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Wipro

Wipro

Tagline

Applying Thought

Net Worth

$76,000,000,000

Started in (City)

Bangalore

Started in (Country)

India

Incorporation Date

29th December, 1945

Bankruptcy Date

-

Founders

  • : Mohamed Premji

About

WIPRO is the third largest company in India. Head office located in Bangalore, Karnataka. Wipro limited is an ever growing and diversifying global company that manufacture and sell product and services from cooking oil, soap, health care instruments and information technology consultancies. In 2013 Wipro separated its non-business and farmed the privately owned Wipro enterprises. The company started on 29, December 1945 in Amalner, Maharashtra by Mohamed Premji. Wipro first named as Western Indian Palm Refined Oil Limited later in 1982 in abbreviated as WIPRO. It was set up as manufacturer of vegetable and refined oil in Amalner, British India. The company sold vanaspati solidified sunflower oil to the retailers in 1947 the same year that Indian government got independence.

Beginning

The Wipro is the third-largest company in India. The company head office is located in Bangalore, Karnataka, India. Wipro Limited is an ever-growing and diversifying global company that manufactures and sells products and services from cooking oil, soap, health care instruments and information technology consultancy. In 2013 Wipro separated its non – It business as formed the privately-owned Wipro enterprises. The company was started on 29, December 1945 in Amalner, Maharashtra by Mohamed Premji as “Western Indian Palm Refined Oil Limited”, later in 1982 it abbreviated as Wipro. It was initially set up as a manufacturer of vegetable and refined oils in Amalner, Maharashtra, British India. The company sold Vanaspati solidified sunflower oil to retailers. In 1947, the same year that India gained independence from British rule, 32-year-old Premji laid the foundation of vegetable oil mill at Amalner in Maharashtra, when Pakistan prime minister offered him a position as Finance Minister he turned it down, by saying that his loyalty to India and his upcoming cooking oil business. Premji continued his political career along with his business. He became the first Indian chairman of Bombay Electricity Board and a board member of the Reserve Bank Of India, the state bank of India and life insurance of India. In 1966, Mohamed Premji died due to heart attack, his son Azim Premji took over the Wipro as its chairman at the age of 21 by leaving his unfinished studies in engineering at Stanford University in the United States and returned home to India toke over the business.

Road to Success

During the 1970s and 1980s, the company shifted its focus to new opportunities in the information technology and computing industry which was at an upcoming stage in India at the time, Wipro continued to expand in the consumer products domain with a launch of Ralak a Tulsi based on family soap and a toilet soap Wipro jasmine. Wipro added in its line of product mobile hydraulic cylinders and heavy-duty industrial cylinders in the year of 1988. In 1990 the santoor talcum powder and Wipro baby soft range of baby toiletries. They set a design center Odyssey twenty-one for the project of overseas clients during 1995. In 1999 acquired Wipro Acer the product was one Indian PC range to obtain United states based NSTL certification for the year of 2000 compliance in hardware for all the models. In February 2020 Wipro acquired rational interaction, a Seattle-based digital customer experience consultancy. On 2000 the company introduce Wipro OSS smart and Wipro WAP smart. At the same time, they also listed on the New York Stock Exchange. During July 2021 company launched 5G edge services solution suite built with IBM software system. The company become the first software technology and services company in India to be IOS 14001 certified in February 2002. As the company develop, the Wipro was the fastest wealth creator for five years that’s from 1997 to 2002. On 2004 company joined with the billion-dollar club. In the year of 2008, the company entered into the clean company energy business with Wipro Eco energy. In April 2011 company an agreement is signed with SAIC for the acquisition of their global and gas information technology practice.

Challenges

Tech major Wipro anticipates tough challenges in the global marketplace that witnesses rapid technological changes and changing client preferences. The company said its future success would depend on its ability to anticipate challenges in advance, enhance its existing service offerings and develop new product and offerings to meet changing client requirements. Stressing the importance of cost management, it said any failure to cope with the evolving IT environment, particularly Internet of Things, Artificial Intelligence, cloud computing, etc., could have an adverse effect on the company. “Our business will suffer if we fail to anticipate and develop new services and enhance existing services in order to keep pace with rapid changes in technology and the industries on which we focus,” the tech major said in its annual report. The company said it would be unsuccessful in stimulating customer demand for new and upgraded products, or seamlessly managing new product introductions or transitions, if it failed to quickly respond to market changes.

Failures

IT major Wipro is faced with a class-action lawsuit in the US from one of its former employees, an Indian national, who has alleged that the company did not pay his wages for overtime services, which was in violation of labour laws. Elaborating on possible risk factors, the company in its stock market filing said, “Our failure to address the demands of the rapidly evolving information technology environment, particularly with respect to digital technology, the Internet of Things, Artificial Intelligence, cloud computing, storage, mobility and applications, analytics, augmented reality, automation, blockchain and quantum computing could have a material adverse effect on our business, results of operations and financial condition.”

Achievements

  • Wipro In 2018 received ATD best of the best award.
  • 2017 Wipro recognized as one of the world’s most ethical companies by US base Ethisphere institution for six consecutive year.
  • The company ranked second in news week 2012 global green companies
  • May 2016 Wipro was ranked 755th on the Forbes two Global hundred lists.
  • Wipro entered into technology business in 1981.
  • 1,60,000 Employees and Clients across 110 Countries.

Subsidies

  • Wipro Enterprises Limited
  • Wipro GE Medical System Limited
  • Western India Products Limited

CEOs

  • Thierry Delaporate
  • Abidali Neemuchwala