Mr N R Narayana Murthy, Founder of Infosys addresses students at the 58th Convocation
Summary
TLDRThe speaker reminisces about the transformative power of education and entrepreneurship, drawing from personal experiences and lessons learned as the founder of Infosys. He emphasizes the importance of meritocracy, values, and compassionate capitalism in building a prosperous and equitable society. The speech serves as an inspiration for the graduating class of 2023, urging them to carry forward these ideals for societal betterment and to lead with integrity and innovation.
Takeaways
- 🌟 The speaker emphasizes the beauty of the environment and the intellectual density of the area, hinting at the importance of setting and surroundings in shaping one's aspirations.
- 🏆 Congratulating the graduating class of 2023, the speaker highlights the importance of the skills and values they have acquired, which are essential for transforming the country and the world.
- 📚 The speaker's journey from a lower middle-class background to a compassionate capitalist is outlined, showing how experiences and learning can redefine one's destiny.
- 💡 Three key lessons from the speaker's experiences are identified: the power of entrepreneurship, the beauty of corporate democracy, and the role of compassionate capitalism in nation-building.
- 🚀 The founding of Infosys is described as an experiment based on the speaker's beliefs, aiming to create a company that embodies fairness, justice, and meritocracy.
- 🌱 The speaker's vision for Infosys was to be a professional haven where individuals from all backgrounds could succeed based on competence and values, free from societal injustices.
- 🛠️ The importance of a culture of meritocracy and values in a company's success is underscored, with the reminder that culture is stronger than strategy.
- 💼 Leadership by example is highlighted as a powerful tool, with traits like courage, sacrifice, and transparency being essential for a leader's effectiveness.
- 🤝 The speaker stresses the significance of respect and trust in building long-term relationships with stakeholders, which is crucial for a company's sustainability.
- 💰 The speaker notes that while profit is important, cash flow is the true measure of a company's success, emphasizing the practicality of financial health over perceived success.
- 🌐 Transparency is presented as a counterintuitive competitive advantage, suggesting that honesty and openness in all dealings can enhance a company's reputation and success.
Q & A
What is the significance of the view described in the opening of the transcript?
-The view signifies a place of intellectual density and beauty, possibly an educational institution, which is a setting for the speaker's commencement address and also a place where the speaker started their career.
Who are Alia Bhatt and Arjun Kapoor, and why are they mentioned in the script?
-Alia Bhatt and Arjun Kapoor are Indian film actors who appeared in the movie 'Two States'. They are mentioned as a reference to the movie, which also featured a similar view as described in the commencement speech.
What is the speaker's connection to the institution where the event is taking place?
-The speaker has a deep connection as they started their career at this institution and served as its chairman from 2002 to 2007.
What is the speaker's background and how did it influence their perspective on entrepreneurship?
-The speaker grew up in a large family with limited prospects, influenced by a mindset of limited opportunities due to birth circumstances. Their perspective changed after working in a French company and learning about the power of entrepreneurship, enlightened corporate democracy, and compassionate capitalism.
What were the three important ideas the speaker learned from their experiences in Europe?
-The three ideas were the power of entrepreneurship in a free market, the beauty of an enlightened corporate democracy, and the role of compassionate capitalism in building a prosperous and happy country.
What was the speaker's vision for Infosys when they founded it?
-The speaker's vision for Infosys was to create a company that was professional, for the professional, and by the professional, where success was based on competence and values, and where fairness and justice were the norm.
What does the speaker mean by 'corporate democracy'?
-Corporate democracy refers to a system within a company where decisions are made through a participatory process, often involving stakeholders, and is guided by principles of fairness and transparency.
What is the speaker's definition of success in a company?
-Success, according to the speaker, is not just about profits but also about creating a culture of meritocracy and values, demonstrating leadership by example, and ensuring fairness and justice in all company practices.
How does the speaker emphasize the importance of transparency in a company?
-The speaker states that transparency is a competitive advantage and is essential in all aspects of a company's operations, from governance to transactions, to build trust and respect among stakeholders.
What advice does the speaker give to the graduating students about their future careers?
-The speaker advises the students to uphold the ideals of meritocracy, competence, character, leadership by example, fairness, and transparency in their future careers, and to use these principles as a guide for success.
What is the speaker's hope for the future of India and its corporate leaders?
-The speaker hopes that future corporate leaders, academicians, and entrepreneurs will lead the country by the ideals of meritocracy, fairness, and justice, making India a better place for all.
Outlines
🏛️ Commencement Address and Entrepreneurial Journey
The speaker begins by praising the beauty of the surroundings and the intellectual environment. They reminisce about a similar view from the movie 'Two States' and express confidence in the graduating batch's potential. The speaker thanks the audience for inviting them to the ceremony and congratulates the graduates on their achievements. They reflect on their own career start in 1969 at the same institution and share their experiences that led to the founding of Infosys. The speaker emphasizes the importance of entrepreneurship, corporate democracy, and compassionate capitalism, influenced by their time in France and the writings of various philosophers.
