Indian Management Thoughts & Practices

Smt. K. G. Mittal College of Commerce & Management Studies

Indian Management Thoughts & Practices

Wipro Ltd. Prepared by: Navin Tiwari 35

Submitted To: Prof Geeta Raja

Indian Management Thoughts & Practices

Abstract
Barack Obama-President of United States on his visit to India stated on 8th Nov 2010For in Asia and around the world, India is not simply emerging; India has already emergedMy confidence in our shared future is grounded in my respect for India's treasured past-a civilization that has been shaping the world for thousands of years. Indians unlocked the intricacies of the human body and the vastness of our universe and it is no exaggeration to say that our information age is rooted in Indian innovations-including the number zero. India not only opened our minds, she expanded our moral imagination. With religious texts that still summon the faithful to lives of dignity and discipline. With poets who imagined a future; where the mind is without fear and the head is held high; and with a man whose message of love and justice endures-the Father of your Nation, Mahatma Gandhi. For me and Michelle, this visit has therefore held special meaning. Throughout my life, including my work as a young man on behalf of the urban poor, I have always found inspiration in the life of Gandhiji and in his simple and profound lesson to be the change we seek in the world and just as he summoned Indians to seek their destiny, he influenced champions of equality in my own country, including a young Martin Luther King. The above thoughts are of the most powerful man on this earth. They give us gratuitous proud of possessing timeless management theories and ideas, direct us to revisit the Indian treasure, motivate us to follow our theories, actuate us to understand its depth and inspire us to apply them in our life. 'Indian Management' has travelled a long journey from 'neglect to acceptance to appreciation'. This journey was made smooth through factors like innovations by Indian companies, success of grass root organizations such as AMUL, SEWA, Lizzat Papad etc , world-wide impression created by organizations like Tata, Reliance, Infosys, Wipro, Airtel etc, and all this is embellished by our management gurus and thinkers like Profs. S.K.Chakravorty, N. S. Ramaswamy, Subhash Sharma, M. B. Athreya, K B Akhilesh, Rajen Gupta, B. R. Virmani, Sangeetha Menon, Sunita Singh Sengupta, and others who silently but profoundly created intellectual foundations for Indian Management. Needless to mention that the journey is now being taken forward by several research centres in India. The exponentially growing research is proving that era of Indian management is arriving.

Indian Management Thoughts & Practices

Out of the few outputs of the research happening over the period of time one aspect which has pulled our attention is that Indian Management is primarily value based management which works towards larger benefit and aims at sustainable and holistic growth of the organizations, society and nation. After the recent meltdown, once more the idea of value based management is haunting everyone's mind. The life of mahapurush, their writings, Indian ethos, Indian corporate experiences all are 'mines' for new management mantras from India.

Indian Management Thoughts & Practices

WIPRO (fact sheet)

Wipro is a global IT major which offers services in IT services and consulting. Its services span financial services, retail, transportation, manufacturing, healthcare services, energy and utilities, technology, telecom and media. Wipro drive, define and design Consulting, Business Process Outsourcing, Business Technology Services, Enterprise Application Services, Infrastructure Management, Testing, Product Engineering, Engineering Design and Product Support. Management team: Azim H. Premji, Chairman, Wipro Limited TK Kurien, CEO, IT Business & Executive Director, Wipro Limited Suresh C. Senapaty, Executive Director & Chief Finance Officer, Wipro Limited Net revenues for the year ended March 31, 2011 -- $6.98 billion Over 120,000 employees across 70 nationalities 72 plus global delivery centers and 50 plus industry-specific 'Centers of Excellence' in over 54 countries

Achievements @ Wipro: The pioneers in applying Lean Manufacturing techniques to IT services - The Wipro Way Wipro is the world's first PCMM Level 5 software company Among the top four offshore BPO service providers in the world and addressing COO requirements Wipro is a strategic partner to 5 of the top 10 most innovative companies in the world One of the most preferred employers for top class talent (ranked among top 5 in a Business Today 2011 survey) Wipro is the world's largest independent R&D services provider No. 2 in Indian Domestic IT Services Provider Market Topped the rankings of the MSCI Emerging Markets Index based on Oekom AG's sustainability ratings of companies No. 1 Ranking in the Carbon Disclosure Leadership Index (India) Wipro Timeline: Incorporated in December 1945; Company set up for making hydrogenated vegetable oil IPO for capital in February 1946; Listed on the New York Stock Exchange (NYSE:WIT) in October 2000 Predominantly in commodity business with minimal backward integration till 1966 First product diversification Toilet Soaps Foray into IT Products business 1982 Forayed into 3rd party R&D services addressing CTO requirements- 1990 Entered into IT services addressing CIO requirements - 1993 Launched Eco Energy business in 2008 About Wipro

