Redefining Business Approach | Narayana Murthy | Infosys
When the whole world is threatened by covid19 and is under lockdown, the economy is drastically sinking causing worry to the affected nations, and India stays no different. In such a situation, solutions to raise the economy without falling prey to the virus seem challenging. Very few industrialists can foresee the future with a planned approach, and the Businessman with a unique outlook, Narayan Murthy takes the steps to redefine Business approach without letting his employees down when many are seen to be left out of the companies due to losses suffered.
He stated at a recent webinar to all the business leaders,
“What is important for us to understand is that India cannot continue in this situation for too long. Because at some point of time, deaths due to hunger will far outweigh deaths due to coronavirus.”
It is indeed a phase to dwell into a dilemma when the virus and hunger due to the unavailability of work and food are gripping the people. Narayan Murthy chooses to find a way to live amidst the crisis.
Born on 20 August 1946 in Shidlaghatta, Chikkaballapura district of Karnataka, Mr. Murthy first gained is alma matter from the National Institute of Engineering. In 1969 he received his master’s degree from the Indian Institute of Technology Kanpur. After working as Research Associate under a faculty at IIM Ahmedabad, he got the opportunity to work on India’s first time-sharing computer system. However, struggles are inevitable for those who are born to achieve big. So, when he started his own company called the Softronics, it eventually failed and he had to take up a job at Patni Computer Systems in Pune.
The year 1981 came as a new hope to him when he successfully founded Infosys with six other software professionals. His initial capital injection was Rs 10,000, provided to him by his beloved wife Sudha Murthy. Since the day, Mr. Murthy served as the CEO of Infosys for the next 21 years until 2002. Then he succeeded as the chairman of the board from 2002 to 2006, after which he became the Chairman of the board and Chief Mentor until his retirement from the company in August 2011. He has not only served as a director on the boards of DBS Bank, Unilever, ICICI and NDTV but has also been an active member of the advisory boards and councils of several educational and philanthropic institutions of the likes of Cornell University, INSEAD, ESSEC, Ford Foundation, and the UN Foundation. He has been the revered trustee of the Infosys Prize, a trustee of the Institute for Advanced Study in Princeton, and a trustee of the Rhodes Trust. On 1st of June, 2013, Mr. Murthy once again returned to Infosys as the Executive Chairman and Additional Director. However, he later stepped down from the position on June 14. He would continue to be Non-Executive chairman until 10 October and on 11 October he would be receiving the designation of Chairman Emeritus.
Mr. Murthy’s ideologies have always been to uplift the nation and humanity. His business has been based on a giving back policy since the beginning. His wife, Sudha Murthy, has been an active social worker and author and has been continuing to do philanthropic works through the Infosys Foundation. Murthy has two children, Rohan Murty and a daughter Akshata Murthy. While the son joined Infosys as an executive assistant to his father on 1 June 2013 and stepped down on 14th June, the daughter is married to Rishi Sunak, the UK’s Chancellor of the Exchequer and Conservative MP for Richmond (Yorks).
Beginning from the foremost Padma Shri and Padma Vibhushan, he has garnered awards of the likes of 2014 CIF Chanchlani Global Indian Award, 25 Greatest Global Indian Living Legends award, Sayaji Ratna Award, Philanthropist of the Year award, Hoover Medal from the American Society of Mechanical Engineers, NDTV Indian of the Year award, IEEE Honorary Membership, Woodrow Wilson Award for Corporate Citizenship, Officer of the Legion of Honor by the Government of France, Honorary Commander of the Order of the British Empire (CBE) from the Government of United Kingdom, IEEE Ernst Weber Engineering Leadership Recognition, and Ernst & Young World Entrepreneur Of The Year award.
Today, when the nation is undergoing a critical situation and economy is suffering, Industrialist Murthy viewed that around 190 million Indians are employed either in the unorganised sector or are self-employed, and a significant part of this population is likely to have lost its livelihood due to the lockdown. More will lose their livelihoods “if this continues for long”.
He further opined,
“In such a complex situation, the best thing we should do is to assume the new normal. Live with the coronavirus, we should start what we were doing before corona. We should protect the most vulnerable”.
Murthy, among the founders of the National Association of Software and Services Companies (Nasscom), called on the software lobby group to conduct a controlled experiment through its members to get people to office by following safety protocols and share the data with the government. He suggested of applying instead of one shift to make it three shifts, so that people are dispersed and follow social distancing.
Murthy welcomes DATA-DRIVEN APPROACH to the experiment, using mathematical modelling and statistical analysis, and providing inputs to the government so it can take decisions based on data and “not emotions”.
Highlighting that there are opportunities for the Indian IT sector due to the pandemic, Murthy said companies globally would look to cut costs and invest in technology, and domestic companies should work hard to deliver services and grow their business.
Narayan Murthy the billionaire gifted with high intelligence is indeed on his way to redefine Business approaches so that the Nation can cope up with the loss and gain normalcy soon surviving and fighting with corona virus.
Beginup wishes all the very best to his future endeavours with the hope of welcoming a change on the path guided by him.