Azim Premji is the name that inspires awe and admiration. The leader is widely respected around the globe for his achievements and humanitarian contributions.
The Wipro Chairman, Azim Premji has decided to step down in July. He has spent over five decades at Wipro and made it a global powerhouse in IT. Wipro is easily one of the largest technology companies not just in India but across the world. It has over 171,000 employees located around the world and headquartered at Bangalore, India.
The 74-year old Premji is the second richest person in India and has a net worth of US $21.5 billion. He has taken the giving pledge where he will be donating more than 50% of his wealth. Known for his modest, down to earth living style, high values and great leadership, Azim Premji’s journey has been enthralling.
He joined his family business at the age of 21, when his father passed away. He took over the reigns of the company at an early stage and guided Wipro to what it is today. Here’s a look at his remarkable feats.
1. The Foundation
Wipro was founded in 1945 by MH Premji, Azim Premji’s father. Wipro started in Amalner, a small town in Maharashtra. The company was a manufacturer of vegetable and refined oils under the name of Sunflower. Kisan and Camel were the other popular trade names in early days of Wipro. The company was then called Western Indian Vegetable Products.
MH Premji passed away in 1966, it was then Azim Premji was forced to return to India from the Stanford University. He took charge of the company and diversified its offerings. The company offered toiletries, soaps, lighting products and hydraulic cylinders then.
2. Rebranding the Family Business
Premji continued to infuse his energy into the company his father founded. He rebranded the business in 1977 and the company was now called Wipro Products Limited.
The young Premji pacified the doubts and concerns of the shareholders with his performance. In the initial days, some of the shareholders openly expressed concerns about the Premji’s leadership capabilities, but he took it in a positive spirit and continued his journey.
Azim Premji once remarked, “Essentially leadership begins from within. It is a small voice that tells you where to go when you feel lost. If you believe in that voice, you believe in yourself.”
3. Foray into Technology Industry
Azim Premji was a visionary who was able to see things beyond what others could imagine. In 1979, India ousted Coca-Cola and IBM to leave the country. It opened a gap in the technology industry. Azim Premji was able to see the gap and took it as a challenge.
He made great efforts and made Wipro into a technology company. By 1980, Wipro was manufacturing minicomputers in collaboration with an American company. Wipro was still creating its other products like soaps, cooking oil, toiletries etc.
The swift entry into the technology industry at the right time gave Wipro a great competitive advantage. The far sighted and visionary approach of Azim Premji made a huge difference.
4. Expansion & Growth
Once Wipro entered the technology industry, it started to expand rapidly. It had found a niche. The 1980s and 90s saw Wipro’s rise and it positioned itself among the leading IT companies.
In 1988, Wipro had established itself in the technology industry and entered into a partnership with General Electric for manufacturing as well as sales and service of diagnostic & imaging equipments.
5. The Birth Of Lighting
In 1992, Wipro extended its expansion streak. The company started its journey into the retail market with Wipro Lighting. The company launched LED lighting solutions that were innovative and designed with excellence.
The company acquired corporate clients and even homespaces. Wipro offered the first LED lighting solutions in India. The company launched LEDs with longevity, low maintenance and efficient lighting solutions to capture the consumer market, offices, banks and retail outlets etc.
“Excellence is a great starting point for any new organisation but also an unending journey.”
Azim Premji
6. A Pioneer
Premji ensured that the quest for excellence and innovation was bright at Wipro. It emerged as a pioneer among its peers by the sheer audacity of its ambitions.
Wipro remained ahead of the rest by launching a range of personal computers under the brand of Wipro SuperGenius range.
Premji also managed to collaborate with KPN (Royal Dutch Telecom) to form joint venture for providing internet services in India.
The company exported software products and services to its customers abroad since its early days. Wipro was the first Indian software company to get ISO certification.
7. The World Stage
Wipro continued to differentiate, innovate and command attention at the global stage. Wipro was listed in NYSE in the year 2000. They launched the BPO business in the year 2002.
The software services export unit was now attracting global players like Intel to Wipro. The company partnered with Intel in 2004. Premji managed to sign a big deal with global defense and aerospace giant Lockheed Martin.
Wipro also became a billion dollar software company in 2004. A feat that was achieved by only a handful of companies in the world at the time.
8. Software & IT Giant
In 2013, Wipro demerges itself into a separate company to handle its diversified businesses, called Wipro Enterprises Ltd.
Wipro was now focused exclusively in IT & software business. The company generates a revenue of over US $8 billion and among the leading technology companies in the world.
Azim Premji has been at the helm of affairs and made Wipro into the company that it is. He remains one of India’s most inspirational business leaders and a recipient of several honors. In 2011, he was awarded Padma Vibhushan, the second highest civilian award by the Government of India.
Premji’s legacy, philanthropic work and iconic leadership will continue to inspire people all around the world.
Azim Premji summarised his life lessons by quoting, “God always gives the very best to those who leave the choice to Him.”
