A Successful Entrepreneur: Azim Hashim Premji

6129 Words Oct 14th, 2010 25 Pages
1. Entrepreneur Profile: Personal & Business
A. Personal
Premji was born on July 24th 1945 in Bombay (now Mumbai), India, to a Gujarati Khoja Ismaili Shia Muslim family. Azim H. Premji was born to M.H. Hasham Premji. His father M. H. Premji owned the Western India Vegetable Product Company (which later became Wipro Ltd.) which made hydrogenated vegetable oils and fats. His grandfather was the rice king of Burma. His father had declined an invitation from Muhammed Ali Jinnah to go to Pakistan. Premji attended St. Mary`s School I.C.S.E. in Mazagaon, Mumbai. While he completed his initial education at St. Mary's School, Mumbai, Premji was forced to leave his studies in electrical engineering from Stanford University, California, USA. He was
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Wipro (an acronym of "Western India Pine Refined Oil") started as a vegetable oil trading company in 1945 from an old mill at Amalner, Maharashtra, India founded by Azim Premji's father. When his father died in 1966, Azim, a graduate in Electrical Engineering from Stanford University, took on the leadership of the company at the age 21. He repositioned it and transformed Wipro (Western India Palm Refined Oil Ltd) into a consumer goods company that produced hydrogenated cooking oils/fat company, laundry soap, wax and tin containers and later set up Wipro Fluid Power to manufacture hydraulic and pneumatic cylinders in 1975. That’s why the story of Wipro’s success is became the business profile of Azim Premji. At that time, it was valued at $2 million. In 1977, when IBM was asked to leave India, Wipro entered the information technology sector. In 1979; Wipro began developing its own computers, and in 1981 started selling the finished product. This was the first in a string of products that would make Wipro one of India's first computer makers. Wipro Technologies hired managers who held their employees to strict performance standards.
In 1980 Wipro moved into software development and started developing customized software packages for their hardware customers. This expanded their IT business and subsequently developed
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