Never take the last penny from every deal

Posted by in Management

Here (PDF) is an interestnig story told by Vivek Paul, who quit Wipro last week from his time in Pepsi. He talks about how he won a great deal for Pepsi by selling a unit – worth nothing for USD 35 million and which soon led to the bankruptcy of the buyer. He learned the lesson never to take the last penny out of any deal.

This is a lesson I learnt as well early on in my career in purchasing. Its in our interest to make sure that all our partners are making reasonable profit in their venture.