Book SummaryAzim Premji, by Sundeep Khanna and Varun Sood

1-Page Summary1-Page Book Summary of Azim Premji

The Life and Career of Azim Premji and Wipro's Evolution

Premji's Family Background and Early Career

Premji Family's Business Roots in Bombay and Amalner; Premji's Return to India After Father's Death

Khanna and Sood delve into the rich history of the Premjis, tracing their business roots back to pre-independence Bombay. Azim Premji's father, Mohamed Husein Hasham Premji, was a prominent businessman and a respected figure in the Indian business community. He earned the nickname "Burmese Rice King" and developed a thriving rice trading business before diversifying into other ventures. In 1945, he established Western India Vegetable Products Limited (later renamed Wipro), a modest plant-based oil manufacturing facility in Amalner, Maharashtra. This marked the beginning of what would become a multibillion-dollar conglomerate under his son's leadership.

Azim Premji's path to heading the company was unexpected. He was studying engineering at Stanford University when his father died in 1966. Being the sole male heir, his return to India was inevitable. At the young age of 21, he left his comfortable life and academic pursuits behind to assume control of the family business. The authors describe this as a pivotal moment, highlighting the weight of responsibility he had to carry and the complex challenges of inheriting a faltering oil mill in a small town.

Practical Tips

• Trace your own family's business history to understand generational influences on your career choices. Start by interviewing older relatives about any businesses or trades they were involved in and document these stories. This can provide insights into your entrepreneurial strengths and potential inherited business acumen.
• Create a personal development plan that focuses on building the skills and knowledge necessary for business success. Identify areas such as negotiation, market analysis, and leadership that were likely instrumental in Premji's rise to prominence. Set specific goals to improve in these areas, such as taking an online course in market analysis, reading books on leadership, or practicing negotiation with friends or colleagues.
• Explore your hobbies to identify potential business opportunities by listing activities you enjoy and researching if there's a market for products or services related to them. For example, if you love painting, consider selling your artwork or offering custom portrait services online.
• Consider starting a small-scale venture that addresses a local need, drawing inspiration from Wipro's origins in vegetable products. Identify a gap in your community, such as a lack of certain types of fresh produce or a need for locally produced goods. Begin by conducting surveys or having conversations with neighbors to pinpoint this need, then plan a small garden or craft project to meet it, using local resources and selling to your community.
• Create a "responsibility roadmap" for handling unexpected life changes. When faced with a sudden change, such as a family emergency or a career shift, draft a plan that outlines immediate actions, potential challenges, and support systems you can rely on. This proactive approach ensures you're prepared to handle life's curveballs effectively.
• You can learn from young leaders by shadowing a young entrepreneur in your community. Reach out to local business incubators or entrepreneurship programs and ask to observe a young entrepreneur at work. This will give you firsthand insight into the challenges and successes that come with taking on significant responsibility at a young age.
• Consider conducting a "Role Play Experiment" with a trusted friend or mentor where you simulate taking over a new responsibility or project. This exercise can help you anticipate challenges and identify the skills you might need to develop to succeed in a new role.
• Start a small-scale collaboration with a local college or university to engage students in a real-world business challenge. Students in business, engineering, or sustainability programs could provide fresh perspectives and innovative solutions for your oil mill. This partnership could lead to new ideas for efficiency, marketing, or product development that you might not have considered.

Premji Chose to Diversify Wipro Into Hydraulics and Computers Beyond Oils

Khanna and Sood explain that during the initial phase of his leadership, Premji displayed remarkable vision and resilience. He recognized the limitations of the edible oils industry under India's stringent licensing system, known as the "licence raj". To break free from these constraints and to build a more sustainable foundation for Wipro, he decided to branch out into different ventures.

His first major diversification came in 1975 with the establishment of a division called Wipro Hydraulics, a business focused on manufacturing hydraulic cylinders....

