The Unusual Billionaires

This book had been on my to-do list for quite some time, and finally, I was able to accomplish the task. Needless to say, it's a very insightful book, literally taking you back in time and allowing you to see how some of the great companies have evolved, what makes them great, and how to identify such gems (in stock market investors' parlance, the multi-baggers).

Saurabh Mukherjea discusses the success stories of eight Indian companies and their founders. Some of the unique traits of each of the companies are listed below:

Asian Paints: Seven decades of excellence

• Founders: Champaklal H. Choksey, Suryakant C. Dani, Arvind R. Vakil, and Chimanlal N. Choksi.
• Asian Paints' success lies in its strong distribution network and brand.
• The company has a focus on product innovation and customer satisfaction.
• The founders emphasized quality and operational efficiency.

I can vouch for Asian Paints as a happy customer, in the span of 10 years have painted my entire house using Asian paints. They stand out in quality, variety, and availability.

Berger Paints: 250 Years in the making

• Founder: Lewis Berger.
• Berger Paints' success is attributed to its innovation in products and processes.
• The company emphasizes customer-centricity.
• Berger Paints has a legacy of strong leadership.

Page Industries (Jockey): Jockeying from Manila to Bangalore

• Founder: Sunder Genomal
• Page Industries found success through its exclusive license to manufacture Jockey products in India.
• It followed a disciplined and focused approach to brand-building.
• The founders emphasized ethical business practices.

The first time I knew about this company was when I was exploring for good stocks in the stock market, I was shocked by the share price. I used to wonder who would buy this stock. After reading the book, I regretted what a gem this is and I missed it. I knew the brand Jockey much before the company :).

Axis Bank: Confounding the skeptics repeatedly

• Axis Bank's growth is tied to its customer-centric approach.
• The bank's founders established a culture of risk management.
• It focused on technology and customer service.

HDFC Bank (under Aditya Puri's leadership):

• HDFC Bank's success is attributed to Aditya Puri's leadership and vision.
• The bank prioritized risk management and maintaining a strong balance sheet.
• It invested in technology to enhance customer service.

I am a customer and investor in this company and have not been happy in recent times. The stock has been a laggard in the stock market, despite some good numbers. It is one of the highest-earning companies on the street. I'm hoping that some synergy benefits will yield from the recent merger with HDFC in the coming days.

Marico: From commodity trader to FMCG giant

• Founder: Harsh C. Mariwala.
• Marico's success came from its focus on the consumer and product innovation.
• The company had a strategy of entering underpenetrated markets.
• It established a culture of entrepreneurship within the organization

Titan Company:

• Founder: Xerxes Desai.
• Titan Company succeeded through innovation and diversification.
• The company's founders emphasized product quality and design.
• It adapted to changing market dynamics and consumer preferences.

I am a happy investor in this company

Astral Poly Technik: To the brink and back

• Astral Poly Technik's success is tied to its focus on product quality and innovation.
• The company invested in research and development.
• It established strong relationships with customers and distributors.

I can recommend them as a customer because they are the best in the market. The story of Astral is nothing short of a thriller. The way the company rose from the ashes like a phoenix shows the mettle of an entrepreneur and the belief in the vision, which are important for achieving success

In the book, Mukherjea explores the unique strategies, philosophies, and management approaches that set these companies apart and allowed them to achieve exceptional results in the stock market. Each company's success is attributed to a combination of factors such as visionary leadership, innovation, customer-centricity, and a focus on long-term value creation. Readers can gain deeper insights into these companies and their founders by referring to the book for a more comprehensive understanding of their unique secrets to success.

Some Mental models and principles from the book.

