IIM Joka’s 50th annual convocation struck a heartwarming note.

Alumnus Indra Nooyi, Chairman and CEO of PepsiCo, who graduated in 1976, requested the graduating students to stand up, turn around and thank their parents who occupied the rows behind them - a beautiful expression of gratitude before they embarked on their new journey.

The Quint shares excerpts from an outstanding chief guest’s speech.

As you conclude your business education, I am reminded of an old story about a new MBA and his father who went on a camping trip together. After hiking all day, the two men arrived at their campsite, set up a tent and fell asleep.

Some hours later, the older man woke his son, the new MBA. “Look up at the sky,” he said, “and tell me what you see.”

The MBA replied, “I see millions of stars.”

“What does that tell you? “ his father asked.

The MBA, remembering his education, pondered for a minute. “Astronomically speaking, it tells me that there are millions of galaxies and potentially billions of planets. Astrologically, it tells me that Saturn is in Leo. Meteorologically, it seems we will have a beautiful day tomorrow,”The MBA then turned to his father.”What does it tell you?”

The father was silent for a moment, then said, “I think that someone stole our tent.”

I love this story for two reasons. First it demonstrates that an MBA transforms the way you view the world. The degree you are receiving today illuminates new approaches to every situation.

Second, as the father reminds us, you all need to see details as well as the big picture. You can’t overlook what is right in front of you.

My batch was the first to graduate from the Joka campus. We were 100 students and I was one of only five women in my class. There are more than 100 women graduating today. In the last 40 years the landscape has changed entirely.

A number of us here today are entering the sunset of our careers. We are counting on you to make our golden years peaceful. Bill Clinton put it so well, “I have more yesterdays than tomorrows. You have got more tomorrows than yesterdays. And you better show up.”

Some of you may be familiar with the old career maxim: “learn, earn and return.” It’s the idea that successful people spend the first third of their lives developing the skills of their chosen trade, the second third maximising their earning potential, and the final third of their lives giving back through charity and mentorship of the next generation.

Today, that model is outdated.

To make an impact in a complex and fast-changing world, you must learn, earn and return – simultaneously – at every stage of your career.

I’ll begin with Learning. You are a student for life.

While you have been taught how to balance a budget you have yet to balance delivering short-tern results with long-term performance at a company.While you have been taught how to manage operations, you have yet to manage the ambiguity of today’s business world.While you have been taught how to market products to consumers, you have yet to market yourself within a global and ever-changing marketplace.

You know a great deal, but there is far more you don’t know. So stay humble. Be curious. Read voraciously. Volunteer for hard assignments and be willing to learn.

I got to be a CEO, and more importantly, I’ve stayed a CEO because I am a lifelong student. You must continue learning as you go - and that will determine where you go.

As for Earning, you are entering a world where money looms large. But you must never let your net worth define your self-worth.

If you follow money in your career, you are likely to find it. But if you follow passion, regardless of the money, you will find something more.You will find fulfillment and inspiration that will propel you further than the promise of a big payday ever could.

And you will likely find money too.

So I urge you to first find your purpose. What do you want to create in the world that isn’t already there? What product, technology or service would make life better for people, and how can you make it a reality? If you can solve a problem or improve a life, even in the smallest way, your career will be worth more than any currency.

My proudest accomplishment at PepsiCo is a company-wide vision I instituted when I became CEO called Performance with Purpose. This is our commitment to delivering strong financial results through sustainable business practices. We understand that long-term growth is contingent upon a healthy relationship between a company, its community and its consumers.

To quote Henry Ford, “A business that makes nothing but money is a poor business.”

And that leads me to the final piece, returning. This is not your accomplishment alone. It also belongs to your parents and loved ones. Call and visit them regularly. Don’t tell them you are too busy. You are not. I run a Fortune 50 company and I still call my mother 2 or 3 times every day.

You can honour your upbringing by giving back to the towns and regions where your journeys began. Make it meaningful, make a difference. Finally at this pivotal moment in the history of your country, you must give back to India.

To make a lasting impact, you must give as much as you have received.