Founders Of Infosys Technologies Limited Commerce Essay

Founders Of Infosys Technologies Limited Commerce Essay Narayana Murthy is the Non-Executive Chairman and Chief Mentor of Infosys Technologies Limited. He is a living legend and an epitome of the fact that honesty, transparency, and moral integrity are not at variance with business acumen. He set new standards in corporate governance and morality when he stepped down as the Executive Chairman of Infosys at the age of 60. Born on August 20, 1946, N.R. Narayana Murthy is a B.E. Electrical from University of Mysore (1967) and M.Tech from IIT Kanpur (1969). Narayan Murthy began his career with Patni Computer Systems in Pune. In 1981, Narayana Murthy founded Infosys with six other software professionals. In 1987, Infosys opened its first international office in U.S.A. With the liberalization of Indian economy in 1990s, Infosys grew rapidly. In 1993, the company came up with its IPO. In 1995, Infosys set up development centers across cities in India and in 1996, it set up its first office in Europe in Milton Keynes, UK. In 1999, Infosys became the first Indian company to be listed on NASDAQ. Today (in 2006), Infosys has a turnover of more than $ 2billion and has employee strength of over 50,000. In 2002, Infosys was ranked No. 1 in the Best Employers in India 2002 survey conducted by Hewitt and in the Business Worlds survey of Indias Most Respected Company. Conducted in the same year. Along with the growth of Infosys, Narayana Moorthy too has grown in stature. He has received many honors and awards. In June 2000, Asiaweek magazine featured him in a list of Asias 50 Most Powerful People. In 2001, Narayana Murthy was named by TIME/CNN as one of the 25 most influential global executives. He was the first recipient of the Indo-French Forum Medal (2003) and was voted the World Entrepreneur of the Year 2003 by Ernst and Young. The Economist ranked Narayana Murthy eighth on the list of the 15 most admired global leaders (2005) and Narayan Murthy also topped the Economic Times Corporate Dossier list of Indias most powerful CEOs for two consecutive years 2004 and 2005. StartUp (http://www.citehr.com/118434-amazing-infosys-story-how-infosys-born.html) April 26, 2004 What makes Infosys tick? Extract from Infosys Technologies co-founder and CEO Nandan M Nilekanis interview to CIOL: Actually when Infosys was formed, all of us were working with Patni in Mumbai and Narayan Murthy was our boss there, heading the software group. The group strongly felt that there is a need to create a very professional company, one that was based on very strong ethics and values. We also wanted to create a company that really valued people. That is how we started. The fact of the matter is that there were many such companies that started at the same time during early 80s, however, what made us different was that we stuck it out-we realized that it was not a sprint but a marathon and we were long distance runners. We went through difficult times, but none of us digressed from the common vision. All of us believed that Infosys was bigger than any of us and we were willing to subordinate our egos and our desire to larger boats. I think that determination to create a world-class company, to stick together, willingness to keep Infosys ahead of any individual-perhaps these are the charact eristic not many people and companies had to the extent we had. Thats why we were able to last the marathon for last 23 years. Infosys Technologies is one of the few Indian companies that has changed the way the world looks at India. No longer is India a land of snake charmers and beggars. It is now perceived as an economic giant to reckon with, bursting with brilliant software engineers and ambitious entrepreneurs. And Infosys is an symbol of Indias information technology glory. Infosys has many firsts to its name: The first Indian firm to list on Nasdaq; the first to offer stock options to its employees. . . The company crossed $1 billion in revenues for the first time in 2004. TCS, however, was the first Indian IT firm to top $1-bn in revenues. Infosys is an organisation that inspires awe and respect, globally. On July 2, Infosys completed 25 years in existence. This is its amazing success story, illustrated by rare photographs. The idea of Infosys was born on a morning in January 1981. That fateful day, N R Narayana Murthy and six software engineers sat in his apartment debating how they could create a company to write software codes. Six months later, Infosys was registered as a private limited company on July 2, 1981. Infosys co-founder N S Raghavans house in Matunga, northcentral Mumbai, was its registered office. It was then known as Infosys Consultants Pvt Ltd. What was the companys starting capital? US $250. Murthy borrowed $250 from his wife Sudha to start the company. The front room of Murthys home was Infosys first office, although the registered office was Raghavans home. Who were Murthys six friends who joined hands to launch Infosys? Nandan Nilekani, N S Raghavan, S Gopalakrishnan, S D Shibulal, K Dinesh and Ashok Arora. Are all of them still the founding