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and helpful link to nonlinearity: everything nonlinear in   As individual leaders how do we enhance the abilities of
            response is either fragile or anti-fragile to a certain source of   RXU WHDPV WR IDFH WKHVH FKDOOHQJHV" 6RPH SHUVRQDO WKRXJKWV
            randomness.”                                         highlighted below:
               In the above, Taleb clearly postulates that even Resilience   ̽  5HLQIRUFH RXU VWURQJ IRXQGDWLRQ LQ YDOXHV  JRYHUQDQFH DQG
            is an inadequate tool in the quest to develop anti-fragility.   VRFLDO UHVSRQVLELOLW\ DV WKH 1RUWK 6WDU IRU RXU GHFLVLRQV
               Our own experiences within the Mahindra groups are   ̽  &RQVWDQWO\  XSJUDGH  \RXU  XQGHUVWDQGLQJ  RI  ULVN  LQ  WKH
            littered with examples of being impacted by such events:   context of your business for this one must cultivate a
            ̽  7KH EDQ RQ GLHVHO YHKLFOHV LQ 'HOKL                  strong sense of curiosity to sense the emergence of
            ̽  7KH UHYLVHG )', UHJXODWLRQV LQ ( &RPPHUFH JXLGHOLQHV   opportunity.
            ̽  7KH  VWUHQJWKHQLQJ  RI  WKH  UHJXODWRU\  UHTXLUHPHQWV  IRU   ̽  %HOLHYH  LQ  WKH  SRZHU  RI  FROODERUDWLYH  QHWZRUNV   IURP
               1%)&̵V E\ WKH 5%,                                    employees, customers, and competitors.
            ̽  *OREDO RLO SULFHV DQG H[FKDQJH UDWHV  DQG WKHLU LPSDFW RQ   ̽  'HYHORS D PLQGVHW RI DJLOLW\ LQ UHVSRQVHV̱WKDW DOO DGYHUVLW\
               our commodity inputs.                                can be an opportunity.
               Our group has tailored several responses and initiatives   ̽  ,QYHVW KHDYLO\ LQ WHFKQRORJ\ WRROV DQG GDWD DQDO\WLFV
            towards this objective in the past, though all may not have   ̽  $FNQRZOHGJH  WKDW  SUHFHGHQFH  PD\  EH  DQ  XQWUXVWZRUWK\
            been consistently implemented.                          guide, not a set of ingrained principles.
            ̽  2XU 0    HPEUDFH RI D ̸=HUR 7UDXPD̹ RUJDQL]DWLRQ
            ̽  $LPLQJ WR HQKDQFH RXU OHYHO RI ̴5HVLOLHQFH̵ DV H[SUHVVHG LQ   ,Q 6XPPDU\  DV PHQWLRQHG E\ RXU JURXS FRPSDQ\ %ULVWOHFRQH
               our Margin of Safety ratio, along with a strong free cash   Resilient companies are well-networked internally as well
               ͥRZ IRFXV                                         as externally. These companies have a clear understanding of
            ̽  7KH PDLQWHQDQFH RI D KHDOWK\ 'HEW (TXLW\ UDWLR   ([FHVVLYH   risk and are not only able to withstand negative disruptions
               leveraging has seen corporate empires being demolished   but also able to readily adapt to them. They are poised to
               around us.                                        create peripheral value by exploring social responsibility
            ̽  2XU  JRYHUQDQFH  SKLORVRSK\   HPERGLHG  LQ  ̸5LVH̹   ZKLFK   initiatives. They can sense where change is happening and
               emphasizes integrated Sustainability, diversity, and ethical   anticipate the downturns. They adapt with ease, rapidly
               values is indeed a foundational pillar.           capitalize on disruptions, and create value and positive social
            ̽  ,PSOHPHQWDWLRQ RI UREXVW 5LVN (YDOXDWLRQ DQG FRQWLQJHQF\   impact – even in the face of adversity.
               planning methodologies.
            ̽  0DKLQGUD $FFHOR KDV HPEUDFHG WKH SODWIRUP RI $JLOLW\ WR
               GHͤQH LWV RSHUDWLQJ '1$
               &OHDUO\  ZH FDQQRW DVSLUH WR HOLPLQDWH WKH GLVUXSWLYH LPSDFW         Zhooben Bhiwandiwala is the
            of the forces which now have been unleashed in the world.               President- Mahindra Partners &
            +RZHYHU  DUH ZH EHWWHU HTXLSSHG WR UHDFW WR WKHP" (DFK RI RXU           Group Legal, Member of the Group
            companies has clearly visible vulnerabilities. How are we               Executive Board.
            instituting key initiatives to eliminate these or strengthen our
            DELOLW\ WR ZLWKVWDQG WKHLU RFFXUUHQFH DQG FUHDWH D VLJQLͤFDQW
            VXVWDLQHG FRPSHWLWLYH DGYDQWDJH IRU DOO RXU VWDNHKROGHUV"




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