Entrepreneur: Nagavara Ramarao Narayana Murthy!
Narayana Murthy is an Indian billionaire businessman. He is the co-founder of Infosys, and has been the chairman, chief executive officer (CEO), president, and chief mentor of the company before retiring and taking the title chairman emeritus. Under his leadership Infosys became the first Indian company to be listed on the Nasdaq. It also became the first listed Indian company with revenue of $1 billion a year. He is this year’s winner of ET’s Award for Lifetime Achievement. Murthy was on born 20 August 1946 and raised in Shidlaghatta, Karnatakainto a middle-class Brahmin family. He graduated from National Institute of Engineering, University of Mysore with a bachelor's degree in electrical engineering and a master's degree from the Indian Institute of Technology Kanpur.Murthy worked at Indian Institute of Management Ahmedabad as the chief systems programmer, and Patni Computer Systems in Pune (Maharashtra).Narayana Murthy started Infosys in 1981 and was the CEO from 1981 to 2002 as well as the chairman from 2002 to 2011. In 2011, he stepped down from the board and became the chairman emeritus. In June 2013, Murthy was appointed as the executive chairman for a period of five years.Murthy first served as a Research Associate under a faculty at IIM Ahmedabad and then later served as the chief systems programmer. There he worked on India's first time-sharing computer system and designed and implemented a BASIC interpreter for Electronics Corporation of India Limited. He started a company named Softronics. When that company failed after about a year and a half, he joined Patni Computer Systems in Pune.A bitter experience on a train in 1974 in Niš, a border town between what is now Serbia and Bulgaria, turned N R Narayana Murthy into a "compassionate capitalist" from a "confused leftist", leading him to create Infosys. Murthy and his six software professionals founded Infosys in 1981 with an initial capital investment of Rs 10,000, which was provided by his wife Sudha Murthy. Murthy served as the CEO of Infosys for 21 years from 1981 to 2002 and was succeeded by co-founder Nandan Nilekani. At Infosys he articulated, designed and implemented the Global Delivery Model for IT services outsourcing from India. He was the chairman of the board from 2002 to 2006, after which he also became the Chief Mentor.Murthy serves as an independent director on the corporate board of HSBC and has served as a director on the boards of DBS Bank, Unilever, ICICI and NDTV. He also serves as a member of the advisory boards and councils of several educational and philanthropic institutions, including Cornell University, INSEAD, ESSEC, Ford Foundation, the UN Foundation, the Indo-British Partnership, Asian Institute of Management, a trustee of the Infosys Prize, a trustee of the Institute for Advanced Study in Princeton, and as a trustee of the Rhodes Trust. He is also the Chairman of the Governing board of Public Health Foundation of India. He serves on the Asia Pacific Advisory Board of British Telecommunications. In 2005 he co-chaired the World Economic Forum in Davos.Murthy also serves on the strategic board which advises the national law firm, Cyril Amarchand Mangaldas, on strategic, policy and governance issues. He is also a member of IESE's International Advisory Board (IAB).As Infosys’s first CEO, Murthy ran the company for 20 years and laid down a solid foundation. Today Infosys has over $3 bIllion in revenue, more than 70,000 employees and over 500 customers. A few months ago rumours about Infosys buying a large European company moved the European stock index. In April 2003 when Infosys announced a lower profit growth for the next year, the BSE sensex fell 3.4% in a single day and technology stocks lost Rs 16,000 crore in market capitalisation. It’s not an exaggeration to say that when Infosys sneezes, the rest of the industry catches a cold.A leaders’s greatest test of character comes only at times of adversity. Murthy’s darkest hour was a day in 1990, when his cofounders, after years of struggle and frustrations at dealing with the government decided to throw in the towel. Infosys was being offered a princely sum of $1 million in a buyout and the other founders wanted to exit. But Murthy believed that Infosys was destined for bigger things. Although he didn’t have any money he offered to buy out the cofounders and continue runningInfosys. Stunned by his conviction, the other cofounders backed off. The rest as they say is history.For Murthy “the best use of all the wealth - financial, intellectual, or emotional is to share it with the less fortunate”. In 1996 the company promoted Infosys Foundation, which helps the underprivileged in improving healthcare, social rehabilitation, education, art and culture.Murthy has been listed among the 12 greatest entrepreneurs of our time by Fortune magazine. He has been described as the "Father of the Indian IT sector" by Time magazine for his contribution to outsourcing in India. Murthy has been honoured with the Padma Vibhushan and Padma Shri awards. He received IEEE Ernst Weber Engineering Leadership Recognition in 2007 for his role in globalisation of information software.Murthy was appointed Commander of the Order of the British Empire (CBE) by UK in 2007 and many more achievements.Being born into a poor family did not deter Narayana Murthy from pursuing his dreams. This is what we can learn from Narayana Murthy’s determination to succeed – anyone can rise in education and career if he/she puts his mind and heart to it. Lack of financial resources is not an excuse for a dull career. William Shakespeare once said, “It is not in the stars to hold our destiny but in us.” Similarly, just because one is born into a poor family does not mean that he/she will remain poor and unsuccessful for the rest of his/her life. If we are passionate about changing our future, our dreams will definitely come true. Life is full of challenges. We all make mistakes but it is important to learn from them and rise in our academic and professional lives.