directors? Murthy is currently chief mentor and chairman while Nilekani is the chief executive officer and managing director. Gopalakrishnan, Shibulal and Dinesh are directors. Raghavan retired as joint managing director in 2000. He is currently the chairman of the advisory council of the N S Raghavan Centre for Entrepreneurial Learning at the Indian Institute of Management, Bangalore. Ashok Arora worked for the company till 1988 and left after selling his shares in the then unlisted company back to the other promoters. He moved to the United States where he now works as a consultant. Murthy was always broke Murthy was always broke. He always owed me money. We used to go for dinner and he would say, I dont have money with me, you pay my share, will return it to you later. For three years, I maintained a book of Murthys debts to me. No, he never returned the money and I finally tore it up after our wedding. The amount was a little over Rs 4,000. An excerpt from Sudha Murthys reminiscences. She is the wife of Infosys founder N R Narayana Murthy. Those days, Murthy wanted to do something with his life, but he had no money. Murthy was married to Sudha on February 10, 1978, while he was working with Patni Computers. In 1981, it was Murthys idea to start Infosys. Murthy had a dream, and no money. So Sudha gave him Rs 10,000, which she had saved without his knowledge. Murthy and his six colleagues started Infosys in 1981. No, it was not in Bangalore, but in Pune that Infosys set up its first office, in 1981. The house that Murthy and Sudha bought with a loan became the first Infosys office. As Murthy ran Infosys, Sudha took up a job as a systems analyst with the Walchand Group of Industries to support their household. In 1983, Infosys moved to Bangalore when it got its first client, Data Basics Corporation from the United States. The first mini computer arrived at Infosys in 1983. It was a Data General 32-bit MV8000. The very next year Infosys switched from mini to main frames with a CAMP application for a Data Basics customer A huge struggle, day in and day out When they began moving ahead with Infosys, the founders Murthy, Nilekani, Shibulal and the others took a firm decision that their wives would not be involved in the running of the company. So after Murthy, it was Nilekani and his wife Rohini who moved to Bangalore. But they had no house to stay. So the Nilekanis stayed with the Murthys at their Jayanagar home in Bangalore. Rohini took care of Murthys son as Sudha helped write software programmes for Infosys. There was no luxury, only struggle, day and night. They had no car, no phone. Murthy later recalled that it was not the luxuries of life, but the passion to create something new and innovative that made them keep going on and on and on. Despite the struggles, the Murthys, the Nilekanis and the other partners took time out for picnics in Bangalore The crisis, and how Infosys began to grow The first years of Infosys were not smooth. Most of the founders Murthy, Nilekani, Dinesh, Shibulal and Gopalkrishnan were into writing codes. And they wanted to make an impact in the American market. So Infosys got its first joint venture partners in Kurt Salmon Associates. Gopalakrishnan, who had spent time working in the United States, was the public face of the KSA-Infosys venture in America. But the joint venture collapsed in 1989, leaving Infosys in the lurch. Gopalakrishnan relives the memories of those days. We had nothing after eight years of trying to bring up a company. Those who studied with us had cars and houses, he says. The collapse of the KSA joint venture led Infosys to its first crisis. The company was on the verge of collapse. One of the founder-partners Ashok Arora was dejected with the way the company was going, and decided to quit. The others did not know what to do. But Murthy had the courage of conviction. If you all want to leave, you can. But I am going to stick (with it) and make it, Murthy told them. The other partners Nilekani, Gopalakrishnan, Shibulal, Dinesh and Raghavan decided to stay. And thus began to germinate the seeds of Infosys enormous growth. The Nasdaq listing It is said that Infosys began getting big breakthroughs from the US market. How? The initial foray of Infosys into the US market was through a company called Data Basics Corp as a body-shop or on-site developer of software for US customers. Later, Infosys formed a joint venture with Kurt Salmon Associates to handle marketing in the United States. Even today, Infosys derives about two-thirds of its revenue from the United States, serving corporate clients like Reebok, Visa, Boeing, Cisco Systems, Nordstrom and New York Life. Infosys is the largest publicly traded IT services exporter in India, providing services to 315 large corporations, such as GE and Nortel, predominantly in the USA. It was the first Indian company to list on the Nasdaq stock exchange in 1999. And the other Infosys group companies? Progeon Ltd: The Infosys BPO arm. Infosys Technologies (Shanghai) Company Limited: The companys base in China. Infosys Australia Pty Ltd: Infosys Australian venture. Infosys Consulting Inc: The companys foray into the consulting business. 