Entrepreneurs Need to Establish Unique Solutions in Marketplace: Narayana Murthy
"Speaking at the second edition of “Ideas of India” Summit, Murthy said, “The only instrument a country has to enhance for the prosperity of the country or to improve the income of its citizens is to work hard, to show discipline, have high aspiration, imbibe some values and perform because performance leads to recognition and that leads to respect and that further leads to economic power."
“Today the funding has dried up therefore our entrepreneurs need to realize that the threshold for obtaining funding has been raised and now entrepreneurs need to establish unique solutions in the marketplace. Once it is established, there will be enough venture capitalists interested to look at those ideas”Infosys co founder and former chairman, N. R. Narayana Murthy said.
He further added, “An idea which has true value in India and is handled by the entrepreneurs who have the desire to control the cost, they will soon reach a positive cash flow situation.”
Speaking at the second edition of “Ideas of India” Summit, Murthy said, “The only instrument a country has to enhance for the prosperity of the country or to improve the income of its citizens is to work hard, to show discipline, have high aspiration, imbibe some values and perform because performance leads to recognition and that leads to respect and that further leads to economic power. Economic power is the foundation of all other powers. If you do economically well as a nation then you will eventually be powerful. So, youngsters should realize that performance is the only instrument they have.”
Speaking on India education, Murthy said, “I would say from my own experience of having worked with about 150 thousand employees that there is probably top 10 to 20% of the students who are smart, bright and they fit in very quickly and very easily. But the majority of the students coming out of the Indian education system, they are exam-oriented they have been brought up on the staple diet of coaching classes they do not study throughout the year, they wake up and in the examination, they come in and solve some problems and they forget about it. These youngsters need a lot of internal coaching before they become employable.”
On organization culture, he said “If you want to build a culture of an organization, that culture building is only possible if we all come together in physical form so I am not enthusiastic about working from home. Moonlighting is unethical, you cannot be part of two Institutions because there may be classified information that may go from company A to company B.”
The ABP Network’s “Ideas of India” Summit 2023 was discussing the topic of “A New Corporate Culture, The Leader’s Guide.” The summit has brought together policymakers, cultural ambassadors, industry experts, celebrities, and business leaders to discuss the critical role of India during the global churn and changing dynamics. ABP Network is a leading multi-language channel reaching 535 million individuals in India therefore this summit provides one of the biggest platforms for the brightest minds across various sectors to express their views.