Indian Management Thoughts & Practices

In the year of 1945, in preindependent India, a vision was born, which would eventually stand out as a brand name synonymous with innovation and integrity. Starting off with consumer products business, Wipro then diversified into newer areas including IT hardware and IT services. Such has been the dynamic power of the organization that over the past 50 years, Wipro has evolved into a leading global IT company, a company which has pioneered many an innovation in the IT services, BPO and R&D services space. Headquartered at Bangalore, India, Wipro implement the philosophy of 'Applying Thought', thereby helping clients to "Do Business Better". Their path breaking innovations and ideas have culminated into the `Wipro Way' a process which directly impacts customer benefits by improving time-to-market, enhancing predictability and reliability, and cutting costs. Wipro's Global IT business caters to more than 150 global Fortune 500 clients across financial services, retail, transportation, manufacturing, healthcare services, energy and utilities, technology, telecom and media. They employ over 120,000 people from over 70 nationalities and 72 plus global delivery centers across 5 continents.

Wipro, one of the world's most trusted brands, is a name with a long history that powers itself into new ventures. This trust extends to a series of products, services and solutions that cover diverse businesses - from consumer care to cutting-edge information technology. Over the years, their identity has evolved with their business, adapting to changing global dynamics. Here's a snapshot of our journey to date:

Inception Wipro was established in 1945 as a vegetable oil manufacturer in Amalner, Maharashtra. The company at that time was known as Western India Products Limited. Its main area of business was the production of Sunflower Vanaspati Oil, and later on, soaps and other consumer care products.

Evolution During the late 1970s and 1980s, Wipro began to venture into the fledgling IT industry in India. It was the first to market indigenous Personal Computers in 1985.

Indian Management Thoughts & Practices

This phase saw Wipro expand its horizons rapidly and take advantage of the opportunities in the technology space. It was during 1990s that Wipro took its hardware expertise into the services arena, and was among the pioneers in developing the ODC(Offshore Development Center) concept (popularly known as the Global Delivery Model or GDM). Wipro leveraged this initial success with telecom partners to take our services offering global and provide R&D services (product engineering services) to clients. Today, Wipro is the world's largest outsourced R&D services provider, a business which continues to remain a key differentiator for our communication, manufacturing and technology businesses. The late 1990s and early 2000s was the time when industry and the way business was conducted changed completely. Globalization was the buzzword while the explosion in telecommunications, followed by the Internet boom and bust, meant that the world was increasingly becoming interconnected. Enterprises hopped onto the global sourcing bandwagon, and soon GDM took on an overarching scale and scope for providers like Wipro. Since then, we have transformed into one of the world's leading software and outsourcing service providers.

Consolidation The 2000s' decade saw Wipro focus on the IT services and BPO business, which today has become the company's primary growth driver, having grown from negligible revenues to about 70% of Wipro's IT revenues, a testimony to the company's ability to scale new businesses. Currently, Wipro employs 120,000 employees (March 31, 2011). The company recorded total revenue of $6.98 billion (IT revenues stood at $ 5.2 billion) for the year ended March 31, 2011 while net income for the same year was $1.19 billion. We believe in sustained growth by being a partner to industry leaders, attracting the best leaders, offering industry-leading expertise and continue our steadfast global presence.

The Future Looking into the future, what Wipro sees is a new world. It is one where paucity of resources calls for optimized utilization be it talent, capital or raw materials. It is also a world which is networked and connected and that mandates business model transformation. Both these worlds will be driven by an explosion in real-time information and analysis.

Brand Wipro

Indian Management Thoughts & Practices

The present Wipro Identity was redefined in 1998. This brand identity represents the diverse businesses and corporate values associated with Wipro Limited. It is composed of three mutually-dependant elements:

Rainbow Flower 'Wipro' (written in black) 'Applying Thought' (written in black)

Representation

Innovative Large and diversified Multi-faceted Vibrant, and, Youthful

Futuristic Innovative Intellectual Mature Powerful

Colour significance

The colors used in the Wipro brand identity have particular significance:

Red: Green: Yellow: Violet: Blue:

Life, Dynamism, Auspiciousness Nature, Freshness, Growth, Prosperity, Youth Sun, Warmth, Vitality, Aspiration Intelligence, Innovation, Shrewdness, Mystery Sky, Sea, Transparency, Nature

Accordingly, the Rainbow Flower represents: RATIONAL EMOTIONAL ASPECTS ASPECTS Advanced Cheerfulne

Similarly, our tagline, 'Applying Thought', represents: RATIONAL EMOTIONAL ASPECTS ASPECTS Commitment Adaptability

Indian Management Thoughts & Practices

Thought Aspiration Broad Focus Diversifica tion Energy Expertise Flexibility Individualit y Innovation Interaction Modern Technolog y Power Precision Progress Reliability Variety Vastness Versatility

ss Color Contrast Freshness Humane Sense Life Mother Nature Positivity Proximity Vibrancy Vivacity Youthfulne ss

