Win-Win Corporations

“Shashank takes us into the DNA of these successful companies and iconic brands with the ease of a master story-teller. He succinctly presents the history and underlying philosophy that built and holds these companies together. The human interest examples gleaned from the principal actors in each corporation makes these nuggets practical and eminently readable and brings life to Win-Win Corporations whose journey Shashank as a raconteur takes us through as a consummate masterpiece. After a long time we have a business book grounded in reality.” 

Ranjit Shahani
Vice Chairman and Managing Director, Novartis India Ltd.

“Dr. Shashank Shah’s work is a fresh-breeze. I have long associated with the jury for ‘Golden Peacock’ Awards for corporate excellence. Dr. Shah’s criteria are a refreshing enrichment of the evaluator repertoire. To me, as Chancellor of Sri Sathya Sai University, it is matter of pride that Dr. Shah is one of our alumni.”

Justice M. N. Venkatachaliah
Twenty-Fifth Chief Justice of India
Former Chairman, National Human Rights Commission

“This is an excellent book of case examples of how the stakeholder concept has a long history in the Indian business environment. Executives and students will learn a great deal by paying attention to the lessons here.”

R. Edward Freeman
University Professor, Darden School of Business, University of Virginia, USA
Author of ‘Stakeholder Theory: The State of the Art’

“An important contribution to management thinking; Shashank has gathered evidence from some of the best regarded corporations in India, and demonstrated how their success over the long term has drawn from their significant investments in value creation for all their stakeholders.”

Dr. Mukund Rajan
Chief Sustainability and Group Ethics Officer, Tata Sons

“Stakeholder integration is one of the four pillars of Conscious Capitalism, and the one that presents the greatest challenge to leaders seeking to implement an approach to business that is rooted in synergistic rather than traditional trade-off thinking. Win-Win Corporations illuminates this critical aspect of business in a refreshing and compelling way. Through fascinating case studies of prominent Indian companies, Shashank Shah distills key insights that are highly useful for companies all over the world. My congratulations on a terrific book!”

Raj Sisodia
FW Olin Distinguished Professor of Global Business, Babson College;
Co-founder and Co-Chairman, Conscious Capitalism Inc.
Co-author of ‘Firms of Endearment’ and ‘Conscious Capitalism’

“Win-Win Corporations by Dr. Shashank Shah is a fascinating book on the Indian way of creating successful companies that create shareholder value focussing on stakeholder satisfaction. It provides new insights on the linkages between real standards of leadership, customer delight, quality, governance, social responsibility, environmental awareness and employee satisfaction; and rounds off with a simple and friendly implementation toolkit. A must read for all business leaders and entrepreneurs!”

Ashu Suyash
Managing Director and CEO, CRISIL

“Win-Win Corporations is a refreshing and well-researched account of six well-regarded companies in India to discover the ‘soul’ of a corporation and the ‘Indian way’ that these companies and their leaders follow to create value for their stakeholders and society. At a time when corporations and leaders are viewed with suspicion, the examples in the book demonstrate that it is possible to do well while doing good. The story of Taj Group of hotels is a fascinating one and Shashank does a great job of connecting the dots across different companies that he covers. Everyone who cares about responsible capitalism must read this book.” 

Sunil Mithas
Professor,Robert H. Smith School of Business, University of Maryland, USA
Author of ‘Making the Elephant Dance: The Tata Way to Innovate, Transform and Globalize’

“Dr. Shah, through his fine empirical and investigative thesis on examples of corporate excellence in India, has amply demonstrated how sustainable stakeholder value has been created in practice by focussing on aggregate stakeholder value. Notably, the examples are an eclectic mix of old economy and liberalisation’s children. The book vividly illustrates the part of value creation strategy that Professor Michael Sandel would call ‘What Money Can't Buy: The Moral Limits of Markets’.”