🌏 Transformative Travels and the Birth of Compassionate Capitalism
The speaker narrates their transformative journey across different regions, which shifted their perspective from a confused leftist to a compassionate capitalist. Upon returning to India, they launched Infosys with the intent to create a company that embodies fairness, justice, and meritocracy. The company aimed to be an inclusive environment where individuals from all backgrounds could succeed based on their competence and values. The speaker outlines their vision for Infosys as a reflection of the best of corporate and societal values, emphasizing the importance of creating a just and equitable workplace.
🛠️ Pillars of Infosys: Values, Meritocracy, and Leadership
The speaker outlines the foundational principles that have guided Infosys' growth over the decades. They stress the importance of a culture based on meritocracy and values, the necessity of competence, commitment, and character, and the power of leadership by example. The speaker also discusses the significance of behaving with grace when in positions of power and wealth, and the role of questioning and innovation in driving progress. They highlight the interconnectedness of performance, recognition, respect, and power, as well as the importance of respect in building trust among stakeholders.
💼 Business Philosophy and Ethical Governance
The speaker delves into the business philosophy that has shaped Infosys, discussing the critical role of market access, talent access, and the differentiation of value in products and services. They emphasize the importance of free cash flow as a true measure of success and the competitive advantage of transparency. The speaker also addresses the balance of performance and luck in achieving success, the necessity of fairness in decision-making, and the ethical responsibilities of corporate leaders, particularly in a country with widespread poverty.
🌟 Charge to the Future Generation: Upholding Ideals and Integrity
In the final paragraph, the speaker issues a charge to the graduating students and the audience, urging them to carry forward the ideals discussed. They express hope for India's future led by corporate leaders, academicians, and entrepreneurs who will adhere to these principles. The speaker encourages originality, daring, and unreasonableness in the pursuit of integrity and purpose. They conclude with a powerful message about the importance of leaving the world a better place and the eternal impact of living by these timeless ideals.
Mindmap
Keywords
💡Intellectuals
💡Meritocracy
💡Entrepreneurship
💡Compassionate Capitalism
💡Corporate Democracy
💡Transformation
💡Injustice
💡Transparency
💡Fairness
💡Values
💡Leadership by Example
Highlights
The beauty of the campus with green trees and good architecture, as well as its intellectual density, is highlighted.
Reference to the movie 'Two States' and comparison of the graduating batch of 2023 to Alia Bhatt and Arjun Kapoor.
Congratulates the graduating students and emphasizes their role in transforming the country and the world.
Highlights the importance of the values and skills acquired by students, including analytical thinking, teamwork, and decision-making.
Mentions his return to the institution where he started his career in 1969 and his experience as chairman from 2002 to 2007.
Discusses the inspiration behind starting Infosys and the impact of his family background and early experiences.
Emphasizes the lessons learned from working in a French software company, including the power of entrepreneurship, corporate democracy, and compassionate capitalism.
Describes his transformative journey through Europe, Israel, and West Asia, which shifted his mindset from leftist to compassionate capitalist.
Highlights the 1991 economic reforms in India as a turning point for Infosys and the country.
Expresses his vision for Infosys as a company based on fairness, justice, meritocracy, and professional dignity.
Discusses the cultural and operational principles that made Infosys successful, including transparency, leadership by example, and respect for merit.
Emphasizes the importance of hiring smarter people, fostering innovation, and maintaining humility and grace.
Discusses the significance of prioritizing company interests over personal interests for long-term success.
Stresses that performance leads to recognition, which in turn leads to respect and power, enhancing trust among stakeholders.
Mentions the importance of market access, talent access, and continuous innovation in achieving premium pricing and avoiding commoditization.
Highlights the significance of free cash flow as a measure of a company's success and the value of transparency.
Emphasizes the importance of fairness, listening to all sides, and practicing self-restraint to make capitalism attractive.
Encourages living by timeless ideals and passing them on to future generations for the betterment of society.
Transcripts
well what a beautiful
view this is
green trees in front
unbelievably good architecture on both
sides
and most importantly
probably the country's country's highest
density of intellectuals
what more
what more can anybody ask for it
the last time I saw this wonderful View
was in the movie two states
I Can Tell You Folks
having watched
so many of you pass through this
I am positive
that
batch of 2023
can give
a tough competition to Alia Bhatt and
Urgent Kapoor
chairman
members of the gowning body
director
faculty
staff
students
guests
the graduating students
I thank you for inviting me to be part
of this joyous occasion
congratulations to the graduating
students
on completing this worthy penance
you are now all set to shoulder the
aspirational task of Transforming Our
Country
and the world
with the competence and the values that
you possess
the knowledge wisdom writing skills
modeling analytical thinking Socratic
questioning group discussions teamwork
and decision making skills that you have
acquired here from your Revere teachers
will definitely assist you in your
future
I am happy to come back to your place
where I started my career
well none of you was born it was in
1969.
