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Andres Cardenal, “Costco vs. Wal-Mart: Higher Wages Mean Superior Returns for Investors,” The Motley Fool, March 12, 2014,.

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Duprey, “6 Reasons;” and Jeff Stone, “Top 10 US Retailers: Amazon Joins Ranks of Walmart, Kroger for First Time Ever,” International Business Times, July 3, 2014,.

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Sinegal, interview, 2015. See also, Megan McArdle, “Why Wal-Mart Will Never Pay Like Costco,” Bloomberg View, August 27, 2013,.

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Aaron Taube, “Why Costco Pays Its Retail Employees $20 an Hour,” Business Insider, October 23, 2014,; Mitch Edelman, “Wal-Mart Could Learn from Ford, Costco,” Carroll County Times, July 19, 2013,.

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Wayne F. Cascio, “The High Cost of Low Wages,” Harvard Business Review, December 2006 issue,; for more information on this strategy, see Zeynep Ton, “Why ‘Good Jobs’ Are Good for Retailers,” Harvard Business Review, January — February 2012,.

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Sinegal, interview, 2015.

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Sinegal, interview, 2015.

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Saritha Rai, “The Fifth Metro: Doing IT Differently,” The Indian Express, November 24, 2014,.

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Zoho,; see also “Sridhar Vembu,” Wikipedia, April 17, 2015,.

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Zoho,.

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Mark Milian, “No VC: Zoho CEO ‘Couldn’t Care Less for Wall Street’,” Bloomberg, November 29, 2012,; Rasheeda Bhagat, “A Life Worth Living,” Rotary News, October 1, 2014.

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Sridhar Vembu, interviewed by Todd Rose, April 21, 2015; see also: Rasheeda Bhagat, “Decoding Zoho’s Success,” The Hindu Business Line, February 4, 2013,.

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Vembu, interview, 2015.

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Vembu, interview, 2015.

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Vembu, interview, 2015; for similar sentiments, see Sridar, “How We Recruit — On Formal Credentials vs. Experience-based Education,” Zoho Blogs, June 12, 2008,.