Not just Karnataka’s jewel, but India’s pride – Narayana Murthy.
Narayana Murthy is an Indian billionaire businessman. He is the co-founder of Infosys, and has been the chairman, chief executive officer (CEO), president, and chief mentor of the company before retiring and taking the title chairman emeritus. Under his leadership Infosys became the first Indian company to be listed on the Nasdaq. It also became the first listed Indian company with revenue of $1 billion a year. He is this year’s winner of ET’s Award for Lifetime Achievement.
Murthy was on born 20 August 1946 and raised in Shidlaghatta, Karnatakainto a middle-class Brahmin family. He graduated from National Institute of Engineering, University of Mysore with a bachelor's degree in electrical engineering and a master's degree from the Indian Institute of Technology Kanpur.Murthy worked at Indian Institute of Management Ahmedabad as the chief systems programmer, and Patni Computer Systems in Pune (Maharashtra).
Narayana Murthy started Infosys in 1981 and was the CEO from 1981 to 2002 as well as the chairman from 2002 to 2011. In 2011, he stepped down from the board and became the chairman emeritus. In June 2013, Murthy was appointed as the executive chairman for a period of five years.
Murthy first served as a Research Associate under a faculty at IIM Ahmedabad and then later served as the chief systems programmer. There he worked on India's first time-sharing computer system and designed and implemented a BASIC interpreter for Electronics Corporation of India Limited. He started a company named Softronics. When that company failed after about a year and a half, he joined Patni Computer Systems in Pune.
A bitter experience on a train in 1974 in Niš, a border town between what is now Serbia and Bulgaria, turned N R Narayana Murthy into a "compassionate capitalist" from a "confused leftist", leading him to create Infosys. Murthy and his six software professionals founded Infosys in 1981 with an initial capital investment of Rs 10,000, which was provided by his wife Sudha Murthy. Murthy served as the CEO of Infosys for 21 years from 1981 to 2002 and was succeeded by co-founder Nandan Nilekani. At Infosys he articulated, designed and implemented the Global Delivery Model for IT services outsourcing from India. He was the chairman of the board from 2002 to 2006, after which he also became the Chief Mentor.
Murthy serves as an independent director on the corporate board of HSBC and has served as a director on the boards of DBS Bank, Unilever, ICICI and NDTV. He also serves as a member of the advisory boards and councils of several educational and philanthropic institutions, including Cornell University, INSEAD, ESSEC, Ford Foundation, the UN Foundation, the Indo-British Partnership, Asian Institute of Management, a trustee of the Infosys Prize, a trustee of the Institute for Advanced Study in Princeton, and as a trustee of the Rhodes Trust. He is also the Chairman of the Governing board of Public Health Foundation of India. He serves on the Asia Pacific Advisory Board of British Telecommunications. In 2005 he co-chaired the World Economic Forum in Davos.
Murthy also serves on the strategic board which advises the national law firm, Cyril Amarchand Mangaldas, on strategic, policy and governance issues. He is also a member of IESE's International Advisory Board (IAB).
As Infosys’s first CEO, Murthy ran the company for 20 years and laid down a solid foundation. Today Infosys has over $3 bIllion in revenue, more than 70,000 employees and over 500 customers. A few months ago rumours about Infosys buying a large European company moved the European stock index. In April 2003 when Infosys announced a lower profit growth for the next year, the BSE sensex fell 3.4% in a single day and technology stocks lost Rs 16,000 crore in market capitalisation. It’s not an exaggeration to say that when Infosys sneezes, the rest of the industry catches a cold.
A leaders’s greatest test of character comes only at times of adversity. Murthy’s darkest hour was a day in 1990, when his cofounders, after years of struggle and frustrations at dealing with the government decided to throw in the towel. Infosys was being offered a princely sum of $1 million in a buyout and the other founders wanted to exit. But Murthy believed that Infosys was destined for bigger things. Although he didn’t have any money he offered to buy out the cofounders and continue runningInfosys. Stunned by his conviction, the other cofounders backed off. The rest as they say is history.
For Murthy “the best use of all the wealth - financial, intellectual, or emotional is to share it with the less fortunate”. In 1996 the company promoted Infosys Foundation, which helps the underprivileged in improving healthcare, social rehabilitation, education, art and culture.
Murthy has been listed among the 12 greatest entrepreneurs of our time by Fortune magazine. He has been described as the "Father of the Indian IT sector" by Time magazine for his contribution to outsourcing in India. Murthy has been honoured with the Padma Vibhushan and Padma Shri awards. He received IEEE Ernst Weber Engineering Leadership Recognition in 2007 for his role in globalisation of information software.Murthy was appointed Commander of the Order of the British Empire (CBE) by UK in 2007 and many more achievements.
Being born into a poor family did not deter Narayana Murthy from pursuing his dreams. This is what we can learn from Narayana Murthy’s determination to succeed – anyone can rise in education and career if he/she puts his mind and heart to it.
Lack of financial resources is not an excuse for a dull career. William Shakespeare once said, “It is not in the stars to hold our destiny but in us.” Similarly, just because one is born into a poor family does not mean that he/she will remain poor and unsuccessful for the rest of his/her life.
If we are passionate about changing our future, our dreams will definitely come true. Life is full of challenges. We all make mistakes but it is important to learn from them and rise in our academic and professional lives.
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