The renaissance man

He is the man behind one of the biggest IT ventures in India, a living legend and an exemplary leader. He is an epitome of the fact that honesty, transparency and moral integrity can actually go hand in hand with business acumen. Here’s Narayana Murthy, non-executive chairman and chief mentor, Infosys Technologies Ltd talking about the changing face of India Inc, the significance of running a legal/ethical business to ensure success and the qualities a great leader should be equipped with to keep his/her workforce engaged.

What role has Infosys played towards changing the face of India’s economy?
Infosys was the first company to focus on creating a global brand for India. 95-98 per cent of our revenues were coming from outside. We were determined to create an image for India. And that’s how we went with the finest principles of corporate governance. We demonstrated that Indian businesses could be run legally and ethically. We demonstrated that it is possible to benchmark with the global best from India. Ex prime minister Atal Bihari Vajpayee once said that earlier, foreigners would visit India and enjoy viewing the Taj Mahal and temples. They were not keen on Indian people settling down abroad. But today, they are asking for software engineers from India to work for them. So, in some sense, Infosys has played a critical role in making this happen. And it is nice to be a part of an effort that has transformed images across the globe. You feel a sense of happiness, a sense of joy, a sense of pride and a sense of gratefulness that we have been able to help India build its image outside and even in India.
You introduced the Employee Stock Option Plan (ESOP). Can you elaborate a bit on that?
You know, we have always felt that a leader cannot operate in a vacuum. For a leader to succeed, you need to have thousands of people who will work with him/her. These people are adding value towards creating a wonderful company and it is only fair that we share our wealth with these people too. That’s why we created this stock option plan. We made sure that whether he/she is a janitor or a senior vice president, everybody who was the best, had an opportunity to be eligible for this stock option. We rewarded merit and rewarded longevity, attitude and loyalty too.
How would you describe a great leader?
A great leader is one who is not only good in creating a vision, creating the big picture, but also ensuring that he goes into the nitty-gritty, into the details of making sure that the vision is actually translated into reality through excellence of execution. In other words, great leaders have great vision, great imagination, great ideas, but they also implement those ideas through hard work, commitment and flawless execution. In doing so, they motivate thousands of people.
How have things changed today since the time you started?
I think for the first time, there is tremendous respect for business people due to Infosys. Today, it is possible for a businessman to be invited to the Prime Minister’s advisory council. Today, it is possible for a businessman to pick up the phone and talk to a minister. It is possible for a businessman to invite the President of India to his company. There was a time where businessmen were crawling, when politicians and bureaucrats wanted them to bend. But today, bureaucrats and politicians stand up and respect business people.
What were the challenges you faced during your entire journey and how did you overcome them?
We faced a lot of difficulties in the beginning, because at that time, the country was a closed economy. It took two-three years and about 50 visits to Delhi to get a license to import a computer of 50,000 dollars. It would take ten days to get foreign exchange to travel abroad even for a day. It took two-three years to get a telephone connection. We went through extreme difficulties. But all of that changed, thanks to Dr Manmohan Singh and Late Narasimha Rao and their progressive strategies. It was the economic reforms of 1991 that made all this progress possible.
What advice would you give to people who aspire to be like you?
It is extremely important to not only have a great idea, but also ensure that all the effort is invested to ensure that the idea is executed in the right manner. Hence, future entrepreneurs must, besides having a great idea, also learn to implement it well. Secondly, I think it is important to pursue your business legally and ethically. Also, I feel that it is important to benchmark on a global scale. Future entrepreneurs have to follow the finest principles of
corporate governance. They have to make sure that the value system is adhered to and they must live by the principle that the softest pillow is a clear conscience. Finally, I believe that no company can succeed unless you have good people. We have to create an environment of openness, discussion, debate, pluralism and meritocracy.