M. V. Nair
Chairman, CIBIL (Credit Information Bureau of India Limited)
Former Chairman and Managing Director, Union Bank of India

“A wonderfully nuanced insight into the world of corporate India through the lens of culture, governance and values. I was immediately captivated by the name and the topic as one of the values which I and our team at Multiples emulate is “Win-Win” for every stakeholder. We cannot succeed in our partnership when we don’t build outcomes which are aligned. Shashank has captured the stories in an amicable style which lends to easy reading. The interviews and the journey of the companies play out how leaders set in motion a framework of governance permeated through to the behaviour and practice across the organisation as exemplified by the Taj employees during 26/11. It’s a ringside view of how these Indian organisations have evolved over the years to incorporate values, governance, and responsibility while facing challenges without losing sight of the goals and generating superior financial performance. I congratulate Shashank for these chronicles and hope some of these very real examples will help leaders adopt guiding principles of ‘win-win’ into their success-mantras.”

Renuka Ramnath
Founder, Managing Director and CEO, Multiples Alternate Asset Management
Former Managing Director and CEO, ICICI Ventures

“Dr. Shah has weaved together insights from business, culture, philosophy and social impact in this timely guide for corporate leaders built on his is multi-disciplinary research experience. India’s demographics, economic growth and rich cultural and spiritual heritage positions its business leaders both at an advantage as also challenges them to develop an India-specific corporate strategy. This book shines the light on some great examples, home-grown and nurtured uniquely, that can be leveraged for scaling a unique model of doing business in this most interesting and complex country!”

Arunkumar N. T.
Managing Director, UBS India

“Shah’s ‘Win-Win Corporations’ is a quintessential read for every strategy enthusiast or someone learning the science of strategy in the Indian context. The book beautifully analyses businesses that successfully grew and expanded in India. As you turn the last page of the book, you know you are a better strategist.”

Dr. Sanjiv Marwah
Director, J K Business School

"The book shows how certain companies in India faced the new and unforeseen challenges that emerged in the corporate sector in the wake of economic liberalisation. There is a lucid account of the strategies adopted by them to meet such challenges without compromising on their basic principle of combining business with ethics. The author has selected companies which existed in pre-independence India and also new entrants who appeared on the horizon after the policy of economic liberalisation was announced. A study of these two types of companies would help any student of business management. The book contains a wealth of data which, when interpreted, in the light of the historical perspective that you have given in respect of each and every company, becomes all the more valuable. Students of economics too would be benefited by the work as it shows how the corporate sector responded to the new and exciting policy initiatives taken by the Government in the 1990s and unravels an important facet of India’s economic development in recent times."

Anil Gokak, IAS (Retd.),
Former Secretary, Dept. of Telecommunications and
Dept. of Fertilisers, Govt. of India

“Dr.Shah has performed a service in redirecting our attention to the societal role of corporations, especially valuable when managers and entrepreneurs lose their moral compass in the short term pursuit of untrammelled greed. His text – drawing on original interviews, folksy narrative, management theory, and including a valuable implementation toolkit – is a worthy read indeed.”

Tarun Khanna
Director, Harvard University South Asia Institute
Jorge Paulo Lemann Professor, Harvard Business School, USA
Author of ‘Billions of Entrepreneurs: How India and China Are Reshaping Their Futures – And Yours’

“Win-Win Corporations is a landmark book on how Indian companies from diverse industry and ownership backgrounds keep multiple stakeholders happy while ensuring growth and commercial success. Full of absorbing anecdotes, leadership insights and management lessons, the book is an invaluable read for academics, practitioners and entrepreneurs alike. A stellar debut by a young business author!”

Naina Lal Kidwai
Former Group General Manager and Country Head, HSBC India
Author of ‘30 Women in Power: Their Voices, Their Stories’

“A lucid narrative that chronicles how six Indian companies emerged as winning corporations in the eyes of stakeholders. For business executives aiming to win in the market place, the book offers salient insights garnered over a decade of personal research by Shashank.”

Nishi Vasudeva
Former Chairman and Managing Director, Hindustan Petroleum Corporation Ltd.

“An engaging and inspiring read!”

