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Sweeping the elections in India's largest state after decades was no mean feat for the BJP. Political analysts attributed it to a 'five-layer cake strategy', which party devised specifically to address the challenges in the state. The strategy was hardly foolproof, but there's no denying the unprecedented results.
For a strategy to work, it needs to maximise the upside and minimise the risk. Charlie Munger once explained the strategy of a pilot...