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Develop export orientation to build global brands: Murthy
The main challenge before domestic companies is to build internationally recognisable brands, Infosys chief mentor NR Narayana Murthy said in Chennai today.
The main challenge before domestic companies is to build internationally recognisable brands, Infosys chief mentor NR Narayana Murthy said in Chennai on Tuesday.
"Benchmarking on a global scale is the only way to compete internationally. And to achieve this, our companies must have an export orientation," Murthy said while addressing passing out students of post-graduate programme in management at the city-based Great Lakes Institute of Management.
He said at Infosys, their benchmark is with Motorola in quality and Microsoft for its focus on EPS.
The renowned industrialist said forecasting and continuous risk recognition and mitigation in every activity are important functions of a company and the Infosys model of predictability, sustainability, profitability and derisking help 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, adding domestic companies must learn to work among distributed and multicultural teams to successfully operate in a globalised world.
"This is especially important since various stakeholders come from across the globe," he said, and added 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.
"There will be instances when your integrity will be tested. As future business leaders, integrity is your most important attribute," Murthy said.
Stating that the survival of a company depends on satisfying customer expectations, Murthy said unless it lives up to the best examples of customer focus and customer fairness, it cannot increase the market share.
