Speech of Anil Ambani

This is Anil Ambani's speech at this year'sconvocation at ISB. Quite thought provoking andpeppered with humor.

At the outset let me reverse the instructions given toyou at the start of the ceremony... please switch onyour mobile phones. See, I also have to work for mycompany.

I believe you need to have a special relationship withgod, that not too many individuals in their life timescan have opportunities of creating world-classinstitutions like the ISB from the cradle. And Ithought and I firmly believe, that this was a trueopportunity for me, personally, to contribute in myown personal small way to creating a greatinstitution. So, I am thankful to God. This schoolwould not have been here, if it was not for twospecific individuals, specially, amongst severalothers. One, the fountainhead, the visionary, thedreamer. That is Rajat Gupta. And two, if it was notfor the unstinted, unconditional support of one of ourmost dynamic chief ministers that India has seen, theChief Minister of Andhra Pradesh, Sri. N ChandrababuNaidu.
When I was called a few weeks ago by Rajat, that hewanted me to be the chief guest for today's function,I mentioned to Rajat, that it would be practicallyimpossible for me to be here, since I had already pre-committed to another convocation and in the truemanagement consulting style, Rajat asked me 'what timeis that'? I said it is in the afternoon, then he said,fine, then we will have our function in the morning. Ihave the rare privilege and the honour of being partof two convocation functions on the same day andluckily in the same country. Otherwise I would have toborrow Deepak Jain's flying carpet. This morning, I amhere in Hyderabad at the ISB, and this afternoon I amat Indian Institute of Management, Bangalore for theirconvocation function. I am not, as yet, a paid Chiefguest or paid speaker. But at least this gives me anidea for alternate career in the future.

I had one of my colleagues talk to Vijay, the daybefore yesterday night at 9.28 pm to ask him and gethis views of what Mr Ambani will speak about? Afterhaving Dr Kalam, who was not President of India at thetime, when he attended the ISB, but became president Ibelieve later, and my good friend Kumar Birla, lastyear, I think that his being the chief guest at theISB really brought him to focus and limelight and hehas won probably every award post that event.
I was joking with Kumar and telling him that either wehave to invent some new award category, we can alwaystake inspiration from our film world, who has an awarda week; or he should stop accepting new awards so thatlesser mortals like us can also get them. After havingDr Kalam and Kumar speak to you, after hearing Vijayand Rajat, both of them have successfully communicateda large number of my thoughts and had spoken my mind,frankly there is nothing much more for me to add. WhatI thought that I will not talk about leadership,leadership styles because over the last one year asyou been through the programme, you had enough ofshowcasing of everything that potentially I learnt,that you have learnt at the business school.

For considering the fact that we are in Hyderabadtoday and ISB is at Hyderabad, it really is a strongendorsement for the fact that just 125 years ago,Sarojini Naidu, one of our greatest leaders, orator,poetess, who was born in Hyderabad in 1879, had toreally travel to Madras to pursue her schoolingeducation. There was no education infrastructure inHyderabad. And of course, amongst many things now,Hyderabad also boasts of the ISB. It then takes mythoughts to women in business and women in politics.

If Sarojini Naidu played a key role in the freedommovement of the country, and today in vast number ofstates, if we have women chief ministers, we had womenprime minister, not only in India but in the region.The leader of the opposition in Parliament, Smt. SoniaGandhi. Then why is it, we do not have women wellrepresented in the corporate world? And I start withthe fact that, we do not have enough women enteringbusiness schools.

I was looking at the statistics, which showed thatclose to 17% of the graduating class today is women.Let us just compare this to a lesser known schoolcalled Harvard, the class of 2005, more than 35% ofthe graduating class is women, more than double, theclass size is much much larger than where we aretoday. I said a lesser known school called Harvard,primarily because, I believe Rajat comes from Harvard,and I come from a better known school called Wharton.

I clearly believe that women, especially youngerwomen, have a very large responsibility and have toaim for the future as the future generations are notgoing to distinguish between men and women.

The second thought that really struck me was the powerof youth. It is the young power of India that isreally put India on the global map. When we talk IT &IT Enabled Services, the average age of the people whoare serving that sector is 26. Why is it that the bestand brightest of our people, do not want to joinpolitics. Is that changing? I feel the sense that ischanging.. Let us take the newer entrants to politics.

Sachin Pilot, a Wharton MBA, Omar Abdullah,Jyotiraditya Scindia, an MBA from Stanford. These areall people who are turning to politics and may be,their fathers have been in politics, so they areturning to it. After the education, they really hadthe choice of every possible alternate career theycould think of. And why do we really need youngerblood in politics? I have recently looked at the LokSabha website - 72% of the members of Lok Sabha areover the age of 50. More than 50% are over the age of60. More than 25% are even older. Let us contrast thatwith 75% of the population really being under the ageof 40.

As you think and I think and all of us put our mindstogether, we are talking about effectively runningorganisations in the future. Can we all really excelin what we are doing if we really do not have aconducive and vibrant and booming externalenvironment? Can we truly grow? Can we truly evolvesimultaneously both internally and externally?

In this case, internally I mean institutions,organisations, companies, and corporations. ExternallyI am referring to our political environment. And I dothink this as a large challenge, a challenge that allof us will have to face, we will have to contributetowards this. If there is one thing I would like to dowith the advancement of technology, I want to rewind,instead of graduating in 1982, from Wharton, reallygraduate in 2004 with all of you.

The world has changed, so has India. The opportunitiesthat bring with them the challenges, the trends are sodifferent, that I could not have imagined in mywildest imagination, when I graduated from Wharton,this is where our country is really going to be. So Ibelieve that all of you are very privileged and veryprivileged children of God, that you are here at oneof the most exciting times, this country has seen. AndIndia is clearly on its way to gain it's rightfulplace of being an economic superpower.

