.

He takes a personal interest in developing teams and leaders. For instance. This belief has driven Wipro's pioneering efforts in quality practice adoption. He has consistently refused to offer bribes to get things done. Wipro is the first software service company in the world to be assessed at SEI CMM level 5 the highest maturity level for any software process. his oils business had to wait for 18 months to get an electrical substation for the vegetable manufacturing unit because he refused to give in to demands for bribes. The company earned this certification in June 1999. Six Sigma is a disciplined. at an unbelievably high cost to the company. data-driven approach and methodology for eliminating defects (driving towards six standard deviations between the mean and the nearest specification limit) in any process from manufacturing to transactional and from product to service. Premji strongly believes in delivering 'value to the customer' through world-class quality processes. A measure of quality. He invests significant time as a faculty in Wipro's leadership development programmes. Premji's adherence to integrity is legendary and he is known to be a stickler for it.Premji firmly believes that ordinary people are capable of extraordinary things. Wipro has already put in around five years into process improvement through Six Sigma. As the pioneers of Six Sigma in India. It is also the world's first organisation to achieve PCMM Level 5 (people capability maturity model). He believes that the key to this is creating highly charged teams. But Premji remained steadfast. preferring the extra financial liability to breaking his strict code of adherence to values . He also makes it a point to deal directly with customers as much as possible. For 20 months the unit was run on captive power generation.

During one of his lectures. by constantly raising the bar and stretching yourself and your team. it s a habit. but a battle you fight with yourself. In a global economy. set the tone for their organizations. and leaders like him. Wipro not only competes with similar companies in India. I was brought up to believe that values are more important than money Premji s pleasant personality and his down to earth traits are not exactly synonymous with the tag of the richest Indian. and he realizes that he. he states. Azim Premji . Excellence is not an act. Premji s goal is for Wipro to be the best at what it does period. March 2000. principal correspondent for the newsweekly India Today. but across the globe.Azim Premji said in his interview with Vir Sanghvi for his book Men Of Steel that values. Stephen David. he touched on several things he believes Wipro can improve upon and talked about the steps being taken to make such improvements. I have found that excellence is not so much a battle you fight with others. Striving for excellence is also a Premji standard.

The Leader Premji firmly believes that ordinary people are capable of extraordinary things. He also makes it a point to deal directly with customers as much as possible. He takes a personal interest in developing teams and leaders. He believes that the key to this is creating highly charged teams. . He invests significant time as a faculty in Wipro's leadership development programmes.

He s just like a good coach. One can say that he uses Free-Rein style of leader where the leader gives complete freedom to his follower to establish their own goals. The coaching model of leadership is important. . including lessons gleaned from the occasional failure that accompanies risk taking. He believes that he empowers people. What you do today can you afford to see it in the newspaper tomorrow? Can you look in t he mirror and talk to your wife about it? Talk to your parents about it? he asks. More than six-dozen former Wipro employees have launched successful businesses around the world. Premji believes self-confidence is a necessary part of good leadership. That confidence allows leaders to take risks and learn from them. and Premji doesn t believe this is possible if the leader doesn t do so with honesty and integrity. Wipro leadership must be globalized. One of Premji s greatest talents is his ability to recognize talent. Working in teams is also an integral part of how Wipro does business.Setting the standard for an organization is a necessary aspect of good leadership as well. To aid in this accomplishment. With 80. notes Premji. This requires a huge adjustment. You invest in talent to get more out of someone. not a view that s driven quarter by quarter.000 employees 15. This has proven true of Premji. Good coaches can get more potential out of an athlete than the athlete realizes. Premji takes a long-term view in terms of Wipro. It s essentially a tough love message.000 of them located outside of India leadership needs to be culturally sensitive. and an employee s ability to be a contributing member of a cross-cultural team has become increasingly important to the company s success.

I like to create businessmen I encourage people to run division as though it is their own business. they are reluctant to go because they have got emotionally involved with their division Azim Premji Self-confident people assume responsibility for their mistakes and share credit with their team members . no one can make you feel inferior without your consent. Azim Premji . This is good because it motivates them. Remember. but bad because when it is time to move them to another division.

When American newsweeklies run cover stories about the rise of India. they re talking about Wipro and a handful of counterparts. which is the specialty of the Azim Premji Foundation.' He and Gates have also discussed pooling philanthropic work.S. politicians and pundits wring their hands about the effects of outsourcing engineering work in nearly every sphere to Indian companies. When U. he has transformed the family vegetable-oil business into one of India s top four technology services firms. although Premji quashes speculation that the two could join forces more formally: 'They're much too big to want to partner with us. an old acquaintance and collaborator. Premji is flattered by comparisons with Gates. particularly initiatives in education. . Microsoft is one of Wipro's biggest customers in India.The Super-achiever In the past three decades. they re talking about successes like Azim Premji s.

