Devoted to Managers and those that seek to improve their management skills

Warren Buffett and Secrets of Management - 33
 
 
It says a lot about your managment if you can't leave them alone to do their jobs; or it may say a lot about you. Buffett understands that quality managers must be left alone to do what they do best.

One thing Buffett has never done to his managers is to suggest how they should manage the companies. He never schedules meetings with them and they aren't required to submit budgets to him. The greatest skill that Buffett has here is the discipline to leave them alone. He does absolutely nothing to interfere with them.

The reason Buffett is able to do this is that he performs due diligence before he ever buys or buys into a company. Now with those of us that have responsibilities to hire or promote managers, this should be even easier for us. We can watch a person perform in the day-to-day operations of the company and see how they respond and the integrity they possess.

Once they understand the vision and purpose of the company and where it's going, it's a matter of them being trained and growing into management material.

The result of Buffett's strategy? Over the decades of owning companies, Buffett has never lost a senior executive in the Berkshire Hathaway (BRK-A) family of companies. An extraordinary accomplishment. And year after year the companies and management perform great for him. The results speak for themselves.

Other Buffett Resources:

Investment Whiz Kid: Buffett Amasses a Fortune

Management Styles - The Buffett Way: Learn from the maestro himself

Understanding the Company

Brand names Commodity companies

THE REAL GENIUS OF WARREN BUFFETT

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