Azim Premji Summary Premji's Philanthropy Journey and the Charity Named for Him

Premji's Philanthropy Roots: Mother's Pediatric Orthopedic Facility Role

The authors shed light on how Premji's mother, Gulbanoo, significantly influenced his commitment to social good. A trained paediatrician, she dedicated her life to improving healthcare for children, co-founding a pediatric orthopaedic hospital in Bombay in 1950. Premji witnessed his mother's tireless work and her unwavering compassion, inspiring him to contribute positively to society.

Khanna and Sood note that Gulbanoo actively involved Premji in her work there, taking him along on rounds and sharing her passion for helping those in need. These formative experiences instilled in him a strong sense of social responsibility and a deep respect for those less fortunate. He grasped the power of learning and healthcare in transforming lives.

Premji's Awareness of Inequities Nationwide

As Premji navigated the complexities of business in India, he witnessed firsthand the stark realities of inequality and the issues confronting millions of Indians. His frequent trips to the interiors of the country, particularly to monitor Wipro's personal care business, exposed him to poor education, widespread...

Azim Premji Summary Wipro's Leadership Challenges, Performance, and Premji's Management Style

Wipro's Underperformance vs. TCS and Infosys

While Wipro enjoyed success in the initial stages of the dot-com boom, it struggled to maintain its growth trajectory in the following decade. Khanna and Sood meticulously analyze why Wipro underperformed compared to competitors such as Tata Consultancy Services and Infosys, attributing it to several key factors. One critical mistake was prioritizing profit over increasing revenue, especially with a key client, GE, that demanded discounts.

Another critical misstep was the delayed entry into certain high-growth service segments like finance and banking. Wipro's early strategy of focusing on high-value product development work for technology firms meant it wasn't well positioned to capitalize on the outsourcing boom driven by financial institutions. The authors also point out Wipro's overly conservative investment approach, where it missed opportunities to acquire companies and expand its business portfolio, allowing competitors to gain market share.

Premji's Management Style and Its Impact on Leadership

Khanna and Sood delve into the intricacies of how Premji led, highlighting his hands-on approach, his obsession with...

Azim Premji Summary Premji's Personal Life, Family, and Wealth Approach

Premji's Marriage to Yasmeen; Raising Their Sons, Tariq and Rishad

Khanna and Sood shed light on Premji's personal life, describing his marriage to Yasmeen Chinoy in 1974. The authors portray her as strong and independent, highlighting her accomplishments as an author and her involvement in charitable work. They also detail the couple's approach to raising their two sons, emphasizing values of humility and hard work.

The authors recount anecdotes of how the Premji children were raised with a sense of normalcy despite their family's affluence, taking public transportation to school when needed and not being showered with extravagant gifts. Khanna and Sood emphasize the close bond within the family, particularly between the brothers who have consistently supported each other's endeavors.

Rishad and Tariq: Different Personalities and Careers

While Rishad chose a conventional path, studying at a higher-level institution in America and joining Wipro, Tariq carved his own path, exploring his interest in finance and investment. Khanna and Sood describe the distinct personalities of the siblings, highlighting Rishad's meticulous, detail-oriented nature mirrored in his...

Azim Premji Summary The Future of Wipro Under New Leadership

Rishad Premji's Shift to Chairman and Strategic Vision

Khanna and Sood examine the transition of leadership at Wipro, starting with Rishad Premji's appointment to the chairmanship in 2019. The authors emphasize Rishad's unique blend of experience, having worked both within Wipro and at global firms like Bain and GE. This exposure, they argue, gives him valuable insights into the evolving nature of the IT industry and the obstacles Wipro encounters.

They detail Rishad's vision for Wipro's future, focusing on revitalizing its culture, attracting top talent, and investing in newer technologies. The authors also highlight Rishad's commitment to social responsibility, echoing his father's values and demonstrating a clear grasp of Wipro's duties as a responsible corporate citizen.

Rishad On Leadership, Culture, and Growth Strategy

Rishad recognized the necessity of a cultural shift within Wipro, moving beyond a hierarchical, top-down approach to one that encouraged collaboration and innovation. The authors highlight his willingness to break from tradition, engaging in open dialogue with employees and seeking diverse perspectives.

The authors describe his dedication to...