N.R. Narayana Murthy and Truong Gia Binh Discuss Vietnam’s Future and the Foundations of Business Success”
Mumbai : In an insightful dialogue hosted today in Hanoi, Vietnam Mr. Truong Gia Binh, Founder and Executive Chairman of FPT Group, engaged with N.R. Narayana Murthy, founder of Infosys, who shared his visionary outlook on Vietnam’s future and the values that drive successful business leadership
Vietnam’s Bright Future
Mr. Murthy highlighted that that Vietnam, with its exceptional qualities of courage, confidence, hard work, and discipline, is poised to become one of Asia’s leading developed countries in the next 20-25 years. “Vietnam will achieve prosperity for its people more quickly than many other countries in Asia,” he emphasized, highlighting his confidence in the nation’s rapid growth. Mr. Murthy also expressed his respect for the courage, hard work, discipline, and ambition of many generations of Vietnamese people. He believes that many countries around the world need to learn from the creativity of the Vietnamese people.
Respect: The Cornerstone of Success
Mr. Murthy underscored the importance of delineating roles in the workplace, asserting that while colleagues can be friends outside the office, within, they must adhere to their designated responsibilities. He emphasized the need for clear boundaries in developing countries to ensure efficient business operations.
Reflecting on Infosys’ longevity, Mr. Murthy recounts how, since 1981, the company’s goal was to earn respect rather than just profitability. He emphasized that customer respect drives profitability and attracts top talent, while also highlighting the importance of gaining government trust. This clear separation fosters a respectful environment where businesses can thrive. “Respect from customers translates to profitability and attracts top talent,” he asserted.
Additionally, Mr. Murthy addressed financial issues, noting that many corporations become profitable but face increased costs that can lead to losses. “Finance is crucial; we must ensure that costs are reasonable and justified by business activities: expenses must be less than our earnings,” he explained.
Empowering Employees
Mr. Murthy emphasized the importance of creating favorable conditions for employees, advocating for empowerment, recognition, and freedom. “In my experience, money is not the most important factor—employees seek respect and appreciation for their abilities,” he said.
Apart from receiving education, he imbibed lessons of empathy and generosity from an early age. He mentioned that numerous global businessmen allocate up to 75% of their shares to junior employees, a practice Infosys also adheres to, demonstrating generosity towards its staff.
Furthermore, beyond leaders bestowing benefits upon their subordinates, employees themselves must uphold and protect the company’s resources. This principle forms the bedrock of his business philosophy.
Education and Entrepreneurship
Mr. Murthy attributed his success to his dedication to education and his entrepreneurial spirit. He recalled his modest upbringing and the crucial role education played in overcoming poverty. “If we don’t study, we can’t turn ambitions into reality,” he stressed.
“Entrepreneurial spirit is not determined by genetics; it is born from the desire within each individual, Mr. Murthy noted. He recalled his college days, where he encountered students much brighter than himself, yet not all of them pursued entrepreneurship. Mr. Murthy asserted that the entrepreneurial drive isn’t hereditary or solely influenced by family background; rather, it stems from the individual’s innate desire to seize opportunities. “While many family businesses thrive, there are also numerous instances of failure,” he further emphasised.
Mr. Murthy emphasized, highlighting the “entrepreneurial spirit” during his conversation and explained that entrepreneurs transform ideas into jobs, contributing to national development through their bold vision and actions. He also noted the vast potential of technology and its critical role in socio-economic life, driving a constant demand for tech products and services. “The need for technology is perpetual because it is always evolving,” Mr. Murthy stated.
He also stressed that tech companies must create unique value for customers and maintain standard information systems to meet partner requirements. Learning from competitors, seeking advice, and refining ideas are essential for success. High-growth businesses should focus on cost control, job creation, and worker welfare, while prioritizing green energy and reducing environmental pollution
In his dialogue, Mr. Murthy praised FPT and Vietnam for their uniqueness and potential in the software service industry. He lauded the visionary leadership and resilience that have propelled FPT to success, predicting even greater achievements in the future. “FPT and Vietnam have no rivals in their courage and aspirations,” he affirmed.
A Vision for the Future
Mr. Murthy concluded by sharing his ambition to address poverty through job creation, which he views as a pivotal role of businesses. Reflecting on his journey, he underscored the impact of entrepreneurship in driving socio-economic progress and improving lives.
This conversation highlighted the shared values between the two leaders and envisioned a future where respect, education, and entrepreneurial spirit accelerate growth and prosperity.