Back to Simplicity
This is a topic that I never tire of talking about as so many in management and business attempt to complicate things to make it look like everyone needs their services so badly.
But look at Warren Buffett and Berkshire. Buffett from day one will say that if he can't understand a business he won't invest in it. Period! That's simplicity. That's power.
Buffett's and Berkshire's (BRK-A) strategy is so simple that is isn't really even too 
interesting to read about, unless you want to be successful. The strategy is to buy whole businesses first - assuming they fit into Buffet's criteria of being able to understand them - if the opportunity arises. And if not, then the next choice is to buy stock in a business that meets the "understanding" requirement.
Next, in line with that strategy is that businesses can't be commodities; they need to have deep moats built around them to protect them. In other words they're difficult to compete against ... which provides predictability that can be counted on.
Then the management of the company has to line up with similar principles that Buffett believes in and are in it for the long haul.
There are a couple of other things, but these are the underlying principles that make Warren Buffett and Berkshire Hathaway who and what they are. Never doubt how powerful simplicity is in managing your business or managing within a company. The reason why simplicity is so powerful is because it's one of the hardest things to copy by other companies.
Other Buffett Resources:
MSU students have special visit with billionaire Warren Buffett
Sticking to what you know Core businesses
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