I learned
much being the chairman of this
venerable Institution
from 2002 to 2007.
today my talk will be very similar to
the one I gave recently on the 40th Year
celebrations of emphasis the company I
founded
the context is different
but the lessons for both the graduating
class here
and the emphasis out there or the same
I have often been asked
why I started emphasis let me answer
that
I grew up in a family of eight children
a mother a father and a grandmother
my father was a school teacher in a
small town
it was drilled into my Ang mind that my
fate would be limited by the
circumstances that I was born into
the India that I experienced in my youth
was a lower middle class Indian
with small hopes and even smaller dreams
I had simply accepted that there would
be a cloth ceiling to most professional
ladders in corporate India of those days
corruption and Connections in government
were common for success in most
businesses then
that retrogressive mindset mind
changed gradually when I started working
in a French real-time software company
in Paris more than 50 years ago
I learned three important ideas
the power of Entrepreneurship in a free
market in creating jobs and prosperity
for the nation
second the beauty of an enlightened
corporate democracy
and the role of compassionate capitalism
in building a prosperous and happy
country
I was also influenced by the writings of
Mahatma Gandhi
Max Weber
France funnel and called
polani
after learning these lessons
I decided to return to my hometown my
soul
traversing
Western and Eastern Europe Israel
and West Asia hitchhiking and spending
just four to five dollars a day
that Journey
irrevocably transformed me from a
confused leftist to a determined
compassionate capitalist
after I returned to India I decided to
conduct an experiment based on these
three important ideas that I spoke
my first attempts of chronix
failed since there was no domestic
market for software development in India
at that time
I learned my lesson and started my
second attempt emphasis after my stint
as a general manager at patni compute
assistance private Limited I collected a
set of bright and value-based angsters
there to assist me in building infuses
Fortune conspired with us in the form of
the 1991 economic reforms of India
ushered in by late SRI narsimha Rao and
Dr Manmohan Singh the rest my Ang
friends at the same history
while I did not expect to address every
challenge of our society in my emphasis
Journey I hope to create a microcosm
that did not suffer from the Injustice
in equity discrimination and the
unfairness of the society that I had
seen or experienced around me when I was
growing up
I wanted to create a company of the
professional
for the professional and by the
professional as Abe Lincoln defined a
democracy
I wanted this corporate Child of Mine
to be an expression of the best that the
corporate world and the society could
offer I wanted it to be a place where a
person from any race
any religion caste region nationality
and economics Freedom could succeed
based on competence and values
a place where people from The Forgotten
fringes of our society could compete
with confidence perform
earn respect occupy the center stage and
with Luck run the company
a place where fairness and Justice would
be the norm a place where imagination
speed and excellence in execution would
be the watch phrase a place where
a place where there was no apartheid
between the management and the employees
a place where the Dignity of the
professional was sacrosanct a place
where the Merit was revered in every
transaction a place where the CEO
and the janitors shared the same canteen
and the same toilet
a place where the graft would be taboo
a place where people would collab would
celebrate different gratification
would not pilfer from the corporate
Kitty and do what is right for the
entire company
a place where the asymmetry of
information between the management and
the shareholders dissolved like you on a
sunny morning
a place where you could disagree but
could not be disagreeable
a place where the seniors wholeheartedly
and enthusiastically shared wealth with
everyone who participated in generating
it and ultimately a place where the
inner voice exhorted every infusion to
demonstrate the best of Entrepreneurship
compassionate capitalism
enlightened corporate democracy and time
invariant and context invariant values
this to me has been the emphasis I
dreamed from the first day I discussed
with my then friend and today my wife in
1977.
