Wednesday, October 13, 2010

Azim Premji - A Great Entrepreneur



"I never perfected an invention that I did not think about in terms of the service it might give others... I find out what the world needs, then I proceed to invent."
- Thomas Edison


hello!!!! friends i'm back with some gap. Now i got something to share with you all. As i told already we all should be aware of good entrepreneurs in the world who experienced success in their life's.

I'm here to inspire you all with the great history of the chairman of Wipro Technologies. He is the richest Indian for the past several years. He honored with Padma Bhushan in 2005. He is also often known as the Indian Bill Gates.He is none another than the great entrepreneur of India Mr.Azim Premji.




Personal Life:
 

Premji was born in Mumbai to a Gujarati Khoja Ismaili Shia Muslim family. His father M. H. Premji owned the Western India Vegetable Product Company (which later became Wipro Ltd.) which made hydrogenated vegetable oils and fats. His grandfather was the rice king of Burma. His father had declined an invitation from Muhammed Ali Jinnah to go to Pakistan. While he completed his initial education at St. Mary's School, Mumbai, Premji was forced to leave his studies in electrical engineering from Stanford University, California, USA at the age of 21 to take over the family business when his father, M.H. Premji, suddenly died in 1966. He has since after a gap of over thirty years completed his degree in Electrical Engineering.

 

Initial Stages:   
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.This is the greatest thing that a person changed the business suddenly to the business which is quite different from previous one. By this we can say that winners never step back.

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.



The company’s IT division became the world’s first to win SEI CMM level 5 and PCMM Level 5 (People Capability Maturity Model) certification, the latest in quality standards. A large percentage of the company’s revenues are generated by the IT division. Wipro works with leading global companies, such as Alcatel, Nokia, Cisco and Nortel and has a joint venture in Medical Systems with General Electric company.

 

Motivational Attributes:   
Premji’s story of success and prominence clearly shows how determination and perseverance, when coupled with knowledge, clear vision and proper planning, enable one to reach the peak of success and leadership. A straight forward person, he doesn’t believe in resorting to bribery or corruption to get things done and associates quality with integrity. He is an absolute workaholic and according to him work is the only way to success and survival in a competitive environment. A tough employer, he expects his employees to be competent and will not tolerate lies or deception from anyone.



Social Responsibility:

We can also find the angle of social responsibility in Azim premji. In the year 2001, Premji established Azim Premji Foundation, 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. The foundation works closely with the state governments of Karnataka, Andhra Pradesh, Madhya Pradesh etc and the programs cover over 5000 rural schools. Premji contributes the financial resources for the foundation.




Honours and awards
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Premji has been recognized by Business Week as one of the Greatest Entrepreneurs for being responsible for Wipro emerging as one of the world’s fastest growing companies.

In 2000, he was conferred an honorary doctorate by the Manipal Academy of Higher Education.

As on March 9, 2010, he was one of the wealthiest people in India, with a net worth of $17 billion.


He was awarded a Doctor of Letters (D.Litt.), an honorary degree, from the Aligarh Muslim University on the 18th of June, 2008 on the occasion of 58th Convocation Ceremony of the University. In 2009, he was awarded an honorary doctorate from Wesleyan University in Middletown, Connecticut for his outstanding philanthropic work.



Attitude:
 
Personally, Premji is known for his humility and helping mentality. Easily one of the richest men in the world, he always travels in economy class. One of his favorite recreational activity is hiking. He leads a quiet life with his wife Yasmin Premji who had worked for ‘Inside Outside’ (editorial) in Mumbai and his two sons in a simple, but elegant villa in Bangalore. The elder son, Rishad, works in the USA for GE and the younger one, Tariq, has co-founded a dotcom and works from Bangalore. Mr. Premji who holds 78% stakes in the company does not believe in naming one of his sons as his successor just for the norms.

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So friends by this we can say that we can win lives but the only thing required is to be much courage and fearless. Every step is important but even that should be a daring step that couldn't be taken by all. Let all of us try to reach the highs with much encouragement. Never feel inferior of yourself friends. If something is impossible for us then it is also not possible to others. So think about yourself confident. Be simple, live simple, think everything is simple. Don't be excited for small achievements and don't be depressed for small loses. Be brave, be bold, be energetic, be innovative in doing things. Never try to step back.


this what i want to say. You may have got bored of it. If you felt bored then i'm sorry guys.Hope you all like this. If anything wrong then forgive me and comment on my post. Bye friends. Have a nice and cool time. Take care.

2 comments:

  1. wonderful post! I absolutely love to read about successful entrepreneurs like Azim Premji, Bill Gates or Yuri Mintskovsky. They are good role models for anyone who wants to be a great entrepreneur today. I have a lot of admiration for these smart men!

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    1. Thanks for the comments Ms.Stacie :).
      Keep visiting my blog. Thank you

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