Respect yourself." .Never change your core values In 2000 he was voted among the "20 most powerful men in the world" by Asia Week.Keep renewing yourself 7.Play to win 9.Always look at the opportunities that change represents 4. Financial Times included him in the list of "top 25 billionaires who have done most to bring about significant and lasting social. In April 2004. He was also ranked among the "50 richest people in the world" from 2001 to 2003 according to Forbes. political or cultural changes".Surround yourself with people who are open to change 8.Realise that fear of the unknown is natural 6. he was rated "among the 100 most influential people in the world" by Time magazine and Business Week (October 2003) featured him on its cover with the sobriquet "India's Tech King.Do not allow to become change 5.Azim Premji s ideas towards success: 1. the world will reward you on your success 10.Anticipate change even when things are going right 3.Be alert for the first signs of change 2.

compared to Rs 1.3 crore during the quarter. up 12% over the corresponding quarter of the previous year. when it was Rs 6. In 2005 the government of India honoured him with the Padma Bhushan.203. Wipro's consolidated revenue grew to Rs 7.8 crore.829.938 crore.2 crore a year ago . and the Manipal Academy of Higher Education have both conferred honorary doctorates on him. He is also a member of the prime minister's advisory committee for IT in India. Its net profit grew at 10% to Rs 1. one of the highest civilian awards in the country.The Indian Institute of Technology-Roorkee.318.

three keyboards and three 'mouses'. The organisation has over the years been instrumental in improving the quality of general education. Programmes of the Azim Premji Foundation focus on "creating effective and scalable models that significantly improve the quality of learning in the school and ensure satisfactory ownership by the community in the management of the school". particularly in rural schools. Citing a technology initiative. Azim Premji Foundation says it "dedicates itself to the cause of Universalization of Elementary Education in India". the Foundation reported: "Think of a single PC with three display terminals. The Foundation was set up with financial resources contributed by Azim Premji. which can be simultaneously used as if they are three independent computers". .Azim Premji Foundation The Azim Premji Foundation says it "Aims at making a tangible impact on identified social issues by working in active partnership with the Government and other related sectors of society". This innovative idea from the Azim Premji Foundation is being deployed in the computer aided learning centre at the Byatarayanapura Higher Primary School in Bangalore South District and in another school.

35 for Tamil Nadu and Pondicherry. 14 for Gujarat. With these. 18 for Urdu medium schools. 42 for Andhra Pradesh. This Foundation is also involved in computer-based assessment in Andhra Pradesh (50.000 students took part in early 2005). Fun with Chinchoo in Mathematics and Khel-Mel (Hindi). They are: Friendly Animals and Journey on the Clouds (English). released in February 2005. a learning guarantee programme. and a policy planning unit in Karnataka. six for Orissa. the total number of master titles available is 70.Five new titles of educational CDs for Indian schools were produced earlier in 2005. 3 for Punjab and 1 for Kerala. Swatantra Divas. There are now 68 titles in Karnataka. .

I vote him as the most inspiring man.INSPIRATION Azim Premji does a lot of charity work in India and a well respected man. His actions speak louder than words. He has made India proud by establishing brand India through his company. He is a man of guts and I have been inspired by his works as well as principles. . The most inspiring personality of the Year. His company is one of the top most information technology companies in the world.

Be it in corporate world or political world. Abraham Lincoln or mother Teresa used to be. he will change our perspective and help us to achieve what we dream of. He is the third richest manin the world. . That person will polish up and lubricate our days With fluctuating values in daily life and diminishing importance to ethics. Yet he is simple. indeed life is a journey where there is a lot to be explored. Life is a journey.The founder of Ford Company once said. a man who can kindle a fire in your belly and who can change your life forever. Yes. the need of the hour in India is to have somebody to look up to. And that personality is ought to be called the Inspiring person of your life. He is the man I earlier talked about. someone to inspire us to take on the world and that we don t have to be mediocre. but his actions speak louder than his words. it is tough to find a right role model or a person who can inspire for a teenager like me. the founder of Wipro. universally it is decaying. Nehru. He will come and change the way we think. He is Azim Premji. With one by third of the population below 14 years of age and more than 60 percentage of the population below 35 years of age. He is a man of few words. But at certain points in life we may need someone to tell us what the purpose of life is. There is one person in India who doesn t like to steal the limelight24/7. enjoy the drive . It is very important for the country in general and for the young adults in particular to have somebody who holds values and principles tight and who can be a source of inspiration like Gandhiji.

Contribution to Society Azim Premji has contributed a lot to the development of the country. Azim Premji Foundation aims at making a tangible impact on key social issues by working in active partnership with government and other relevant sections of the society. The financial resources to this foundation have been personally contributed by Premji. The foundation has a dream of contributing to the future of India by transforming the lives of millions of children over the next decade. Objectives: The overall objective of Azim Premji . The financial resources to this foundation have been personally contributed by Premji. In the year 2001. a not-for-profit organization with a vision of influencing the lives of millions of children in India by facilitating the universalisation of elementary education. Premji established Azim Premji Foundation.8 million children under various programmes. This means every child is in school and learning. The current programs of the Azim Premji Foundation cover over 5000 rural schools. The current programs of the Azim Premji Foundation engage 1. through universalisation of elementary education.

