Azim Premji,
who created Wipro, is
the wealthiest man in India.
A few nights ago he was interviewed
on the "Charlie Rose" show and to listen to him even for a few
moments was to understand how Wipro came to have one of the
most distinctive—and credible—corporate value statements
I’ve ever read.
While he had many provocative things to say about the U.S.’s relative
decline in science and engineering (and he’s a Stanford EE—he loves the
U.S.), our post-9/11 immigration restrictions, and India’s role
in the 21st Century economy, the remark that bears sharing with
the readers of "Adam Smith, Esq." was his response to this
question from Charlie:
Q.: "What are you most afraid of?"
A.: "Complacency. Complacency within my own organization.
"It is human nature to assume that current success will lead to
future success.
"But it is not so."
I’ve talked before about how hard it is for firms, even (particularly?)
those seemingly at the top of their game, to address the
need for a coherent strategy. Premji is upping
the ante.
David Maister reports on
his frequent experience that, after an extended engagement with
a firm seeking to move from "mere" profitability to the genuine
status of "trusted advisor," he will distribute anonymous voting
machines at the final meeting of the partnership to review the
plans, and will ask how many believe the firm really will implement
the new strategy, will follow through. And,
no surprise, in the "overwhelming majority" of cases the solid
consensus is that the firm will not. (David describes the
same syndrome at greater length and depth in "Strategy
& The Fat Smoker.")
Meanwhile, The Lawyer, fresh off reporting stellar results
for the top 20 U.S. firms in 2005, warns in
"US booming – but for how long?": "In
other words, the battle for the premium rate work is only going
to get tougher in 2006. It starts now."
Are you ready? If Premji knew your firm from the inside,
what would he say?
