Superior Business Leader and American investor Warren Buffett is often called "Oracle of Omaha" or the "Sage of Omaha" and philanthropist. (Wikipedia, 2007) Buffett is the CEO, and the largest shareholder of the company Berkshire Hathaway. Buffett's has an estimated net current value of approximately $ 52 billion in U.S. funds. Forbes Magazine ranked Buffett the third richest person in the world in September 2007 after Carlos Slim and Bill Gates.
Warren Buffett is known for his economic and simple way of life. Buffett still lives in the same Omaha, Nebraska house, which he bought in 1958 for $ 31500 with a current value of $ 700000th In 1989, Buffett spent $ 9.7 million of Berkshire Fund in a corporate jet. He jokingly called it "untenable" because of his past criticism of such purchases by other CEOs. (Wikipedia, 2007)
Warren Buffett has decided to undertake a commitment to give his assets for charitable purposes back in June 2006. Buffett's charity donation is around $ 30 billion, which is the largest donation in the history of the United States. The donation was enough to more than double the size of the foundation with 83% of which will go to the Bill and Melinda Gates Foundation. Buffett believes that his family had enough money to get started in life as Buffett decided his assets for charitable purposes. Buffett's annual salary in 2006 was only $ 100000. In 2007, Buffett was among Time Magazine of the 100 most influential people in the world. (Wikipedia, 2007)
What does Warren Buffett a good business leader? This is what everyone wants to know, because Warren Buffet is so successful. Everything starts with leadership. Warren Buffet is a true leader, where his leadership makes a difference in the world. Leadership is very much related to changes and Warren Buffett, the skills of leadership change to fit the changing world. Warren Buffett has repeatedly demonstrated the ability to read card in the waters of irregular. Warren Buffett is a leading provider born? The authors of this paper do not believe. The experience and research has shown little evidence that an individual comes to power is a "born leader." Warren Buffett, is that all other leaders to meet. Warren Buffett learned from his mistakes and turned the error into a positive thing. Warren Buffett shares his organizational leadership at all levels and Buffett is authorized, shares leadership responsibilities. In the world of business, many titles related to leadership roles are active in business and Warren Buffett bears this title to make it more effective in several leadership positions in the economy. Distinction between good governance and good management is often made. Managers are organisational, controllers and budgeters. Warren Buffett has leadership in all three departments and must be these characteristics have proved to be good business leaders.
Another important feature in today's business world leadership is communication. Warren Buffet is a skilled communicator in all aspects of life. Communication is the real key to the leadership. Skilled communicators have an appreciation for the position in the business world. Warren Buffet is experienced in positioning itself in the right place at the right time. Warren Buffet has an understanding of the people he is trying to achieve and what it can and can not hear from people. The knowledge of the audience's needs and wishes of the speakers is the ability to listen. Warren Buffett is an excellent listener with the ability to convey his understanding.
When Warren Buffett talks, people listen. Warren Buffett can send a message through an open door and does not have to push the message through a wall.
Leadership is crucial for a successful business and good leadership is what Warren Buffett. The Warren Buffet makes a good business leader. Mr. Warren Buffett's investment strategies and, of course, the leadership are clear examples of characteristics shared by cognitive theorists. Cognitive theory is an approach to explain behaviour through perception, anticipation and reflection.
Mr. Buffett's approach to continuous analysis and possible selection of investment products, market trends and the ability to place management resources of the right calibre in the right position has been consistent in this capital comes to the fore among peers and the marketplace. At the core of every investor is sound, a creative innovator. Innovation requires creativity. Creativity in turn is based on our cognitive abilities of the full amplitude of emotion to reason. In the number-heavy world of global investment, innovative thinking is crucial.
Innovative investors decipher future trends, spot likely winner by the combination of computer science (finance) with the arts (visual acuity and perception) and continuously mitigate risk. They assess needs of users, product features, the proper use of money, professional organizational structures and risk management. (Kore Kalibre, 2006)
Mr. Buffett's instincts and the ability to interpret market trends is also in possession of close there. Despite more than 50 years of growth, Mr Buffett always adheres to one of the most elementary principles of entrepreneurs: "… only compete if you have a competitive advantage. Warren Buffett refers to stay in your circle of competence. Social psychologists tell us, however, that we are prone to overconfidence when it comes to assessing our options… "(Arthridge, 2006) A man of Warren Buffett's position and track record could easily be derailed to a feeling of confidence. The principle of competing only within your range of competitive advantage is a principle, in many other areas in life, and Mr. Buffett's ability to work and live on this idea has allowed him to continue with minimal bruising.
With the founding of the previous examples, the authors can reinforce the principles of cognitive theory that Mr Buffett patterns are clearly dictates of thought processes, including interpretation, analysis and perspective. "As experiences and events to gain meaning and value, the process is always from top to bottom as the spirit in (a) attempt an orderly process affects perception when convictions, objectives and external process" (Gardener, 2007)
Warren Buffett's is a leading provider empowered because he loyal, sets goals, plans, a strategy for success, and will remain committed until it fulfils its purpose. Up to date, it is the largest broker of all time. He is a very conservative investors who prefer to invest in companies that sell brand products, which he used. For example, Coca-Cola, Gillette razors, See's Candy, Gulfstream jet, and GEICO are the big companies he invests in. In the nineties, his assets quadrupled in less than five years. He is a smart investor, usually not with large investment risks. For example, it will not invest in Internet stock, because the return is not predictable. He likes to invest in companies that he is sure will be successful, 20 years later. He buys the company with the intentions they keep forever. Normally, the management team of each company is the same staff, Warren Buffett sold it from the beginning. He remains loyal to its partners, and the team workstheir best to keep him happy.
After Warren Buffett's wife died, he decided to donate 85% of his money for charitable purposes. However, he wants his money used to be the same year, he donates. " (Harris, 2006) The requirement will accelerate the process, around the world. According to Fortune Magazine, five-sixths of his money goes to the Bill and Melinda Gates Foundation. This foundation, which focuses on the search for cures for diseases that in poor countries. The rest of the money is split between four other charitable institutions, each run by his three children and, in his late wife's name.
Warren Buffett is not a big spender. In fact, he still lives in the same house he bought 40 years old. Warren, "said ABC News" Nightline "is born, that the creation of wealth is not entitled to his children" (Harris, 2006). In addition, he told that Fortune Magazine ", a very rich person would leave his children enough to do, but not enough to do nothing." (Harris, 2006) In other words, he wants his children to work to earn their money and value of hard work and intelligent decisions.
In 2006, Warren's first annual donation to the Bill and Melinda Gates Foundation was $ 1.5 billion and the rest was among the four charity organizations. He was the first person to a donation better than Bill Gates, the richest man in the world. It seems as if Bill Gates and Warren Buffett to lead by example and others will lead to more generous, because now the Barron Hilton has pledged to donate half of its assets for charitable purposes as well. Barron Hilton is the founder of the Hilton Hotels and is worth $ 2.3 billion. Hopefully, started a trend a
among the fortunate to give the less fortunate.
The personality of Warren Buffett ties to the social-cognitive level, because he tries to understand and make sense of other people. He noted the differences in social skills in dealing with people. Social Cognition refers to their sense of ourselves, others and how the information is used. In the sixties and seventies Albert Bandura and Walter Mischel were psychologists, study of personality development. They noted that the social and cognitive learning principles are skills for self-regulation and objectives. Warren investment decisions were successful, because his condition as he processed information, decisions and expectations.
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