Narayana Murthy’s Gyan on a Platter

Most young managers seek to discover the mantra of success and shoot up the corporate ladder often faster than they deserve. Human desire and ambition know no bounds. Unfortunately, the secret to success is not available at discount bazaars and mega sales. But if you have the basic mettle and are willing to learn from self-made captains of business and industry, then the road to success can become smoother. However, listening to sane advice and abiding by it is easier said than done. Going through a past issue of Harvard Business Review, I happened to come across an insightful interview of Nagavara Ramarao Narayana Murthy who co-founded India’s highly respected information technology multi-national Infosys. Though an M Tech from IIT, Kanpur, Murthy launched Infosys with some of his colleagues from Patni Computers and friends virtually from scratch in 1981. They invested Rs. 10,000 to start the company and even that amount came from Murthy’s wife Sudha. Murthy took Infosys to great heights. It is India’s sixth largest publicly traded company today. Murthy, 71, is now its Chairman Emeritus with a net worth of $ 1.8 billion as per a 2015 assessment. By launching the employee stock option plan (ESOP) he ensured that even his driver became a multi-millionaire. Yet he continued to lead a very simple life. Murthy is a significant philanthropist. Little wonder that Fortune magazine listed Murthy amongst the 12 greatest entrepreneurs of our time. Time magazine described him as Father of Indian IT sector. National and international honours have been conferred upon him by the dozen. Governments around the world seek his advice. So when N R Narayana Murthy speaks, the world listens. I wish to discuss this great man’s views on leadership and management with young professionals. At a time when the world, especially the youth, seems hypnotised by consumerism and hankers to acquire more and more, Murthy remains a staunch believer in a frugal and inexpensive lifestyle. He recounted to Harvard Business Review what his father had told him very early in life: “He (father) said if you cultivate inexpensive habits, you will not become a victim of money in later years. And, you will not fall into the trap of greed which leads you to do things that you will later regret.” Murthy never forgot what his father told him. As Infosys grew, he shared the company’s wealth with employees through ESOP and with lakhs of Infosys shareholders. He also always remembered his father’s advice to read, which he did by borrowing books from the town library, and to listen to music, which he did by going to the municipal park where music was played on the public address system in the evening. All this came free for Murthy and his seven siblings who could not afford even these basic amenities during their childhood. Books, magazines and newspapers offered knowledge while music nourished sensitivity for fine arts and aesthetics, all so essential to make a person complete. Another gem of advice from father: “Cultivate good friends and discuss interesting and useful things with these friends. These conversations do not cost you any money.” But how handsomely did this wisdom pay Murthy and friends. They founded Infosys together and remained a team, with one friend taking over the helm from another who stepped down on reaching the age of retirement. No other company in the world can claim to have had such a smooth succession system. No wonder, Infosys did not witness any fight for succession till all the original set of founders retired. In course of the interview, Murthy brings to our notice an important lesson that he learnt from Prof. J G Krishnayya (JGK), his boss at the Indian Institute of Management, Ahmadabad. “He taught us the importance of starting every transaction on a zero base and not carrying the hysteresis of bias from prior transactions. Let me give you an example. From time to time, JGK and I would have a discussion on a technical issue. In the heat of excitement, we would say things that would not be appropriate. I was guilty of it more often than JGK. I would spend the night worrying that JGK had gotten upset with me. But, the next morning when I met him, he would be smiling, affectionate and full of charm. He would behave as if that offending transaction did not happen. In fact, my colleagues at Infosys have observed me behaving exactly like JGK did. They know that my comments were purely on that issue and have nothing to do with the person involved,” Murthy told the HBR interviewer. I find this sage like suggestion from Murthy highly valuable in the Nepali context where we are known to nurse grudges on trivial issues. This is not confined to the business world alone. The malaise has affected our entire system, particularly the legislature, executive and the judiciary. They are at loggerheads with one another most of the time over clash of egos and vested interests. The nation suffers. There seems to be no space for genuine difference of opinion and gentlemanly discourse. To be honest, I see the same happening in the corporate world which is expected to be result oriented for sheer survival and growth. But in our feudal setup, I often come across the best minds in business languishing by the side because they dared to challenge the viewpoint of their owner or superiors. Yes men flourish while the business flounders. In such circumstances, valid theses, arguments and data become irrelevant. In contrast to our pathetic state, Murthy always stuck to JGK’s following advice, “Young man, if you use data and facts to arrive at conclusions, then you will not be biased, you will not be opinionated, and you will be fair to the other person.” The advice, worth its weight in gold, was offered to Murthy by the wise professor way back in the late 1960s. And he practised it all his life. Murthy still tells youngsters, “In God we trust. Everybody else brings data to the table.” Following Donald Trump’s ascendancy to US presidency, these are not the best times for India’s IT industry. Yet the market capitalisation of Infosys stood at $ 36.6 billion on March 31, 2017. Such is the outcome of hard data-based empirical approach to business. On the contrary, in Nepal, real figures and data largely remain a mystery wrapped in an enigma. Murthy’s unflinching faith in data is rooted in the following gyan which he shares with all young professionals: “…I tell them …to practice honesty, integrity, decency and fairness. I communicate these values to them by the adage, “The softest pillow is a clear conscience”. And, they understand that I am advising them to be honest, to be fair to others, to use data and facts, and not be biased.” This leads to transparency. Murthy stated, “I use the adage, “When in doubt, disclose” to communicate this powerful attribute of value system. Transparency is a prime value attribute in the corporate world because good corporate governance depends on transparency. Transparency is also the hallmark of a good professional, a good human being and good citizen of any society.” Murthy also advises youngsters to equip themselves for operating in multi-cultural environments. The globalised world expects this attribute in all business managers. A multi cultural mindset is the need of the hour. Though appreciative of Indian managers’ ability to work hard, Murthy expects more from them. He observed, “…Indian managers have to learn better the ability to move from being reactive problem solvers to proactive problem definers, or proactive solution definers. Indians are very hard working. They are reasonably smart. But, by and large, the Indian professionals expect their bosses to tell them in detail what needs to be done.” How I wish that business managers in Nepal too paid heed to Murthy’s advice. They are far too prone to decisions and solutions being offered to them by either the promoters or the top management. This attitude only blunts and rusts their ability and mental acumen. This is enough gyan from a living legend. Let our managers follow in Murthy’s footsteps.

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Basant Chaudhary is a Poet, Writer, The Chairman of BLC and Basant Chaudhary Foundation. ([email protected])