1. Long-Term Focus: Prioritizing long-term value creation over short-term gains is a recurring theme in the book. Successful billionaires maintain a patient approach to investing and business growth.
2. Economic Moat: The concept of an economic moat, inspired by Warren Buffett, is emphasized. Companies with a durable competitive advantage and strong barriers to entry are preferred.
3. Quality Over Quantity: Successful investors and businesses focus on high-quality assets and opportunities rather than diversifying excessively.
4. Financial Discipline: Conservative financial management, prudent capital allocation, and a focus on cash flows are crucial for long-term success.
5. Conservative Debt Management: The billionaires featured in the book tend to avoid excessive leverage and prioritize maintaining strong balance sheets.
6. Market Leadership: Many of the billionaires' businesses are market leaders, benefiting from market dominance and pricing power.
7. Founder-Centric Approach: Visionary founders play a pivotal role in shaping the companies and ensuring their continued success.
8. Corporate Governance: The book underscores the importance of good corporate governance practices in building and maintaining investor trust.
9. Sustainable Growth: Rather than chasing short-term profits, these billionaires prioritize sustainable growth and building businesses that can endure over time.
10. Value Investing: Some of the principles of value investing, such as buying undervalued stocks and focusing on intrinsic value, are evident in the book.
11. Frugality and Efficiency: The importance of running a lean and efficient operation is highlighted as a way to maximize profitability.
12. Innovation: While a long-term focus is crucial, successful billionaires also invest in innovation to stay relevant and adapt to changing market conditions.
13. Scalability: Many of the businesses discussed in the book have successfully scaled their operations, often leveraging technology and efficient processes.
14. Consumer-Centric Approach: Some billionaires prioritize understanding and catering to consumer needs and preferences to drive business growth.
15. Margin of Safety: The idea of having a margin of safety when making investments is mentioned, reducing the risk of capital loss.

Saurabh Mukherjea introduces the concept of the "Coffee Can Portfolio." This portfolio approach is derived from a historical investment practice that was inspired by the way people in the Old West used to store their valuables in a coffee can buried in the backyard. The Coffee Can Portfolio is essentially a long-term, buy-and-hold investment strategy that emphasizes simplicity, patience, and minimal intervention.

There is a website that I used to screen stocks, You may also check it out. Screener.

There is a ready-made screener, called "Coffee Can portfolio". Below is the query

• Sales growth > 10% AND
• Sales growth 10Years  > 10% AND
• Return on equity > 15% AND
• Average return on capital employed 10Years > 15% AND
• Market Capitalization > 1000

While you may get a good list of stocks when you run that query please note there is no guarantee that each of those stocks is good. You will need to do a thorough analysis and there are many other metrics one needs to look into before deciding on investing in a stock.

Disclaimer: This post is not a recommendation to buy any stocks. Please do your own research before buying any stock.

Bonus Trivia: There is a term in stock market fraternity for the blue chip stocks like those mentioned in the book. Its called 'BAAP' stocks. BAAP stands for Buy At Any Price.

Psychology of Money

This is one of my favorite books, and I recommend it to everyone I know, urging them to read it at least once in a lifetime. I enjoyed reading it so much that I couldn't put the book down and finished it in record time. Allow me to summarize this book here in the hope that it may also influence some of you to read it.

I was so much inspired by this book that I am following Morgan Housel on Twitter and I keep retweeting the learning from the book in my Twitter feed.

The book explores the complex relationship between human psychology and financial decision-making. It's structured around key principles and anecdotes that shed light on the various ways people approach money and wealth. Lets get into some key learning from the book.

The Importance of Behavior: Can't emphasize more that the most critical factor in financial success is not intelligence or financial knowledge, but behavior. Understanding one's own psychology and behavioral biases is crucial for making sound financial decisions.

The Power of Compounding: Compounding has an extraordinary impact over time. Small, consistent investments can grow significantly when given time to compound. Warren Buffett is a living example, who became a billionaire through the power of compounding.

Here, I am quoting something from 'Atomic Habits' that is relevant and exemplifies the concept of compounding: 'If you get one percent better each day for one year, you'll end up thirty-seven times better by the time you're done.' This is why small choices don't make much of a difference at the time but add up over the long term. - James Clear

Risk and Uncertainty: While risk can be quantified and managed, uncertainty is unpredictable. People often underestimate the role of uncertainty in financial markets and make poor decisions as a result.

Housel also uses the story of Alfred Winslow Jones, who is credited with creating the first hedge fund, to explain the concept of risk-adjusted returns and the benefits of diversification.

The Importance of Saving: The book stresses the significance of saving money, even if it's a small amount. Housel cites the story of Ronald Read, a janitor and gas station attendant who amassed a multi-million dollar fortune through consistent saving and investing.

The Role of Luck: While many people don't believe in luck, Housel argues that luck plays a significant role in financial success and that many successful individuals owe part of their prosperity to luck. Recognizing this can help people avoid overconfidence and make better decisions

I believe in GOD, that helps me to be more grounded. Housel shares the story of Richard Fuscone, a millionaire who went bankrupt because he borrowed heavily to invest in risky ventures. This illustrates the dangers of excessive leverage and overconfidence.

