NR Narayana Murthy said this while underlining the importance of market research. (file)
Pune:
Infosys co-founder NR Narayana Murthy on Thursday said that there is a dearth of quality market research firms in India, due to which unicorns tend to overestimate opportunities and eventually report huge losses.
“One of the drawbacks in India at the moment is that we don’t have a company that specializes in quality market research,” said NR Narayana Murthy.
This leads entrepreneurs who have created unicorns to lose market opportunity and investments in venture capital funds, he said.
Speaking at an event organized by Symbiosis International here, NR Narayana Murthy said that companies end up spending much more than they should because of this and then see a turnaround in business.
He said, “…the reality sinks in at the end of the year. Your revenue hasn’t increased, but expenses have increased, resulting in huge losses for you.”
NR Narayana Murthy, while interacting with the students, underlined the importance of market research, saying that he had to close his first company, Softronics, founded in Pune in the late 1970s, due to lack of market research.
He said that it is very important for companies to earn the respect of all and underlined that if it is successful, it will get support from all important stakeholders.
NR Narayana Murthy said, “If you become respected, the government will treat you with great respect and you will not be a victim of any corruption, you will not have to do any unethical work.”
Admitting that he has not been successful in recruiting the right candidate from outside for a top leadership role at Infosys, NR Narayana Murthy said competency and values are the two essentials that hiring for top leadership should focus on. .
NR Narayana Murthy said that slogans like ‘Mera Bharat Mahan’ are mere words, and it is necessary that we all perform to ensure that we achieve greater heights.
“If we want India to be an economic performer, if we want India to be an economic powerhouse, there is only one cure – every Indian should work hard, show discipline, act quickly as There is no tomorrow… Just saying ‘My India is great’ and all these are just words, they have no value.
Murthy said, “The only cure for poverty, lack of respect (and) … being a country from the so-called ‘South’, is to perform.”
He asked the students to be good citizens, be honest, seek justice for themselves and others and do everything that would bring glory to the country.
Murthy also said that he is yet to find a single educational institute, which does not focus on rote learning. It is essential to develop critical thinking in the early years in school.
“As long as teachers continue to monologue in the classroom, we will not be doing the right thing,” he said.
(This story has not been edited by NDTV staff and was auto-generated from a syndicated feed.)
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