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DECEMBER 2001 Contents
Page 5 of 10
WIPRO- Azim Premji.
Engineering at Stanford University in 190 - unfinished .
/Wealth created about $ 2-50 billion .
In 1966 Premji had to cut short
his engineering studies at Stanford University due to his father’s
death. He joined the family business of vegetable oils “vanaspati”, bakery fat, hair
care soaps, lighting products, and hydraulic cylinders.
that time , Premji has taken astute business decisions such as making PCs
when IBM was thrown out of India in 1975
. Along with keeping the core values of integrity, innovative
solutions, human values and value for money.
with Murthy , Premji is known
for his simple living and high thinking,
travel by economy class and staying in value-for-money hotels. He
believes in his own company and currently owns
75 percent of the company's shares.
1984 Wipro pioneered the concept of sharing wealth through stock awards ,
although , some of his core executives have left Wipro and gone to launch their
own companies having felt that they could have done better had they been
awarded in a better fashion.
Wipro launched the Stock Options
in 1999 . They have been the
first in India in 1997 to start the Sigma Six Quality Program [ a quality
metric that uses the concept of leadership of teams by high quality
professionals as Judo/ karate “Black Belts” ] which has been followed
with great success at General Electric
Premji is of the opinion that
with the Internet population in India at a small number , E-Commerce will
not be feasible until a number of 25 - 30 million Internet users is
reached by 2005. He also feels that the India customer has to evolve and that the Indian mind-set is more touch and feel. as
opposed to the western consumers who have more faith in the products
available over the net.
The Indian Information ,
Communications and Entertainment [ ICE ]
Convergence Bill that was passed recently will be helpful according
to Premji in areas such as Telecom regulations and Frequency Spectrum
Premji as the visionary sees
India also moving from a manufacturing to a knowledge era.
He believes that due to the
communications revolution , physical country borders do not define
markets. Thus the movement of goods , services , finance will move to
places of lowest cost and
global distribution. Benchmarks of customer services have to be immediate
the old advantages of nations based on material resources has
shifted to the advantage based on ideas which come from an enlightened and
educated people .
Hence in future leadership at Wipro will be based not on Command and Control
but on being able to generate excitement and enthusiasm to generate
innovative ideas .
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