The Influence of Herd Behavior: Housel discusses how herd behavior and the fear of missing out can lead to poor investment decisions. He uses historical examples, such as the dot-com bubble and the housing market crash, to illustrate the dangers of following the crowd. 

This is something I feel is the strong reason why a lot of fin-fluencers fleece on gullible people. These people always create a sense of urgency amongst people and they lure people into subscribing to their classes/workshops or the stock tips. The book references the financial market's emotional roller coaster, particularly during times of extreme optimism and pessimism, as seen in the 2008 financial crisis and the Bitcoin boom.

The Value of Time: Housel highlights the concept of "getting rich slowly" and the patience required for long-term financial success. He provides examples of individuals who built wealth over decades, emphasizing that quick riches are the exception, not the rule.

There is the case of Chris Sacca, a successful venture capitalist, who initially struggled with investing due to impatience. Sacca's early investment decisions serve as a lesson in the importance of time and patience.

Mental Models: Some mental models that can serve as good tools for better decision-making are below.

1. Compounding: The power of compounding is a fundamental mental model in the book. Understanding the exponential growth of money can encourage individuals to save and invest wisely.
2. Margin of Safety: Borrowed from value investing, the concept of a margin of safety involves making financial decisions that leave room for error or unexpected events. It's a mental model that encourages cautious and conservative financial planning.
3. Time Horizon: Housel discusses the importance of considering your time horizon when making financial decisions. Short-term thinking often leads to impulsive and detrimental actions, whereas a longer-term perspective can promote more rational choices.
4. The Circle of Competence: Borrowed from Warren Buffett, this model suggests that individuals should invest in areas they understand. Housel advises against investing in complex financial instruments or businesses you don't comprehend fully. like For example, if you don't understand blockchain better not gamble with the cryptocurrencies that boomed a few years back and are biting dust now.
5. The Paradox of Wealth: Housel explores the idea that wealth can often bring as many challenges and problems as it solves. This mental model encourages readers to think about the true purpose of accumulating wealth and the potential downsides of pursuing it relentlessly.
6. Loss Aversion: Housel discusses the well-known behavioral economics concept of loss aversion. People tend to feel the pain of losses more acutely than the pleasure of gains, leading to risk-averse behavior. Understanding this bias can help individuals make more rational investment decisions.
7. Hindsight Bias: Hindsight bias is the tendency to believe, after an event has occurred, that the outcome is predictable. Housel cautions against this bias by highlighting the unpredictable nature of financial markets and the danger of overconfidence.
8. The House Money Effect: This mental model refers to the idea that people tend to take more risks with money they perceive as "house money" or winnings. Housel discusses how understanding this concept can help individuals avoid reckless behavior after experiencing financial gains.
9. Narrow Framing: Narrow framing is the tendency to view financial decisions in isolation rather than considering their broader impact. Housel encourages readers to adopt a more holistic and long-term perspective when making financial choices.
10. Diversification: Housel emphasizes the importance of diversifying one's investments to manage risk effectively. This mental model underscores the idea that spreading investments across different asset classes can help protect against significant losses.

Bonus Tip : Reasonable > Rational

My tweet post on twitter(X) goes like this, "Clearing my home loan may not be rational considering the prevailing low-interest rates, tax benefits, and opportunity cost(equity returns) but it is reasonable to me being debt free."

There were low-interest times a couple of months back and it made sense to take loans and purchase assets or if you already had a loan then continue paying the interest on the loan and enjoy the capital gains on the investments made. But one key learning I picked up from the book is it is important to be reasonable over rational. Staying debt-free offers financial peace of mind, increased savings and investing opportunities, lower financial risk, reduced stress, and greater control over your financial future, among other benefits. It allows you to allocate your income toward your goals and values rather than servicing debt. And that staying debt-free I consider being reasonable.

Atomic Habits - Tiny Changes Remarkable Results

This is one of the books I read last year and helped me with good productivity hacks. For the benefit of my readers, I am going to summarize some of the learning from the book. This is a must-read for people, especially those struggling with procrastination.

Here's a summary of the key points in the book:

The Power of Atomic Habits: "Atomic habits" are tiny changes or actions that compound over time to produce remarkable results. It's not about making huge changes all at once but about focusing on small, manageable habits.

