Corporate leaders must practice moderation in perks, perks and lifestyle to make capitalism attractive: Narayana Murthy – NewsDrum

Ahmedabad, Apr 2 (PTI) Corporate leaders must exercise “self-restraint” on their perks, lusts and lifestyles, especially in India where most people are poor, to make capitalism attractive, Infosys co-founder NR Narayana Murthy said here. on Sunday

Speaking as the chief guest at the 58th annual convocation of the Institute of Management Ahmedabad (IIMA), Murthy said “good governance” is enhanced by adhering to “honesty, fairness, transparency and accountability in all business”.

Reviewing his “specimens”, he highlighted the virtue of “equity” as the main attribution of decision.

“All over the world and especially in the country of India, where the majority of people are poor, the best way to enjoy capitalism is for corporate leaders to exercise restraint in their perks, luxuries, compensation, and their lifestyles,” Murthy said.

He said the “success” of society must be determined by a culture of meritocracy and values, as “culture is a strong foundation on which the superstructure of aspirations, dreams, and hopes is based.”

Murthy said that part of success is part of making ends meet.

“I want each of you to be humble… Do everything that is possible for happiness before you call on God,” he said.

Speaking about the Infosys building, Murthy said that he wanted it to be a place where a person, irrespective of caste, religion, caste, region, nationality and economic strata could succeed based on their competence and values.

“Transparency in everything you do is counterintuitively a competitive advantage. But I want you to remember it more seriously (yes),” he said.

Murthy said “competition, commitment and character” are essential for a company to earn respect for its values ​​and achieve lasting success.

Speaking about the attributes of a leader, “The most important tool of a leader is leading by example to demonstrate courage, sacrifice, hope, trust, innovation, hard work, truth, fairness, transparency, reason, austerity, discipline; the reason for good value, and most of all, open lightness.” A bold leader hires people smarter than himself or herself, and such a leader gets the best out of his people through an environment of openness to “new ideas, values, meritocracy, fairness, transparency, speed, justice, imagination, discussion. He added excellence in execution and questioning.

“The best management guru is the competitive market,” Murthy said.

“The way in which someone conducts himself at the top and has power and wealth is his true character. In such matters, your grace, humanity and humility shown to others will reveal your truth,” he added.

According to Murthy, there is no progress without questioning.

“Putting the company’s interest before the short and medium term results in the improvement of the individual in the long term,” he said.

Murthy said that every customer is looking for the best value for money in every purchase, and therefore a company that offers differentiated products to customers using continuous innovation will achieve a premium price.

Murthy said that his mind was trained in him since he was young to limit his destiny to the circumstances he was born into, and he felt that India was a lower middle class with little hopes and even smaller dreams.

He simply said that he accepted that the glass chamber would be at most of the corporate ladder in corporate India, since corruption and government connections used to be common in the most successful businesses.

“This regressive mindset changed when I went to work in a real-time French program in Paris where I learned three main ideas – the power of entrepreneurship in the free market in creating businesses and prosperous nations, the beauty of enlightened corporate democracy, and the role of compassionate capitalism in building a happy and prosperous country.” , Mani added.

This journey, he said, irrevocably turned him from a “confused Leftist” to a determined, compassionate capitalist.

“After my return to India, I decided to conduct an experiment based on these three main ideas that I talked about,” he said.

A total of 597 students graduated from IIMA. PTI KA NSK NSK