Develop greater community ownership in elementary education. this would imply the following: . education and development. More specifically.Enrol and integrate every out-of-school child into formal school or alternate education in a time-bound manner . It believes that "Education is the vital element in the development and progress of our nation". Azim Premji Foundation says it "Aims at making a tangible impact on identified social issues by working in active partnership with the Government and other related sections of the society".Facilitate elimination of all forms of child labour that are oppressive in nature and are detrimental to the child¶s health.Foundation is achieving universalisation of elementary education in the country.Facilitate improvement in the quality of learning in school . .

The overextended chain imploded and all stores across the country were shut down. sources said. Subhiksha faced severe financial crises pertaining to liquidity.600 supermarket stores. Subhikha Managing Director R Subramanian was not available for comment. the food and grocery retailer. and defaulting on loans. Trouble for Subhiksha began in late 2008 when the company ran out of cash. The cash shortage eventually resulted in Subhiksha closing its nationwide network of 1.Azim Premji Subhiksha In September 2008. most likely never to open again. The stake was bought from ICICI Ventures. . vendor payments and staff salaries. Azim Premji bought 10% stake in Subhiksha Company. a private equity arm of ICICI Bank. This transaction was done by Premji¶s personal investment entity Zash Investments Ltd. bringing its operations to a standstill.

and an out and out fraud. In fact. Azim Premji on CWG Azim Premji told in this article that. spending Rs. fake inventory.´ After that Subhiksha takes Azim Premji to court in October 2010 for his above comments in media and damaging its brand image. He said. fake bills. ³Subhiksha was a retail equivalent of Satyam . "There was an overstatement of accounts. fake companies that money was transferred to. the money was highly mismanaged in this games . This is because the government could have spend this much money to build the strong health care and school infrastructure of the country.India's largest corporate fraud.Azim Premji said that. adding that it was a retail equivalent of Satyam.28.000 crores behind common wealth games was the wrong priority by the government of India. Subhiksha has filed a criminal case against Azim Premji for an interview that he had given in a newspaper in which he had said that Subhiksha was unfortunate.

He was adjudged the Business Man of the Year 2000 by Business India and as the Business Leader of the Year 2004 by the Economic Time . he took the charge of his father¶s vegetable oil company WIPRO in 1966 and transformed it into a soap to software giant in just 3 decades. .Azim Premji. . one of the highest civilian awards in the country. . . .In January 2005.Born in 1945 in Karachi.He is a great leader and received several awards of great leader by various organisations. Here are the few achievements of Mr. the Government of India conferred upon him the Padmabhushana. . .Wipro is today ranked among the top 100 Technology companies globally (by Business Week).WIPRO today is the biggest BPO Service provider of India .5 Billion according to Forbes 2010.Azim Premji Achievements Azim Premji is the great leader and the Billionaire business tycoon of India. .Time listed him (April 2004) as one amongst 100 most influential people in the world.He runs Azim Premji Foundation which is funded by his own money. Pakistan.Azim is India¶s second richest person having net worth of US $ 17. He achieved lots of things in his life.

. Premji¶s life gives us many valuable lessons like his own eight steps to excellences which are: The first thing is that we must always begin with our strengths. when you get so much in life. The important thing is. The second lesson is that a rupee earned is of far more value than five found. do not lose the lesson. And if you do encounter failure along the way accept it. The third lesson is no one bats a hundred every time. This brings me to the value of gratitude. when coupled with knowledge. We only know the value of what we have if we have struggled to earn it. when you lose. what is gifted or inherited follows the old rule of 'easy come. The fourth lesson is the importance of humility. easy go'. learn from it and move on. look at your own share in the problem. That is because it is only our strengths that can give us the energy to correct our weaknesses.Conclusion Premji¶s story of success and prominence clearly shows how determination and perseverance. clear vision and proper planning. you lose some. you really start wondering whether you deserve all of it. In fact. enable one to reach the peak of success and leadership. Life has many challenges. Sometimes. You win some. We should always show gratitude.

Remember. define what you stand for. And the final lesson is that we must have faith in our own ideas even if everyone tells us that we are wrong. What I take from Premji¶s life and achievement is. The seventh lesson is that while you must be open to change. These lessons.The fifth lesson is that we must always strive for excellence. never lose your zest and your curiosity. Keep learning what they do differently. . integrity. preserve. always strive for excellence. build self confidence. One way of achieving excellence is by looking at those better than ourselves. Azim Premji. sum up the life of Azim Hasham Premji who single handily changed the fortunes of Wipro. Values like honesty. which is very much signified in his thought below: "You should dare to dream. besides above eight lessons. take care of yourself. in a way. to achieve success of this proportion you need to have discipline and a high level of peservance. do not compromise on your values. consideration and humility have survived for generations. Emulate it. those who win are those who believe they can. have a broader social vision and finally never let success go to your head" Azim Premji. learn to work in teams. The sixth lesson is never give up in the face of adversity.