What Books Taught Dilip Shanghvi About Running Large Organisations
The managing director of Sun Pharma talks of why he weaned away from fiction to focus on books on business.
What do leaders from IBM, GE, Walmart and Apple have in common? They, according to Dilip Shanghvi, have laid some ground rules for managing people and business.
The managing director of Sun Pharmaceuticals Industries Ltd. was speaking to BloombergQuint about the books that he has enjoyed reading the most over the years, why he weaned away from fiction to focus on books on business, and his admiration for Jack Welch and Steve Jobs, despite their different functioning styles, as compared to his business philosophy.
“When I was young I used to read a lot of fiction,” Shanghvi said. Among his favourite authors were Arthur Hailey, Sidney Sheldon and Leon Uris. “Over the last few years, however, I didn’t have enough time and have lesser interest in fiction now. But I continue to read books which help my overall understanding of business.”
Here’s a look at his reading list...
Made In America, By Sam Walton
This is a very inspirational book on the success of Walmart and the man behind it. Sam Walton created an extremely successful business model. His strength was that he scaled the model rapidly from a few stores to thousands and went on to become the largest retailer in the U.S. in a quick period. He could do all of this without losing out on commitment of people, values that made them successful and kept the competitive spirit of a small organisation in a large organisation.
Father, Son And Co. My Life At IBM And Beyond, By Thomas Watson Jr.
The book charts the journey of IBM and also highlights the bond between a father and son. It talks of the transformation of IBM from a cash register company to an organisation of global scale.
Control Your Destiny Or Someone Else Will, By Jack Welch
“I admire Jack Welch as he single-handedly revolutionised GE, changing the culture and the thought process of the organisation,” Shanghvi said.
“I believe in focus and specialisation in my business, but Jack Welch had a different approach.”
He created a huge and complex conglomerate, achieving market success in various businesses in which GE was competing.
Steve Jobs, By Walter Isaacson
“I am not from the technology field, but it was interesting to read about the man who shaped technology. His philosophy is very different from mine. His approach was that for an organisation to succeed, you need a best-in-class team,” Shanghvi said. “My own philosophy is a little different.”
My management style is to get the best-in-class performance from good people, by motivating, empowering and trusting them.
Barbarians At The Gate, The Fall Of RJR Nabisco, By Bryan Burrough And John Helyar
“This book helped me learn and understand about how to do acquisitions and create significant synergies, which all owners are not able to do,” according to Shanghvi.
Tap Dancing To Work: Warren Buffett On Practically Everything, 1966-2012, By Carol J. Loomis
Warren Buffett is a proponent of right capital allocation. He is very disciplined about that process. He looks at investing in companies which have a sustainable competitive market advantage at marketplace. This is a collection of articles on Warren Buffett. It’s an extremely interesting read — looking at his life and his personality. The author brings over 25-30 years of experience of tracking Buffett’s story.
Who Says Elephants Can’t Dance? By Louis V. Gerstner Jr.
This talks of how the CEO of IBM went against conventional wisdom to break the company into smaller units for improved efficiency. He had a firm belief that IBM can only be sustained if it functions as a comprehensive organisation. This book gives a good insight into his thinking and how he is different as a business manager, as opposed to an individual in private life.
The Emperor Of Maladies, By Siddhartha Mukherjee
This is an interesting book about various types of cancer. Siddhartha’s ability to convert a complex subject into something which a lay person can understand and bring in an angle of human interest is “remarkable”.