25 years sheer determination, and growth In the last 25 years, Infosys has been growing and growing. Today, Infosys is Indias second largest software exporter. It now enjoys a strong liquidity position with over Rs 6,000 crore (Rs 60 billion) in assets, including surplus cash. During 2005-2006, the Infosys internal cash accruals more adequately covered working capital requirements, capital expenditure and dividend payments leaving a surplus of Rs 1,612 crore (Rs 16.12 billion). As on March 2006, the company had liquid assets including investments in liquid mutual funds of Rs 4,463 crore (Rs 44.63 billion). This collectively makes the liquidity strength of Infosys at Rs 6,078 crore (Rs 60.78 billion). Where are these funds parked? These funds have been deposited with banks, highly rated financial institutions and in liquid mutual funds. Infosys last year derived an average yield of 4.48 per cent (tax free) from these investments. The company received Rs 647 crore (Rs 6.47 billion) on exercise of stock options by employees and cash equivalents including liquid mutual funds increased by Rs 1,612 crore during 2005-06. Key milestones Year of Incorporation : 1981 Became a public limited company in India : 1992 ISO 9001/TickIT Certification : 1993 Attained SEI-CMM Level 4 : 1997 Listed on NASDAQ : 1999 Crossed $100 million in annual revenues : 1999 Attained SEI-CMM Level 5 : 1999 Crossed $400 million in revenues : 2001 Crossed $ half a billion in revenues : 2002 Crossed $ billion in revenues : 2004 Crossed $ 2 billion in revenues : 2006 Another Note on infosys INFOSYS CASE STUDY ÃÆ' ¯Ã‚ ¿Ã‚ ½Narayana Murthy and Infosys The case study ÃÆ' ¯Ã‚ ¿Ã‚ ½Narayana Murthy and Infosys describes how Narayana Murthy, set up Indias leading software company Infosys. Narayana Murthy turned a small software development venture that he had set up with his friends in 1981, into one of the leading companies of the country. Infosys grew rapidly throughout the 1990s Narayana Murthy distributed the companys profits among the employees through a stock-option program, and adopted the best corporate governance practices. All this earned him praise and respect. In 1999, the company became the first Indian firm to be listed on the Nasdaq Stock Market. In 2000, Infosys was poised to become a true global company.By 2000, Infosys market capitalization reached Rs.11 billion and by 2001, Infosys was one of the biggest exporters of software from India. Narayana Murthy had built an organization that was respected across the country, with very strong systems, high ethical values and a nurturing working atmosphere.In February 2001 , Infosys Technologies Ltd. (Infosys) was voted as the Best Managed Company in Asia in the Information Technology sector, in leading financial magazine Euromoneys Fifth Annual Survey of Best Managed Companies in Asia. KEY SUCCESS FACTORS With his sound management skills, Narayana Murthy seemed to have taken Infosys to the pinnacle of success with the following key success factors : 1. Leadership team : The leadership team needs to balance vision with practical experience. In most cases, a technology start-up will have a visionary and/or a technical genius (most often, these are the founders) in place from day one. However, all to often, the leadership team is not rounded out by people who actually know how to run a business and how to drive sales. Building a strong balanced team can be one of the trickier aspects of creating a successful start-up because it necessarily requires the visionary and the technical genius (founders) to admit their practical shortcomings and give up some of the control of the business. The idea behind a start-up is often somebodys baby and, quite naturally, they want to control every aspect of its development. Once you move these people away from micromanaging the business, the start-up begins to have a chance. 2. Well-conceived business plan : This is an area where the practical experience of a well-rounded leadership team gives the start-up a leg up. The business plan needs to be practical and detailed. The business plan provides the blueprint for the growth of the company. Perhaps more importantly, the business plan is how you demonstrate the viability of the business to third party investors. 3. A strong product : It is a given that the product needs to be special ÃÆ' ¯Ã‚ ¿Ã‚ ½ something that will differentiate itself from the universe of competing products but there are other important factors. Ideally, the product will be one that can be protected by patent. If the products cannot be protected by a patent, then the start-up has to be positioned to capitalize on being the first to market. Absent patent protection, being the first to market and capturing as much market share as you can before the copy-cats arrive is the next best thing. The product needs to have a ready market meaning that there is a market for it and that either there is no real competition or that the product allows the company to differentiate itself from the competition. 