The British Cycling Team: Clear highlights how small habits and improvements led to significant success for the British cycling team. They made tiny adjustments in areas such as bike design, nutrition, and sleep, collectively resulting in multiple Olympic gold medals.

The Four Laws of Behavior Change:

1. Cue: Identify the triggers that initiate a habit.
2. Craving: Develop a strong desire or motivation for the habit.
3. Response: Implement the habit itself.
4. Reward: Experience positive outcomes or rewards as a result of the habit.

Habit Loop: Habits are formed through a loop of cue, craving, response, and reward. To change a habit, you can manipulate any part of this loop.

Alcoholics follow the habit loop of cue, craving, response, and reward. It shows how cues (meetings), cravings (desire to overcome addiction), responses (attending meetings), and rewards (support and community) play a vital role in changing behavior.

The Importance of Identity: A lasting change comes from a shift in one's identity. Instead of saying, "I want to lose weight," one should think, "I am someone who makes healthy choices." 

This reminds me of the Pygmalion effect taught in the Consumer Psychology and OB courses. It's also called a self-fulfilling prophecy where whatever we think kind of influences our behavior

Habit Stacking: This involves attaching a new habit you want to build to an existing habit. By linking the new habit to something you already do consistently, you make it easier to remember and integrate into your routine.

Environment Matters: The significance of designing your environment to support your desired habits. Small changes in your surroundings can have a big impact on behavior. For instance, place healthy snacks at eye level in your kitchen to encourage better eating habits.

The experiment of removing the TV from the bedroom exemplifies how modifying one's environment can facilitate better habits, in this case, improving sleep and family time.

Plateau of Latent Potential: Progress in habit-building often appears slow initially but compounds over time. Consistency is key, as small improvements can lead to significant transformations.

The Two-Minute Rule: Make a habit so simple that it takes less than two minutes to complete. This reduces resistance and makes it easier to get started. This helps prevent small tasks from piling up and becoming overwhelming

Time Blocking: Organize your day by blocking out specific chunks of time for different tasks or activities. This creates structure and helps you focus on one task at a time.

Implementation Intentions: Use "if-then" statements to plan your response to specific situations. For example, "If I'm tempted to check social media during work hours, then I will take a short walk instead."

Use Temptation Bundling: Pair an activity you want to do with an activity you need to do, so you're more likely to follow through with both.

Charles Duhigg's story of Claude C. Hopkins transforming the toothpaste industry highlights the concept of creating a daily routine (brushing teeth) by associating it with rewards (fresh breath).

Never Miss Twice: If you slip up on a habit, don't let it derail you completely. Get back on track as soon as possible to avoid the habit's decay.

An anecdote from the book; "Don't Break the Chain": Comedian Jerry Seinfeld used a simple habit-tracking technique to improve his writing. Seinfeld aimed to write jokes every day, and he marked a calendar with an "X" for each day he accomplished this goal. Over time, the chain of X's became motivating, and he didn't want to break it, leading to improved consistency in his work.

The Goldilocks Rule: Find the right level of difficulty for your habits – not too easy that they're boring, and not too hard that they're discouraging. 

This is something we apply in our budgeting process. Basically, the budget we set should be aspirational and achievable. If it is not aspirational it doesn't really push for improvement and at times gets boring and if it is not achievable then one would lose the motivation to achieve it.

Make It Satisfying: Reinforce good habits by making the rewards satisfying. Feel a sense of accomplishment when you complete a habit.

Habit Contracts: Make agreements with a friend or accountability partner to hold each other responsible for specific habits. External accountability can be a powerful motivator.

The book provides practical advice and a framework for individuals looking to make positive changes in their lives by focusing on small, consistent actions that build up over time. It combines psychological insights with actionable strategies to help readers understand and improve their habits for long-term success and personal growth. People who have completed their MBA with an interest in HR (OB) will find many concepts covered academically. However, the interesting aspect of the book is how James Clear brings out numerous anecdotes, some of which I have included in the summary above.

Bonus: Visualization Habit - Michael Phelps's use of visualization showcases the role of mental habits and how they can influence physical performance. Visualization serves as a mental cue and response that helps prepare him for success. In fact, this reminds me of a story I read about Virat Kohli, who also uses this visualization technique to simulate the scene on a cricket ground and then practice. He imagines facing some of the toughest bowlers and visualizes how he deals with each of their deliveries. Sometimes, even before going for an interview, I check the LinkedIn profiles of my interviewers and familiarize myself with their faces and interests. I remember looking at a photo of one CFO for almost 10 minutes before a final round interview. Trust me, it works.