even today my undying passion Burns
Pride for these ideas that have made
emphasis special
my dream for emphasis has never been
just that of a profit making machine
but rather an experiment and a
demonstration of social change for the
betterment of my country
Infosys has been a perfect manifestation
of my belief that one's fate need not be
determined solely by one's birth
emphasis has been an umbrella offering
shelter to many who shared the same
belief
I wish to share with you what I have
learned in this extraordinary Journey
and what has made emphasis unique
each one of these precepts has been a
foundational pillar
for building emphasis over the past four
decades Plus
my hope is that every one of you
whether you become corporate leaders
whether you become entrepreneurs or
whether you perceive pursue the academic
line
will find
these ideas
useful and demonstrate them throughout
your career first
a culture of meritocracy and values
should determine the mindset of a
company
culture is the strong foundation on
which the superstructure of aspirations
dreams hopes and their conversion to
reality rest remember that pivot Peter
Drucker once said culture eats strategy
for lunch
second
competence commitment and character or
the essential ingredients for a company
to earn the respect of the stakeholders
and to achieve enduring success
the best management Guru my friend sorry
for saying it is the market competition
fourth the most powerful instrument of a
leader is leadership by example in
demonstrating courage
sacrifice
hope
confidence
Innovation hard work
truth fairness transparency
accountability austerity discipline a
good value system and most importantly
open-mindedness
5. how you behave when you are on top
and have power and wealth is your true
character
in such moments
Your Grace your courtesy and your
humility shown to others will reveal the
real you
sex a confident leader hides people
smarter than himself or herself
such a leader gets the best out of his
or her people by creating an environment
of openness to new ideas
values meritocracy fairness transparency
speed Justice imagination discussion
excellence in execution and questioning
remember that questioning is the prime
World soup of imagination without
questioning my own friends there is
absolutely no progress
seven putting the interest of the
company I had a once personal interest
in the short and medium term results in
the betterments of one's personal
interest in the long term
eight performance leads to recognition
recognition leads to respect and respect
leads to power
ninth respect enhances trust in the
company among stakeholders leading to
repeat business from customers
attracting quality employees and
long-term investors respect also
enhances cooperation from Ender Partners
the government of the land and the
society
10th Market access and talent access
determine the success of a company
11. sales and finance or the live blood
functions of a company
12th price is what you pay and value is
what you expect from what you buy
every customer looks for the best value
for money in every purchase therefore a
company that enhances differentiated
value to the customers using continuous
innovation will obtain premium pricing
competing merely on price will restrict
and restrict the company
to a commodity Market my young friends
such company will eventually atrophy
13.
free cash flow is the best index of
success of a company
you all know that profit is just an
opinion the real thing is cash in the
bank
14
transparency in everything you do is
counter intuitively a competitive
Advantage I want you to remember this
very importantly
respected leaders 15th respected leaders
avoid any symmetry of benefits in their
own favor whether we other stakeholders
particularly the minority shareholders
good governance is enhanced by adhering
to honesty fairness
transparency and accountability in every
transaction
it requires values separation of greed
and fearless governance
16
success mayang friends is half due to
Performance and half due to luck I want
you to remember this very importantly
because
I want every one of you to be humble as
Louis Pastor once said Chance favors the
prepared mind
so we must do you must do everything
possible for Success before you invoke
God
17 fairness is the most important
attribute for any decision
practice the Latin proverb Audi alterm
part-time that means listening to the
other side
fairness my friends is maximized by
listening to the other side and using
data and facts 18 across the world and
particularly in a country like India
where the majority of the people are
poor the best way to make capitalism
attractive is for the corporate leaders
to exercise
self-restraint in their perks in their
profligacy their compensation and their
lifestyle after all remember the words
of Socrates who said The Secret Of
Happiness lies not in seeking more but
in developing the capacity to enjoy less
The Lost One the 19th and the most
important one is remember that the
softest pillow is a clear
conscience therefore when in doubt
disclosed
these ideals my friends I have expressed
are not rhetorical
we at emphasis have lived them
we have fought for them we have
sacrificed for them we have suffered for
them and we have celebrated them
in the future
at a time when there is fog on your
windshield I hope these time in variant
and context in variant ideals will serve
you in gaining clarity living these
ideals has reinforced
the Eternal idea that the purpose of
life is to leave our context a little
better before we leave this world
these ideas my young friends Define the
finish line
until these ideas become your second
nature
my own friends your journey and your
mission will not be over
this is my charge to every one of you
gathered here today particularly the six
is 600 people who obtain their degrees
you will have to leave leave these
ideals and bequeath them to the Future
Generations
My Hope for India of the future is that
you the future corporate leaders the
future academicians the future
entrepreneurs will ensure that for all
ages for all seasons for all regions for
all businesses and for all people our
country will be led by the ideals I have
laid out here today
finally
be original be daring
be unreasonable
be anything that will assert the
Integrity of your person purpose thank
you very much
[Applause]
関連動画をさらに表示
NVIDIA CEO Jensen Huang's 2024 EPIC Graduation Speech at Caltech
Tom Hanks delivers Harvard University’s commencement speech
JATI DIRI UNSOED-Manusia Dan Kepribadian Oleh Ulul Huda, S.Pd.I., M.Si.
Reva Yuniar - Pidato "Meneladani Akhlak Rasulullah SAW"
K.H. Budi Ashari | Visi & Potret Generasi | SESI 3 | Karya | PGA 2021-2022
PM Anwar calls for unity of Malaysians to spur nation to greater heights in Hari Raya address
5.0 / 5 (0 votes)