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"Character is one factor that will guide all our actions and decisions. We invested in uncompromising integrity that helped us take difficult stands in some of the most difficult business situations."
Reading success stories of greatest professionals stimulates motivational enzyme within us and we all wish to emulate them on path of success.
Exactly with this aim MBARendezvous.com - India's content lead MBA website is presenting you series of success stories of Professionals who have carved niche in their own way and have become icons of Management Fraternity.
Following above you will read today success story of Mr. Azim Premji :
Azim Premji, Chairman of Wipro Technologies is one of India’s most respected business tycoon and philanthropist. Born on July 24, 1945 to an affluent Gujarati entrepreneur he inherited Wipro, a vegetable oil company at the age of 21 after the sudden demise of his father.
Premji was pursuing Electrical Engineering from Stanford University, USA when he took over the reins of his family business in 1966. Initially he was written off to carry the herculean task and was publicly advised to sell his shareholding and give it into more mature hands. This propelled Premji to make Wipro a success story. And the rest is history.
Wipro initially dealt in hydrogenated cooking fats but later forayed into bakery fats, ethnic ingredient based toiletries, hair care soaps, baby toiletries, lighting products and hydraulic cylinders. In 1970s, Wipro made a focused shift from soaps to software services taking advantage of the expulsion of IBM from the Indian market. This played a key role in making Premji one of the richest Indians and put the company among the top global leaders.
Under his able guidance 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. Wipro Technologies is the largest independent R&D service provider in the world and is ranked among the top 100 technology companies globally.
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. It has further collaborated with leading global companies, such as Alcatel, Nokia, Cisco, Ericsson and Nortel and has a joint venture in Medical Systems with General Electric company.
In 2005 Premji was conferred the Padma Bhushan by the Government of India. According to Forbes, he is currently the third richest Indian with a personal wealth of USD 16.8 billion. In 2011, he was awarded Padma Vibhushan, the second highest civilian award.
Premji is known for his modesty and frugality in spite of his staggering wealth. He drives a Toyota Corolla and flies economy class, prefers to stay in company guest houses rather than luxury hotels.
In 2001, he founded Azim Premji Foundation as CSR. The Foundation award degrees in teacher training and is also involved in computer-based assessment in Andhra Pradesh, a learning guarantee programme, and a policy planning unit in Karnataka. In 2010, Premji pledged to donate USD 2 billion for improving school education in India, the first of its kind by any Indian billionaire.
At the age of 65, Premji still continues to guide Wipro through four decades of diversification to emerge as one of the leading brand in the software industry. He is a living icon among Indian businessmen and is a source of inspiration to a number of budding entrepreneurs. Today, he is busy shaping up a third epoch in Wipro’s history- in ecology.
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