4. Scalability : The scalability of the business may not be critical to the success of every business, but it is critical to drive a start-up to a large scale business. In other words, if the goal is to become a large, valuable company, scalability is key. However, if the goal is a little less lofty, then scalability is a little less important. 5. Adequate capital :. Without adequate capital, the business will struggle. Perhaps the business will have phenomenal sales, but be unable to deliver the product. Or, the business may build the product, but lack the cash to adequately market it. Or the business will be unable to attract the leadership team it needs and the team it has is diluted to ineffectiveness. Or, the business is unable to capitalize on its first-to-market status. While it is true that the management team for a start-up has to be versatile and willing to wear different hats, a capital-starved start-up can force the dilution of the management team to the point of everything being done poorly. Quite obviously, in many cases, the luxury of having adequate capital does not exist from day one. Finding the capital in a timely way can be very difficult. The more that can be done to address the other four points, the easier it will be to find capital. Launch of Infosys Narayana Murthy obtained his Bachelors degree in Electrical Engineering from University of Mysore in 1967 and his Masters degree in Technology from Indian Institute of Technology, Kanpur in 1969. He started his career as head of the computer centre at IIM, Ahmedabad.In 1972, he went to Paris where he was part of the team that designed a 400-terminal, real-time operating system for handling air cargo for Charles De Gaulle airport. Narayana Murthy was a left-wing activist and mingled with French communists during his stay in Paris but his outlook changed while traveling around Europe. He believed that the only way to pull India out of poverty was to create more jobs, by setting up new companies.In 1975, he returned to India and joined Systems Research Institute, Pune,(Maharashtra). He then headed Patni Computer Systems Pvt. Ltd., Mumbai, (Maharashtra) before founding Infosys in 1981, along with six other professionals. The Strategist From the beginning, Narayana Murthy focused on the worlds most challenging market the US. He had two reasons for this. First, there was no market for software in India at the time. He believed that Indian software companies should export products in which they had a competitive advantage.In 1987, Infosys entered into a joint venture with Kurt Salmon Associates (KSA), a leading global management consultancy firm. KSA-Infosys was the first Indo-American joint venture in the US. People Management Analysts felt that one factor which helped Infosys to grow at a faster pace than others was the low employee turnover.The turnover rate at Infosys was around 11% as opposed to industry average for software companies of over 25% during the 1990s.Infosys retention capability was a function both of its rigorous selection procedures as well as proactive HRD practices. About 80% of the middle and senior level executives were promoted from within the organization Corporate Governance and Infosys Analysts felt that Infosys became one of the most respected companies in India, through its corporate governance practices, which were better than those of many other companies in India. Narayana Murthys move to adhere to the best global practices was driven by his vision to become a global player. Infosys adopted the stringent US Generally Accepted Accounting Practices (GAAP) many years before other companies in India did Leaders in the Making Narayana Murthy set up a Leadership Institute in Mysore, India, to manage the future growth of Infosys. The institute aimed at preparing Infosys employees to face the complexities of a rapidly changing marketplace and to bring about a change in work culture by instilling leadership qualities. I would like to end with a comment from Sri Narayana Murthy: He said, ÃÆ' ¯Ã‚ ¿Ã‚ ½It is our vision at Infosys, to create world-class leaders who will be at the forefront of business and technology in todays competitive marketplace This has been at the forefront of their corporate culture !!! 2. Company Profile Infosys Technologies Ltd. provides consulting and IT services to clients worldwide. Founded in 1981, the corporate headquarters are based in Bangalore, India. However, Infosys offices span the globe. Since incorporation, annual revenue has rapidly increased and it reached $500 billion in 2002. Unlike many other Indian IT companies, Infosys has concentrated on building applications and this has contributed to its global success. Infosys Technologies employs nearly 17,000 people worldwide, almost 10,000 of whom are software professionals. 116 new clients in the financial year (FY) 2002 added to the already prestigious list that includes Airbus, Cisco, Nordstrom and Boeing. Retail banking services account for around 4% of total revenue. The company vision is to be the best globally, commercially and ethically. As such, Infosys has developed a C-Life principle of core values that it aims to honour in all aspects of its business conduct.