Employee Qualification and Skill Evolution Feedback Acceptance Dynamism Hard Work Innovation Integrity Market Anticipation Practicality Product Diversity Progress Learning and Thought Processes Research and Development Result Orientation ScientificallyTested Quality Assurance Translation and Implementatio n of Ideas

Creativity Credibility Customer Focus and Care Idea Generation Inspiration Partnership Personalizati on User Friendliness

Sustainability at Wipro is all about good citizenship

Indian Management Thoughts & Practices

It stems from the belief that corporations are socio-economic citizens and that their objectives have to be congruent with society's goals. Today, they wield significant capacity to influence social issues, i.e. power to do good. This is a responsibility and must manifest in thoughtful and deliberate set of initiatives, not in charity. These must reflect the same level of rigor & strategic thinking as in business initiatives. Wipro believes it must try to, and can make (some) lasting impact, towards creating a just, equitable, humane & sustainable society. This is reason enough to act. Purpose: Provide leadership in thought & action on key societal issues Need to respond to immediate issues of current generation Need to work towards building a good society for future generations

Wipro Cares

Indian Management Thoughts & Practices

This initiative engages with communities in proximate locations. The primary objectives of Wipro Cares is to support the developmental needs of marginalized communities in cities and towns where Wipro has a large presence; rehabilitate communities affected by natural calamities and offer Wipro employees the opportunity to engage meaningfully with local communities. They have four core areas of work -- education, health care, environment and disaster rehabilitation. Wipro Cares is currently engaged in 15 projects across India. Employee engagement is an integral part of Wipro Cares; all projects are implemented with the help of volunteers across various locations in India. Wipro Applying Thought in School This is an initiative to help in societal change and development. The intent of this initiative is to improve the quality of education in schools. Schools across the country tend to be regimented and homogenous, with no space for individual interpretations or conceptual learning - memorizing is learning. Wipro also believe in a social vision of democracy where each citizen is not only capable in an individual sense but also sees the ethic of equity, the essentiality of diversity, the ethos of justice, and is thus driven by social sensitivity. Schools have to be spaces that nurture these principles, capabilities and values. Wipro work towards bringing about this change through partnerships with civil society organizations. This thought process drives our 3-pronged strategy Work on the ground in school reform with all types of schools that define mainstream schooling through partnerships Building capacity in social organizations for education reform Advocacy and sharing of experiences and findings to influence public opinion

Over the years Wipro have built a partner network of 30 of Indias foremost educational organizations Helped build and grow social organizations (supporting 12 partners in organization development through project support) Worked with around 2000 schools and 10,500 educators across 17 states reaching around 800,000 students Supported 10 people on Wipro Education Fellowship since 2007 Currently, they are engaged in projects with around 700 schools across the country in partnership with 22 partners

Abstract:- Business Ethics - The Wipro way

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Indian Management Thoughts & Practices

Business ethics - The Wipro way. The article is in large part based on a book by Steve Hamm. Indias success in the west, especially in the field of outsourcing, is history now. Several corporate have launched themselves on amalgamations and merger route, a few of them acquiring companies abroad. In the IT sector the leader in this enterprise is Wipro. Wipro stands for Western India vegetable products, the forerunner of the present one owned by Azim Premji. Premji is a billionaire now, perhaps the first one, till he was overtaken by the Ambani brothers after the recent stock market surge. Wipro has metamorphosed into a polymath. Yet, Premji has his ears to the ground and is highly accessible to his employees as well as business partners. Where lies Wipros uniqueness? Early on, Premji opted for business ethics, both internally as well as externally. The latter has cost him dear occasionally. Wipro is a class by itself where service is concerned. A top executive of General Motors corporation offered to give more software programming projects to Wipro but he laid down a condition. Until I can see you from my office window, I wont know if youre committed. There were constraints in setting up office in the US because of 9/11 attack. So the Wipro man set up an office in Canada, right across the Detroit river, from GMs headquarters.They impressed me, observed the GM top brass. Wipros foray into medical systems gained for the company lot of credibility. we are able to evaluate opportunities at the right time and put together an act to make a commercial success of it, says Premji. Where business ethics is concerned, the company is strict. Dos and donts are posted on the values page of the employee web site. Keeping people waiting for appointments is a no and criticizing subordinates is a no, no., especially in public. Among the 24 core competencies identified by the company are initiative, persuasiveness, problem solving and customer service orientation. Whistleblowers are encouraged and confidentiality is assured. the investigation is done by ombudspersons.

The Wipro way is best described by Premji: we are developing cross-synergies, so its not a matter of 1 plus 2 equals 2.Its 1 plus 1 equal more than 3. Premji tolerates dissent and gains from it too. What is the secret of Wipros growth? It is like a submarine with its periscope perpetually up and scanning the horizon. Its on the

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Indian Management Thoughts & Practices

lookout for techniques established by others that it can apply to its work. In its approach to work, it stresses on respect for the individual, employee empowerment, and aspiration for excellence. In sum, Wipro is a symbol of Indian ingenuity and innovation.

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