NR Narayana Murthy, who steps down as Infosys chairman on August 20, is a
role model for not just what he achieved but also how he did it. Here
are 30 lessons from Murthy, one for each year he spent at company.
1-Seize Your Gandhi Moment
Murthy, a self
proclaimed socialist in the mid '70s was jailed for 72 hours in
Bulgaria. The experience taught him that entrepreneurship and job
creation is the way to alleviate poverty.
2-You might fail, but get started
Learn
from mistakes and move on. In 1976, Murthy founded Softronics, a
company that lasted a year and a half. When he realised that his first
venture wasn't taking off, he moved on.
3-Think Big. Don't Hesitate to Start Small
In
1981, a determined Murthy started Infosys with Rs 10,000 he borrowed
from his wife. In few years, Infosys went on to become one of the
largest wealth creators in the country.
4-Cut Yourself a Slice, Not a Large One Always
When
Infosys was set up, Murthy took a pay cut while salaries of other
co-founder's were increased by 10 percent. According to Murthy, a leader
needs to show his or her sacrifice and commitment.
5-Lend a Hand and Throw in a Foot Too
After
Murthy convinced seven of his colleagues, there was a problem. Nandan's
future inlaws were not sure about him. Murthy met Nandan's uncle and
convinced him.
6-Own Up, and Then Clean Up
In
the '80s Infosys developed an application for a German client. Murthy
noticed a single character error and informed the client immediately.
7-Trust in God, But Verify with Data
In
God we trust, the rest must come with data, is perhaps Murthy's
favourite statement. When confronted with difficult decisions, he tends
to rely on data.
8-Keep the Faith
Infosys
almost wound up in 1990. Murthy did not want to sell the company. He
asked co-founders if they wanted out and offered to buy their shares.
All of them stuck together.
9-Get Involved
Infosys
won a contract from Reebok in the early '90s. Seeing the founders
involvement, the software, was nick named 'Dinesh, Murthy and Prahlad.'
Infy veterans still recall those days.
10-Sharing is Caring
After
the IPO, Infosys decided to share a portion of its equity with
employees. This helped them retain talent and gave employees a sense of
ownership. Murthy is proud of having given away stocks worth over Rs
50,000 crore to employees.
11-Treat your People Good, but Your Best Better
Murthy
always had a thing for good performers. And he rewarded them well. When
Infosys decided to give its employees stock options, Murthy insisted
that some shares be given to good performers through the 'Chairman's
quota.'
12-Hire a Good Accountant, Even if he is Argumentative
A
young, argumentative Indian, was asking too many questions at an annual
general body meeting of Infosys. More impressed than irritated, he
hired Mohandas Pai, who went on to help Infosys list on Nasdaq.
13-When in Doubt, Disclose
Keep
your books clean and leave the cooking to the chef. Murthy's philosophy
about being open and transparent has given the company a lot of
credibility. He often says, "When in doubt, please disclose."
14-Leave the Family Out
Murthy
told his wife that only one of them could be with the company. Murthy,
along with other founders, said that none of their children would work
for Infosys. This left no room for nepotism at Infosys.
15-Don't be a Pushover
In
1994, when General Electric wanted to re-negotiate rates, Murthy said
no to selling services any cheaper. This helped Infosys not to be overly
dependent on any one client.
16-Make hay While the Sun Shines
In
late 90's, India's tech companies made use of the Y2K opportunity to
make themselves known in the global market. For Infosys, it was a great
opportunity to enter into long-term relationships with their customers.
17-Brand-aid First, Get Clinical
When
the sexual harassment case against Infosys' top sales guy Phaneesh
Murthy threatened to tarnish the company's brand, Murthy decided to
quickly react. He let go of Phaneesh, and settled the case out of court
despite Phaneesh wanting to fight it out.
18-Mind your Business, you'll See Things Coming
Murthy
carries and updates a mental model of Infosys' business all the time.
According to him, every leader must have a model, consisting of six to
seven parameters that might affect business.
19-Keep it Simple, Not Silly
Keep
your life simple and straight. That way, you get to work more and worry
less. Murthy is known to be frugal with money. Despite being one of the
richest Indians, he leads a simple life. However, he does not cut
corners on buying books or brushing up on literature.
20-Founders Keepers, but Not Forever
Murthy's
decision to not allow founders to continue with the company after the
age of 65 set another standard for the company. This way, younger
leaders at Infosys had a greater chance at the top positions.
21-Talent Spotting and Division of Labour
Murthy
is known to have an eye for talent and a talent for dividing labour.
Nandan was given sales responsibilities while Kris and Shibu did the
tech stuff. N S Raghavan was asked to handle people and Dinesh was
assigned quality.
22-Hold on to Your People but don't Cling
Letting
go is never easy but its not good to cling on to your colleagues
either. Amongst the founders, Ashok Arora, Nandan Nilekani and K Dinesh
have quit Infosys. Infy veteran Mohandas Pai has also left Infosys.
23-Give, it only gets you more
In
2010, the Murthy's donated $ 5.2 million USD to Harvard University
Press for a project that aims to make India's classical heritage
available for generations to come. He is also supporter of the Akshaya
Patra Foundation.
24-Do it First and Do it Right
Infosys
did many things first. And most things right. For example, it was the
first Indian company to list on Nasdaq. It was the first Indian company
to make it to the Nasdaq 100 list and it was the first Indian company to
attain the highest level of quality certification.
25-Perils of Being a Poster Child
Being
the poster child of Indian IT industry, Infosys and Murthy have been at
the receiving end of many criticisms. The company has been accused of
taking away American jobs and been called a "chop shop."
26-Get Rich. Honestly
Rich
businesses were considered to be dirty in the days when the country had
a socialist bent. Infy was a company which got rid of this sentiment.
Murthy, with his 'no compromise' policy on greasing palms and doing
ethical business, set the standards.
27-Do Not be Afraid to Court Controversy
Ever
since Infosys became a success, Murthy was under constant public glare.
This did not deter the straight talking Murthy from courting
controversy or voicing his opinions openly.
28-Invest in Learning
With
big investments in training, development and building facilities,
India's IT bell-weather has always been keen on grooming the younger
generation. Murthy drove the culture of learning in the company in its
early days.
29-Never Lose the Common Touch
The
big man of Indian IT kept his personal life simple. He lives in a
simple, middle class house and flies economy till date. Murthy has
always been accessible to people around him.
30-Do Good, Look Good
Murthy
knew the importance of creating an image for Infosys. He invested in
creating a sprawling, world class campuses early on, bigger than any
other company's headquarters in the country, that would make his global
customers feel like they were in a global office.
Source :
TECHGIG.com