30 lessons from life and career of NR Narayana Murthy

Source: The Economic Times: Most read articles.

NR Narayana Murthy , who steps down as Infosys chairman on August 20, is a role model for not just what he achieved but also how he did it. Here are 30 lessons from Murthy, one for each year he spent at company.

Seize Your Gandhi Moment
Murthy, a self proclaimed socialist in the mid ’70s was jailed for 72 hours in Bulgaria. The experience taught him that entrepreneurship and job creation is the way to alleviate poverty.

You might fail, but get started
Learn from mistakes and move on. In 1976, Murthy founded Softronics, a company that lasted a year and a half. When he realised that his first venture wasn’t taking off, he moved on.

Think Big. Don’t Hesitate to Start Small
In 1981, a determined Murthy started Infosys with Rs 10,000 he borrowed from his wife. In few years, Infosys went on to become one of the largest wealth creators in the country.

Cut Yourself a Slice, Not a Large One Always
When Infosys was set up, Murthy took a pay cut while salaries of other co-founder’s were increased by 10 percent. According to Murthy, a leader needs to show his or her sacrifice and commitment.

Finding the Tea!

My poor wife was sick in bed with the flu. Being a dutiful husband, I offered to fix her some of her favorite herbal tea. I couldn’t find the tea though and went back upstairs to ask where it was.

She said, “I don’t know how it could be any easier to see. It’s in the pantry, third shelf down, in a cocoa tin marked ‘matches’ !!!

Shott vs Nott

Remember “Peter Piper picked a peck of pickled peppers” rhyme? Here is a new one to try. Enjoy!

Shott Versus Nott

A duel was fought between Alexander Shott and John Nott. Nott was shot and Shottwas not. In this case it is better to be Shott than Nott. Some saidthat Nott was not shot. But Shott says that he shot Nott. It may be that the shot Shott shot, shot Nott, or it may be possible that the shot Shott shot, shot Shott himself. We think, however, that the shot Shott shot, shot not Shott, but Nott. Anyway, it is hard to tell which was shot and which was not!

When Governments Can’t Print Money!

By – SWAMINATHAN S ANKLESARIA AIYAR, The Economic Times

The inability of countries to print their way out of debt is something markets have reckoned with only recently

We are used to the notion that companies can go bust for want of cash but not governments, since the latter can print money without limit. This may cause high inflation or even hyperinflation (as in Russia under Yeltsin or Germany in the 1920s). But as long as governments can print currency, they can spend and borrow without limit. Right?

Wrong. The panic in financial and stock markets across the globe last week reflected the growing realisation that neither the US nor major European governments can print money without limit to finance government bond issues, and so could default. The US Constitution says both houses of Congress must approve any increase in the government’s borrowing limit (or debt ceiling). If either house says no, the government cannot issue more bonds, and cannot ask the Fed to print money to buy forbidden bonds.