"The fox was running for his dinner, but the rabbit was running for his life."
In 1999, Harsh Mariwala, the Chairman of Marico received a call from Keki Dadiseth, the then Chairman of HLL (Hindustan Lever, now Hindustan Unilever or HUL). HUL, the granddaddy of the Indian FMCG (Fast Moving Consumer Goods) industry had decided to enter the hair oil segment through its brand ‘Nihar’. The segment was dominated by Marico via its brand ‘Parachute’. Flush from its success in dislodging Colgate as the market leader in the oral care segment, HUL wanted to dominate the hair care segment and intended to buy ‘Parachute’, the crown jewel from Marico. “Mr Mariwala, I will give you enough resources to take care of you and all your future generations. But if you do not sell… ". Mr Mariwala’s reply was firm, " Mr Dadiseth, you may think I am a nut but you will find I am a tough nut to crack. Thanks, but no thanks.”
HUL has been in existence in the country since the 19th century, and i…
When it comes to success, it’s easy to think that people blessed with brains are inevitably going to leave the rest of us in the dust. But new research from Stanford University will change your mind (and your attitude).
Psychologist Carol Dweck has spent her entire career studying attitude and performance, and her latest study shows that your attitude is a better predictor of your success than your IQ.
Dweck found that people’s core attitudes fall into one of two categories: a fixed mindset or a growth mindset.
With a fixed mindset, you believe you are who you are and you cannot change. This creates problems when you’re challenged because anything that appears to be more than you can handle is bound to make you feel hopeless and overwhelmed.
People with a growth mindset believe that they can improve with effort. They outperform those with a fixed mindset, even when they have a lower IQ, because they embrace challenges, treating them as opportunities to learn something new.
It’s easy to forget that Apple’s path to it's $1 trillion valuations was nearly derailed when the company was running out of cash. Steve Jobs asked one profound question that got it back on track. Jobs had returned to Apple about eight weeks earlier (he had been fired in 1985). Apple had 90 days of cash left in the bank. The future looked bleak and few people gave it a chance to survive, let alone go on to become America’s first publicly-traded company to hit $1 trillion in market value. Jobs dressed in his trademark black turtleneck, but wearing shorts instead of blue jeans. He’s delivering an intense and passionate message to a small group of employees. The passion he showed and the question he raised would inspire his team to dig their way out of the hole.
Focus on the gems On September 23, 1997, Jobs told his staff that Apple had eliminated some 70% of its product line. “It’s way too much stuff,” he said. “Apple has drifted away from doing the basics really well. We’ve focused on …