Infosys Saga – What Startups Infer from this Corporate Crusade
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Infosys has been one of the most successful stories of the India technology story. The founders of the tech giant, headquartered in Bangalore, have in their own, niche way have lent their support to the startup ecosystem.
Founders of the company have launched their own venture funds, mentored and also led government-backed initiatives for India over a period of time.
Today, Infosys is grappling with an ongoing corporate crusade, wherein CEO Vishal Sikka and his team are being questioned regarding crucial elements of corporate governance.
Though the startup ecosystem is alarmed, it also has some crucial takeaways from this Infosys episode –
Muki Regunathan, Cofounder – BookMyTime, said that the ongoing issue is not shocking but sort of expected.
You need to let go all of that you have created!
According to him here’s what startups could learn from this episode –
- Be open that one day you need to let go of all that you have created.
- Letting go many times will take your company forward and it is good for everyone.
- Set goals and review them constantly. If anyone can run the company like you do then it will stagnate.
- To let go is not human, it requires courage and faith.
- To accept others and to define new rules with the old system requires oneness.
- The past can teach us but it cannot sustain us. The essence of life is change, and we must move forward and find new ways of solving the old problems
Next generation leaders
The country has witnessed a broiling feud at the Tata Group last year, wherein Cyrus Mistry was ousted by the board of directors. Startup founders feel that when a new generation of leaders take over from the older lot, leadership modules are bound to change in the organization.
Startups are usually the creation of a specific individual, or a group of people who come together to work on a common goal. However, when a startup takes the big leap, transforming into an organization with thousands of employees, it becomes essential to identify and train the next generation of leaders, who can continue to ensure success for the company. Lack of clarity on this can lead to issues that can be seen currently with companies like Infosys and Tata Sons,” Pankaj Bansal, Founder and CEO, Newspatrolling.com said.
Recently, the ecosystem also saw startup cheer leader Flipkart turn to lead investor Kalyan Krishnamurthy to take up the CEO position at the organization.
Whatever the end result of the ongoing saga is, startups will have a lot of takeaways on how they should or should not tackle management related issues at their organizations.