Bangalore, India - November 30, 2010:
Wipro Technologies Also Inducted into the “2010 Global MAKE Hall of Fame”
Wipro Technologies, the global Consulting, System Integration and Outsourcing business of Wipro Limited (NYSE:WIT), today announced that it has been recognized as a winner of the Global MAKE (Most Admired Knowledge Enterprises) Award 2010. Established in 1998, the Global MAKE Awards are administered by Teleos, an independent research firm based out of the UK.
This is the 4th time that the Company has been recognized among the top global organizations that are creating shareholder/stakeholder wealth by transforming new as well as existing enterprise knowledge into superior products, services or solutions. Wipro’s accomplishments in creating a knowledge driven culture, an environment conducive to knowledge sharing and in driving organizational learning have earned special commendation from the awarding authority. Wipro has also been inducted into the 2010 Global MAKE Hall of Fame.
In addition, Wipro has also won the Asian MAKE Award this year, thus earning the distinction of being the only Indian IT Company to win the award eight times in a row. Its capabilities in formulating knowledge management (KM) strategies and roll-out of enterprise-wide KM programmes for its customers have been further validated by the grant of a patent on KM by the US Patent and Trademark Office in February 2010 for “Business-aligned Knowledge Management System and Method for Creating the same.”
Rory Chase, Managing Director of Teleos, said "Global Enterprises with long-term and focused strategies in innovation, knowledge sharing and collaboration, and skills and competencies development invariably emerge in stronger positions across business cycles and scenarios. Wipro’s unwavering commitment to knowledge creation, use and re-use has certainly contributed to its exceptional competitive performance. "
Expressing happiness on the recognitions for Wipro’s knowledge initiatives at global, regional and national levels, Mr. Ved Prakash, Chief Knowledge Officer of Wipro’s Global IT Business said, “It is a matter of great pride to be a recipient of this prestigious global recognition. Wipro has always viewed Knowledge Management (KM) as one of the cornerstones of its people-intensive business and this award is a testimony to the contribution of various KM initiatives in the all-round success of the organization.
He further added, “This wouldn’t have been possible without active participation of all our employees and customers in creating a thriving culture of knowledge sharing and collaboration. Wipro has been helping its customers as well in formulating their own knowledge strategies and by sharing best practices matured over a KM journey of more than eleven years.”
The 20 Global MAKE Winners are chosen by a panel of Global Fortune 500 business executives and leading knowledge management and intellectual capital experts after several rounds of consensus building on key knowledge performance dimensions amongst the panel.
The Global MAKE study has found that knowledge-driven organizations significantly out-perform their competitors. The 2010 Global MAKE Winners trading on the NYSE/NASDAQ showed a Total Return to Shareholders (TRS) for the ten-year period 2000-2009 of 11% – nearly three times the average Fortune 500 company median.
Teleos is an independent knowledge management and intellectual capital research firm, administers the Most Admired Knowledge Enterprises (MAKE) program. The KNOW Network is a Web-based global community of organizations dedicated to achieving superior performance through benchmarking, networking and best practice knowledge sharing.
The MAKE research program, conducted in association with The KNOW Network, consists of the annual Global MAKE study - the international benchmark for world-class knowledge-driven organizations - and regional/national MAKE studies.
About Wipro Technologies
Wipro Technologies, a division of Wipro Limited (NYSE:WIT) is the first PCMM Level 5 and SEI CMM Level 5 certified global IT services organization. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application management, and datacenter managed services to corporations globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India, offering system integration, network integration, software solutions and IT services.
Wipro also has a strong presence in niche market segments of consumer products and lighting. In the Asia-Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS' are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange.
For more information, please visit our website at www.wipro.com
+ 1 (732).216.6242
+44 792 020 5496
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.