Sapiens - A brief history of mankind

Guess what? I finally finished reading 'Sapiens: A Brief History of Humankind.' I got this recommendation from another great book 'The Almanac of Naval Ravikant'. He was all about how 'Sapiens' spills the beans on our evolution and spills some secrets about why we humans do the things we do. Intrigued by what he said, I grabbed a copy as fast as I could, and I have to say, it's one of the best books I've ever read.

So, 'Sapiens' is like a time machine that takes you through different times in history. You practically feel like you're there, soaking in all the important moments that made us who we are. And those 'aha!' moments? They're like the lightbulb moments that make you go 'Wow!'

As I read, I jotted down notes to remember all the cool stuff I was learning. These notes pretty much sum up the main ideas from 'Sapiens' – these big concepts that totally change how we think about how we became us. 

The back cover was something that increased my curiosity further. Gossip was always thought of in a negative way, but I was pleasantly surprised to learn that our civilization actually thrived through gossip. Immense knowledge was passed down through generations thanks to gossip.

There are several mental models that have played crucial roles in shaping human history and society. Some of these mental models include:

Myths and Narratives: The ability to create and believe in shared myths and narratives allowed humans to cooperate flexibly in large groups. These stories served as a unifying force and enabled people to work together towards common goals.

Human civilization thrived through gossip

Agricultural Revolution: The shift from a nomadic, hunter-gatherer lifestyle to agriculture marked a significant mental model shift. The adoption of agriculture led to the establishment of settled societies, the concept of property ownership, and the development of hierarchies. 

Yuval makes a controversial statement that Agriculture is a scam. Only after reading further, you understand why he says that. 

Money: Money is a widely accepted shared belief system that facilitates complex trade and cooperation. It's a mental model that represents value, enabling individuals to exchange goods and services efficiently.

Empire: The idea of empires and imperial rule is a mental model that allowed for the organization and control of diverse cultures and territories under a single authority.

An interesting concept, "The Dunbar number", coined after anthropologist Robin Dunbar, is a cognitive limit to the number of stable social relationships a person can maintain. It's estimated to be around 150 individuals, suggesting that our brains are optimized for social interaction within this range.

Religion: Religious beliefs provided moral and ethical frameworks that guided human behavior, fostering cooperation and order within societies.

The Hammurabi Code, an ancient Babylonian legal code dating back to 1754 BCE, is mentioned in the book. This code is one of the earliest known examples of written laws and offers insights into the societal norms and governance structures of the time.

Nation: The concept of nations and nationalism introduced a mental model that united people based on shared culture, language, and identity, leading to the formation of modern nation-states.

Yuval introduced the concept of 'Nation' by explaining how a company like 'Peugeot' managed to thrive for decades using the made-up idea of a brand and nation.

Capitalism: The economic model of capitalism is built on the mental model of free markets and competition, shaping modern economies and trade systems.

Biological Manipulation: Advances in biological sciences have led to a mental model shift where humans now possess the ability to manipulate and engineer living organisms, impacting medicine, agriculture, and more.

An intriguing concept in the book that I absolutely loved reading about is when he explains how Homo sapiens managed to outcompete other hominins like Neanderthals and Homo erectus. He delves into various theories of replacement, interbreeding, and different scenarios.

Imagined Communities: The notion of imagined communities, where people feel a sense of belonging to a larger group even if they've never met most of the members, has influenced the development of societies and identities.

Scientific Revolution: The mental model shift brought about by the scientific method and empirical observation transformed how humans understand the world and led to technological advancements.

These mental models highlight the power of shared beliefs, ideas, and frameworks in shaping human behavior, societies, and civilizations over time. Each model represents a significant shift in human cognition and cooperation, contributing to the complex tapestry of our history.

Timeline of History: This is so deeply etched in my brain I will never forget this.

• The book starts with the timeline of history. 
• 6 million years back was when human existence started. 
• 2.5 million years back the first stone tools were used. 
• 300 thousand years back fire was used. 
• 70 thousand years back when the magic happened, the cognitive revolution started.
• 12 thousand years back agricultural revolution started and then humans transitioned from foragers to farmers. Then came social structures, kingdoms, nations etc. 
• 2000 years ago religion started. 
• 500 years ago scientific revolution happened. 
• 200 years back the Industrial Revolution started.

