OF HEDGEHOGS AND FOXES

THE FORTUNE INDIA-EY LISTING SHOWS HOW INDIA INC.'S EXCEPTIONAL LEADERS ARE RUNNING THEIR BUSINESSES WITH THE FOCUS OF A HEDGEHOG COMBINED WITH THE SHARPNESS OF A FOX.

- V. KESHAVDEV

WILLIAM THORNDIKE JR. may not sound familiar but he’s the founder of Boston-based Housatonic Partners, a boutique private equity firm specialising in investments in small and medium-sized companies since 1994. The firm manages over $1.4 billion in assets. Thorndike’s experience in investing companies run by entrepreneurial managers inspired him to write The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success. Published in 2012, Warren Buffett considers it an “outstanding” piece of work.

In chronicling the exploits of the eight CEOs in the book, Thorndike Jr. refers to philosopher Isaiah Berlin’s instructive contrast between the “fox,” who knows many things, and the “hedgehog,” who knows one thing but knows it very well. Drawing a parallel to the world of business, the author mentions that most CEOs are hedgehogs — they grow up in an industry and by the time they are tapped for the top role, have come to know it thoroughly. In doing so, these CEOs gain several positive attributes associated with hedgehogness, including expertise, specialisation, and focus. Foxes also have many attractive qualities, including the ability to make connections across fields and to innovate. The CEOs in the book were definite foxes given their versatility and innovation, ability to connect various industries and disciplines to develop fresh perspectives and pioneering approaches, thus achieving exceptional results.