The challenge before Indian companies is to build brands that would have international recognition, N R Narayana Murthy, chief mentor, Infosys Technologies said on Tuesday.
"Benchmarking on a global scale is the only way to compete internationally. And to achieve this
, Indian companies must have an export orientation," he said delivering the Convocation Address of Post Graduate Programme in Management (PGPM) of Great Lakes Institute of Management (GLIM).
He claimed that at Infosys, their benchmark was with Motorola in quality and Microsoft for their focus on EPS. He said forecasting and continuous risk recognition and mitigation in every activity were important functions (of a company) and the Infosys model of predictability, sustainability, profitability and derisking (PSPD) helped them to achieve this target.
"We de-risk our business by taking action to reduce risks identified through our weekly, monthly and quarterly analysis," he said. He said Indian companies must learn to work among distributed and multicultural teams to successfully operate in a globalised world.
"This is especially important since various stakeholders of the company-clients, partners, suppliers, employees and investors' come from across the globe", he said and added that at Infosys they have brought cultural diversity through hiring programme in 90 countries. Murthy also called for companies to be fair with all its stakeholders.
"I do not know of a single corporation that has short-changed any stakeholder and survived in the long term. Focus on stakeholders requires highest degree of transparency and the best principles of corporate governance."
Murthy urged them to fight for the truth and never compromise on their values. "There will be instances when your integrity will be tested. As future leaders of Indian business, integrity is your most important attribute", he said.
Stating that a company's survival depended on satisfying customer's expectations, Murthy said unless it lived up to the best examples of customer focus and customer fairness, it cannot increase the market share.