Finishing 'Sapiens' feels like I've been on this awesome adventure. It's like looking at our past and how we humans got here all over again.

Bonus Trivia: Did you know? The first named individual in recorded history was actually an accountant named Kushim, hailing from ancient Mesopotamia!

Extreme Ownership

At the beginning of 2022, I told myself I'd read more books. My goal was to finish 10 books by the end of the year. While I went through quite a bunch of books, now I'm using this blog to share the cool stuff I learned from them. It's like chatting about the neat things I found in these books.

One of the books, which I thoroughly enjoyed reading was "Extreme Ownership" by Jocko Willink and Lief Babin. The book takes us deep into the world of Navy SEALs' experiences, unraveling powerful leadership principles that transcend the battlefield and extend to the realms of business, decision-making, and personal development.

This post is a humble attempt to sum up what I've learned from the book. It's definitely worth going over again to remind myself of the ideas. Maybe this is also a bit for my own benefit, just so I can refresh these concepts.

I would like to tabulate the learning from each of the chapters. Each chapter follows a consistent template: it presents a brief war zone incident, highlights the underlying philosophy, and then applies that philosophy to a real-life business case.

"Extreme Ownership" isn't just a regular book; it's like a guide for leaders, business folks, and anyone who wants to get better in life. In the stories about Navy SEAL missions, Willink and Babin show how being a strong leader can be learned even when things get super tough. They draw a clear picture of how good leadership is made when you face really hard challenges.

I am back again!

 After a long break, I want to start blogging again. I want to tell you all that I got really busy with my regular life – family, job, moving to new places – and then COVID-19 came along. Because of all these things, I completely forgot about my blog.

When I first began my blog, I wanted it to be like a diary where I write about important things that happen in my life. I also wanted to share what I was thinking about different stuff. The idea was that in the future, I could look back, remember those times, and see how I thought about things back then – whether I was being silly or smart. Unfortunately, I ended up missing almost ten years of my life in updates because I kept putting off writing. Now that I've realized this, I'm hoping to start posting regularly again.

In the past, I had some good friends who followed my blog and left comments that motivated me to keep writing. I'm pretty sure they've forgotten about my blog by now. But if they subscribed to my blog's updates, I'm hoping they might get notifications and come back to read again.

I want to thank you for the support you've given me in the past, and I'm really looking forward to sharing more stories and thoughts with all of you again as I restart my blogging journey.

Great Place to Work

I sometimes wonder when I look at websites of various companies the way they showcase about their workplace by putting videos of some select few associate's testimonials, colorful photographs of smiling happy employees and unauditable facts, wondering if they all are real.
It so seems like people associated with those companies are living in utopia and not working there is actually supposed to make you feel deprived of happiness which you never had experienced.

With that, would like to ask few questions to all those who are reading this.
What makes a place great place to work?

Is it the culture of the company?
Is it the policies of the company?
The vision, mission of the company?
The quality of the people in the company?
The compensation structure of the company?
The brand value of the company, how it is perceived by others?

A lot of times I see companies go for external validation (GOD and the jury of the agency only know the reality) as they know if they look inwards they will never get the answer which they want. The more a company boasts about its external accreditation the more I doubt its veracity.

For me if a place is a great place to work, when there is some sense of belonging. Like the way we feel when we are at our homes. If someone says I don't have peace at home, then am sorry it is not the home I am meaning. Now thanks to wfh if someone is working in a bad company, even homes start losing its belonging. As you are constantly carrying the stress, which in pre-covid times was left at bay in office.

Now how does this belonging to company can come?
It comes with the people you are surrounded with, the people with who you spend your work time.
It comes if you feel your objectives are aligned with the company's objectives
It comes if the trust levels are high
It comes when company does what it says and says only what it really means.

Recently a friend and colleague of mine shared an anecdote on Linkedin. Its a story of Shivaji Maharaj how his soldiers went beyond lengths to achieve goals set by their leader and how Shivaji commands total dedication and trust.

A lot of people had reflected several thoughts on how it was achieved.

Basically it is about alignment of goals and empathy by the leader which builds a great team who are genuinely motivated and thus wherever they work even it is deepest of the mines or an oil rig far off in Antarctica makes it a great place to work.