Gay, Lesbian and Bisexual Issues - Same-sex Marriage is Inevitable Essa

Same-sex Marriage is Inevitable      Ã‚  Ã‚   For many parents, the marriage of their child is a very happy and proud time. Most parents expect their children to get married and have children. But what if their child is gay or lesbian? Their child may have met the perfect person to spend their life with, but their child cannot get legally married. Same-sex couples can hold wedding ceremonies, but the law does not recognize these unions. Many heterosexuals take for granted the benefits that are extended to their spouse by way of legal marriage. These benefits do not extend to homosexual couples, because there is not a law that recognizes same-sex marriage. Gay marriage is not legal because of state and federal laws, as well as the traditional views of the American public.    There are many state laws that prevent gay marriage. An interesting background to the gay marriage issue is the issue of interracial marriage. In 1967, the state of Virginia had the case, Loving v. Virginia, go to the US Supreme Court that dealt with interracial marriage. The ruling in this case entailed that Virginia's prohibition of different-race marriage was a violation of both the equal protection and due process clauses. Why not the same for gay marriage? Furthermore, many states have sodomy statutes. While most sodomy laws apply to both heterosexuals and gay people, they are primarily used to deny lesbians and gay men a range of other rights. Sodomy laws were once on the books in all fifty states, but they have been repealed or struck down by courts in over half the states. In Texas, heterosexual sodomy laws have been repealed in recent years, but same-sex sodomy laws remain. (Bull 39,44) Sodomy is defined in most places as oral and anal intercours... ... looks back at the ridiculousness of sex and race-based discrimination.    Works Cited   Bull, Chris. Scene of the Crime. The Advocate. October 27, 1998. Cloud, John. For Better or Worse. Time Magazine. October 26, 1998. page 43. Eskridge, William N., Jr. The Case for Same-Sex Marriage. New York: The Free Press, 1996. Foley, Daniel R. The State of Gay Marriage. Family Advocate v20 n1 p39. Summer 1997 Kramer, Larry.Same-sex marriage, conflict of laws, and the unconstitutional public policy exception. Yale Law Journal. May 1997, v.106, n7, 1965-2008 Strasser, Mark. Legally Wed. Ithaca: Cornell University Press. 1997. pp. 50-52 United States. Congress. House of Representatives. Committee on the Judiciary. Defense of Marriage Act : report together with dissenting views (to accompany H.R. 3396).U.S. DOCS. NO. Y 1.1/8:104-664      

Importance of education in children’s life Essay

Providing free and quality education to children reflects the fact that every child is entitled to fundamental human rights and is to be treated with dignity. Where children are exposed to poverty, violence, abuse, or exploitation, those rights demand our urgent protection. Primary education supports children at a critical time in their physical, emotional, social and intellectual growth. More broadly, education is a key tool for development, and an invaluable means of addressing structural inequality and disadvantage. Primary education provides children with life skills that will enable them to prosper later in life. It equips children with the skills to maintain a healthy and productive existence, to grow into resourceful and socially active adults, and to make cultural and political contributions to their communities. Education also transmits more abstract qualities such as critical thinking skills, healthy living, resilience, and self-confidence. An educated adult population is vital for strong economic development. It also lays the foundations for greater overall economic productivity, and the full use of new technologies for development. A system of compulsory schooling helps fight child labour. Educated and literate adults are more likely to be informed about sexual risks and better able to protect themselves from HIV/AIDS and other sexually transmitted diseases. A lack of gender parity and equality in education is often a critical factor in underdevelopment. The education of women is a powerful means of sustaining improved health and education in the long term. Figures suggest that children of educated mothers are significantly more likely to be enrolled in school. The education of women also reduces fertility rates and improves the health of women, infants and children. In addition, the education of women may also address entrenched cultural views about traditional female roles as they are empowered and equipped with skills which enable them to make a full contribution to their communities. You can make a difference by entering a partnership, donating or volunteering.

History of Immigration in the United States Essay

Throughout the history of the United States immigration has become apart of our country’s fabric which, began centuries ago. Only to become a hot topic in the US in recent years with its primary focus being illegal immigrants. Illegal immigration is when people enter a country without government permission. As of 2008 the Center for Immigration Studies estimated that there are 11 million illegal immigrants in the US which is down from 2007‘s 12.5 million people. Although the Center for Immigration Studies estimates are very different from other estimates that range from 7 to 20 million. While the Pew Hispanic Center estimated in March of 2009 there are 11.1 million illegal immigrants and that number is from March 2007’s peak of 12†¦show more content†¦Then there was the Chinese Exclusion Act of 1882, which barred certain laborers from migrating to the United States. Between 1885 and 1887 the Alien Contract Labor also, prohibited specific laborers fr om immigrating to the US. In 1891 the Federal Government took on the duty of admitting, inspecting, rejecting, and processing all immigrant in search of admission to the United States. On January 2, 1892, a Federal US immigration station opened on Ellis Island in New York Harbor. In 1903 a reaffirmed provisions that were in the 1891Act. The US immigration Act of 1907, reorganized the states bordering Mexico that includes Arizona, New Mexico and a large part of Texas. Between 1917 and 1924 there were a series of laws were ratified to limit the number of new aliens. These laws established the quota system and forced passport requirements. They also expanded the categories of excludable aliens and banned all Asians except the Japanese. A 1924 Act was created to reduced the number of US immigration visas and allocated them on the foundation of national origin. 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