All of you are already armed with a lot of detailedunderstanding and lot of management and organisationaltechniques, that are really are needed in the newworld. But let me make a few observations. Compared tothe past, all of you will live much, much longer -this is the contribution of the rapid pace of science,that all of you are going to have a much longerworking life. Also you are living in a borderless,seamless, techno world, where opportunities reallyknow no boundaries.

This is the era of intellectual capital. Intellectualcapital is change. With these challenges, these newrevolutions, what you should be ready for really isCompetition at the individual level, at the familylevel, institution level, and country level, canreally come from anytime and anywhere, and this is nolonger local, global and original. The longer workinglife, longevity, your ability to live till 75 or 80will also mean that career planning and your choiceswill have to be made many, many times as you grow to70 and 80. So I don't believe there is going to beretirement at 50 or 55. This will mean that skillswill get redundant extremely fast. And they will haveto be replaced as quickly. This undoubtedly puttremendous pressure on each one of us. Lifestylechange, the faster pace of living also posestremendous pressure on individuals, creates bothconstructive and destructive tension leading to highstress. So that the importance of mental and physicalfitness and balanced life, I think will also beextremely important.
I would be really failing in my comments today, if Idid not share with you, what I call-"Conversationswith Dhirubhai". Because, if it was not for him, hisvision, his commitment and his dreams, Reliance and I,my brother Mukesh would not exist. I recall it was13th December,1982, when I landed back in to Bombay,now Mumbai, after graduating from Wharton.

I ran through some summer programmes for extra creditsand graduated in 14 or 15 months, through I was fromClass of 1983, actually I graduated in 1982. On myarrival I met him and I told him, Look dad, I becomean MBA, and I just going to take a break as I reallyworked hard, and I will see you in new year. He saidto me, I am very happy and delighted that you accomplished this, but since I did not go to anyformal school or college, I do not have any degree,why don't you tell me, from your learning at Wharton,what does an MBA stand for?
I thought that was a rather simple and easy question,Master of Business Administration, nothingcomplicated. He said in his inimitable style and hesaid to me in Gujarati, so I will say in Gujaratifirst and will translate if in English, for you. Hisinterpretation of MBA was "Mane Badhu Avadche"literally meaning "I am know all", I know everything.

He said, you are entering into India, and you need toIndianise your MBA. I said, That's fine, I am going towork here. So naturally that would not be a very, verybig issue. He said, did they at Wharton School teachyou about Customs duties, about excise duties, aboutincome tax, about sales tax, about Parliament, and Isee in the audience, a former Member of Parliament,Sri Kamal Choudhary, whom my father knew rather well,said that, do you know what is zero hour question,what is a calling attention motion, what is starredquestion and unstarred question?
If you don't really get to know all these things, letme assure you, all your formal education is not reallygoing to help you. You need your practical Indian MBA.And I am going to go and create that environment foryou, so that you can get the exposure. He went on thento ask me, Tell me , since you are fresh a MBA, justentering corporate life, what is the definition of aleader? I said, I really forgotten all my books backat Philedelphia and have really no mindset today totalk about theoretical definitions.

He said, it is pretty easy for you, just admit thatyou do not know what the definition is. So I said tohim, let us assume that I do not know the definition,why don't you tell me, since you have all the answersto everything, who is a leader? He said in hissimplistic style that is a leader is a person who canattract followers. If you think you are a leader,please look back, when you are walking. If there isnobody following you, you are not any leader of anytime. Very simplistic, but with a very deep-rootedmeaning.

Then he went on to say, you are entering Reliance. Iam the trustee of over 3.6 million individualshareholders, who are the real owners of Reliance.Anil, you have really a choice. You have the choice todemand respect, you have a choice to command respect.You choose. Your demand respect mode will be, you arean Ambani, you are Dhirubhai's son. So people willhave to listen to what you have to say. Your commandrole is really based on your skill sets, yourattitude, your upbringing, and your knowledge onissues. That is what will carry people with you.

But you still have that choice to make as you enterthe corporate life. And I would highly recommend toyou that you follow the command the respect moderather than demand respect mode. These are verysimplistic messages to me given to me more than 25years ago, are still very deep in my mind, my heartand my soul. I asked him, saying, I have had enoughbombardment this morning from you, everybody tells methat your father is a great visionary. Can you explainto me what do you think is your definition of being avisionary?
He looked at me and said, I do not know whether youeven will understand what I am going to say, becauseyour are an MBA, and I am MABF. I looked at him withsome puzzlement, and said, I have heard of FRCS, MBBS,MBA, Bcom, B.A, LLB, but never heard of MABF, what'sthat degree, knowing fully well he has no degree. Hesaid, Metric Appeared But Failed.
He then went on to say that, Anil, I am very, verygrateful to God. And he was, a very, very strongbeliever in God. God has been very, very kind to meand he has given me the power and ability to dream.The difference between your dreaming and my dreamingis very simple. Everyone of us dreams. There is asmall difference between the way we dream. God hasgiven the power to dream with my eyes open.

Dreaming with my eyes open, I have a better chancethan you to convert my dream into a reality. For you,to dream with your eyes closed, you have a lesserchance to make it into a reality, but a much higherchance to convert it into a nightmare. He saideverybody talks about karma, and everybody talks aboutdestiny. Let me tell you that destiny, fate is not amatter only of chance, it is also a matter of choice.And in my father's words, for all of you, all of us inIndia, I believe if you can dream it, you can do it.