UNIT-3 CONTINUOUS TRASFORMATION

-AZIM PREMJI

Introduction of the Author :

Azim Premji, Indian business entrepreneur who served as chairman of Wipro Limited.

 Azim Hashim Premji (born 24 July 1945) is an Indian business tycoon, investor, engineer, and philanthropist, who
was the chairman of Wipro Limited. Premji remains a non-executive member of the board and founder chairman. He
is informally known as the Czar of the Indian IT Industry. He was responsible for guiding Wipro through four
decades of diversification and growth, to finally emerge as one of the global leaders in the software industry. In 2010,
he was voted among the 20 most powerful men in the world by Asiaweek.
 He has twice been listed among the 100 most influential people by TIME Magazine, once in 2004 and more recently
in 2011. He was named the nineteenth richest person in India with an estimated net worth of US Dollar 6.5 billion
according to the India's Richest 2019 list by Forbes. In 2013, he agreed to give away at least half of his wealth by
signing The Giving Pledge.
 Premji started with a Dollar 2.2 billion donation to the Azim Premji Foundation, focused on education in India.
Wipro boss Azim Premji is known for his amazing concentration and focus. His determination and steely resolve is
hidden behind his soft demeanour. It's only when he chooses to reveal the real Premji that people realise the secret of his
success.Accepting The ET Award For Businessperson Of The Year, Mr Premji revealed some of the secrets of creating
a billion-dollar company and leading more than 28,000 Wiproites.

Questions andAnswers

1Q) What accroding to Premji is a trait that successful people share?

ANS) Azim Premji’s Ten Golden Rules for a Successful Entrepreneur:

1. Dare to Dream:
People wonder if having unrealistic dreams is foolish. My reply: dreams can never be realistic or safe. If they were, they

would not be dreams. But one must have strategies to execute dreams and slog to transform them into reality.

2. Set Clear Goals:

Define what you stand for as early as possible and do not compromise for any reason. You can’t enjoy the fruits of

success if you have to argue with your own conscience.

3. Never Loose Your Zest and Curiosity for Learning:

I personally spend ten hours a week on reading, or I find myself quickly outdated.

4. Strive for Excellence:

In the world of tomorrow, and with globalization, just being good is not good enough. One needs to excel in whatever

one does.

5. Build Self- Confidence:

Remember, no one can make you feel inferior without your consent.

6. Learn to Work in Teams:

The challenges ahead are so complex that no individual will be able to face them alone. Team work results in effort and,

in turn, more and better results.

7. Take Care of Yourself:

The stress a young person faces today while beginning his career is the same as what the last generation faced at the time

of retirement. Along with alternates, physical fitness is also important. I jog daily.

8. Persevere:
It can make miracles happen.

9. Have a Broader Social Vision:

While earning is important, we must use the same for the larger good of the society.
10. Never Let Success Go to Your Head:
For whatever we achieve is with the help of other factors and people outside us. The moment we become ignorant, we

become vulnerable to making bad judgments.

(Extracts from a Convocation Address by Azim Premji at IIT, Madras, on July 27, 2001).

Essential qualities of a successful entrepreneur:

1. Spirit of challenge.

2. Sense of conviction.

3. Resourcefulness.

4. Ethos of persistence.

5. Ability to manage failure.

6. Problem solving approach.

7. Ability to spot and leverage opportunity.

8. Building core competence and excellence.

9. Uncompromising work ethic.

10. Building a strong organizational DNA through differentiation.

2Q)What examples does Premji provide of the importance of pairing dreams with perseverance ?
ANS ) Stay on course even if you stumble.
When everything seems to go wrong, either you can give up or you can let misfortune transform you into something
stronger. The difference between great achievement and mediocrity is not extraordinary talent or intelligence, but
perseverance. In fact, dreams and perseverance make a winning combination. In 1972, a chartered plane, carrying a
Rugby team crashed in the Andes. After a weeklong futile search, the rescue team gave up thinking that all of them must
be dead. The passengers after waiting for many days to be rescued decided to help themselves since apparently nobody
else was going to do it. Two of them volunteered to cross the mountains by foot to reach the green valleys of Chile and
bring back help. It was a walk of more than 50 miles. But they did it and came back to rescue their fellow passengers
who managed to survive in the mountain 70 days after the crash. The core of heroism lies in the ability to walk that extra
mile. As long as you can do that, you will never be defeated.

3Q) Why is it important to look forward rather than at past ?

ANS)Think about what you will take on next rather than about what you may be letting go. Too many people are so
enamoured by the legacy of success in their current roles that they are afraid to look further. This can lead to inertia. If
we linger too long on past success, we will miss out on the opportunities that lie ahead of us. We must learn to look at
change as an exciting adventure rather than a disruption. New avenues for learning always lie just beyond the shade of
our comfort zone. Do wwe have to shed What is old to become new? This choice is often also thought of as choosing
between the past and the future.It is far more efficient if we are both old and new .We must reatain the strenght and
learnings of the past,as we embrace the future by developing new capabilities and innovative approaches.

4Q)How can feed back change us? Give examples from the text and your own life.
ANS)Always welcome feedback even if it comes in the guise of criticism. I remember the story of a boy who dreamt of
becoming an artist but was frustrated because whenever he showed his painting, the teacher would look at it with a
frown and find some fault with it. The student improved on his work continuously and he thought he would one day hear
a word of appreciation from his teacher. But it never happened. Finally, in disgust, he bought a painting from an
accomplished artist, touched it up with fresh paint and showed it to his teacher. To his amazement, the teacher smiled
and said, “now this is really good work. Congratulations.” Feeling guilty, the student confessed that it was not really his
painting. The teacher looked at him silently and then said, “Till now, I thought you wanted to paint a great picture. But I
realize now that you do not want any more corrections, which means that the last painting you did was the best you will
ever do. Remember you have set these limits to your talent, not me.” Criticism may actually be an expression of faith in
us rather than a put down. We must learn to take it constructively because it will show us what more we can learn.

5Q) How is winning defined by premji ? Do you agree with the definition?
According to Premji dreams and perseverance make a winning combination. yes, I agree with Premji's definition.As
he explained -When everything seems to go wrong, you can either give up or you can let misfortune transform you into
something stronger. The difference between great achievement and mediocrity is not extraordinary talent or intelligence,
but perseverance. And also he expiained -always play to win. Winning is not about making the other person lose. It is
about stretching yourself to your own limits. Once so stretched, you will realize the true extent of your potential.
Ultimately, transformation is about reaching and utilizing not only your potential but those of others who work with you.