Wednesday, 3 April 2013

Outsourcing billionaire Azim Premji

Outsourcing billionaire Azim Premji:

Azim Premji is the man behind Wipro, one of the top IT Companies in India.The Forbes list (2009) of the worldsbillionaires has him on the 83rd position with a net worth of $ 5.7 billion. Premji was also, According to Forbes,the richest man in India from 1999 to 2005.
Azim Premji has always been known for being modest.Despite the fact that he is a billionaire , he flies by the economy class.He likes to stay in budget hotels or company guest houses rather than 5 or 7 star hotels.He drove a Ford Escort for around 8 years before upgrading to a Toyota Corolla.Paper plates were used at the wedding of his Son.
Azim Premji was born onborn July 24, 1945 in Mumbai,India .He did his schooling from St. Mary’s School , Mumbai and went toStanford University in the US for his electrical engineering.
In 1966 , Azim Premji’s Father passed away.Azim Premji left Stanford and came back to India to take control of thefamily business.Their Company, Western Indian Vegetable Products Limited (Now Wipro) used to manufacture cooking oil.
Azim Premji was only 21 years of age when he inherited the $ 2 million cooking oil company. He had to face many challeges in the beginning,but his courage and determination made himovercome all difficulties.
Since that time he has diversified and turned the businessinto a multi billion dollar technology enterprise.
IBM left India in 1980 and this gave Indian companies a golden opportunity to eter into computer business.Azim Premji acted fast and hired the best engineers to develop computers.Later , Wipro also started to make computer software.
Wipro got listed on New York Stock Exchange( NYSE ) in 2000.Wipro was the first company in India to adopt the six sigma concept.
Today ,Wipro is one of the leading IT companies in India and its businesses include R & D, Outsourcing , Consulting and Software.
Azim Premji foundation was set up in 2001.It is a non profit organization and runs various programmes to provide quality education to children in rural areas.

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