Ravi Venkatesan
Chairman, Bank of Baroda
Director, Infosys Ltd.; Former Chairman, Microsoft India

“In this highly readable book, Shashank deals with the very important and relevant topic of stakeholder management by corporates. Drawing on history, on his insights and on six very powerful cases, he demonstrates how stakeholder management actually creates better shareholder value. I thoroughly enjoyed reading this book and believe it provides learnings and implementable advice to those who want to build better companies through managing their stakeholders better.”

Ajay Srinivasan
CEO, Aditya Birla Financial Services

“In an era of increasing obsession with market share and valuations, companies which have balanced their focus on the triple bottom line of people, profits and planet are the only true role models. I am glad to see such companies being celebrated.”

Ganesh Natarajan
Chairman, NASSCOM Foundation
Former CEO, Zensar Technologies

“A successful corporation typically defies definition though can broadly be grasped through significant attributes. This book has done a remarkable job in capturing the major attributes of success, most importantly how the company creates sustainable value for each & every stakeholder. In Healthcare, it is part of our DNA where we operate in a society and continuously balance the greater good of our patients with a prudent return on capital.”

Suneeta Reddy
Managing Director, Apollo Hospitals Group

“Shashank Shah’s book delves deeply into several leading Indian companies to extract insights into what makes for a Win-Win Corporation that maximises outcomes towards the needs of stakeholders. Indian corporations are developing their own ethos and this is a timely and insightful work delving into best practices that resulted in the creation of winners.”

KRS Jamwal
Executive Director, Tata Industries

“The Indian market is perhaps the most difficult market in the world to succeed in. Shashank provides up close, the changing face of India, and the practical strategies adopted by a diverse group of companies for sustainable, multi stakeholder growth. This makes Win-Win Corporations an essential reading for managers working in India, as also those looking to understand the dynamics of emerging markets.”

Vijay Singh
CEO,Fox Star Studios

“Win-Win Corporations is in line with the global philosophy of ‘Inclusive Growth’ being followed by the Govt. of India - ‘Sabka Sath Sabka Vikas’. The six case studies of different industries covering financial services, manufacturing, distribution, hospitality, etc. are perfect example of Responsible Corporate Governance. They exemplify sustainability through the EGS ethos - Environmental, Social, Governance. Human capital, customer centricity and value creation for all stakeholders is central to the culture of a Win-Win Corporation. I recommend that all new generation CEOs, particularly start-up companies should adopt it as a hand book for creating their organisations as Win-Win Corporations.”

Mohan Tanksale
Chief Executive, Indian Banks’ Association
Former Chairman and Managing Director, Central Bank of India

“Win-Win Corporations is a riveting read full of stimulating stories and inspiring insights. Highly recommend it for budding entrepreneurs, young managers and aspiring management practitioners.”

Dr. Indu Shahani
Director, Colgate Palmolive (India) Ltd
Director, Bajaj Electricals Ltd
Former Sheriff of Mumbai &
Member, University Grants Commission

“Based on extensive field research, Shashank advances the concept of a Win-Win Corporation, one that maximizes return to shareholders as well as society. The six companies he presents in his book are able to do it by harmonizing the interests of their key stakeholders. To make those principles accessible to every manager in every company, the book offers an action toolkit that provides a useful implementation framework. The research is refreshingly grounded in principles that are especially relevant to the Indian context and written in an easily readable story-telling style. It is a must read for the Indian manager who wants to do well by doing good.”

Professor V. Kasturi Rangan
Co-Chairman, Social Enterprise Initiative
Harvard Business School, USA

“Enjoyed it thoroughly! Well researched and lucidly written.”

Aditya Puri
Managing Director, HDFC Bank Ltd.

"I am very impressed by the content of 'Win-Win Corporations' as well as the clarity and depth of Shashank Shah’s writing. I can strongly recommend the book, not least to MBA students and corporate leaders in India, which is clearly the major target audience, even though its message is not limited by geography or culture."

Peter Pruzan
Professor Emeritus, Copenhagen Business School, Denmark