Question.859 - Who hasn’t heard of Warren Buffett, one of the most powerful and successful businessmen in the world? When Warren Buffet speaks, people tend to listen. Watch this short 5.5 minute video: Warren Buffett’s Management SecretsLinks to an external site.. As you watch the video, ask yourself if you would be able to run a company that Warren Buffet owns. For your convenience, you can select the CC button when you are in the video for close-captioned subtitles. Overview Warren Buffett has created a massive empire under his company brand of Berkshire Hathaway. He buys companies ranging from children’s toys to hardware to clothing to candy that employ a lot of people. His management style is a little different. Buffett “applies only the lightest hand to the tiller.” In other words, he does micro-manage his companies and he allows the acting executives of each company to continue running their company. For example, Clayton Homes is one company Buffett bought. He only asks the CEO of Clayton Homes to send financial records. He purchased Clayton Homes without ever having visited the company and he is not involved in their daily operations. However, Buffet builds trust and confidence while empowering the CEOs who manage and lead his many companies. Instructions Respond to each of these questions. Your response to each question should be written in complete sentences. You may use bullet points where appropriate. Cite any resources you might use using APA format. Be sure to include your own opinions, interpretations, and conclusions. Warren Buffett is an extremely powerful owner and businessman. Out of the five sources of power, identify one source of power that Mr. Buffet holds. Explain why you selected this one source. Transactional leadership focuses on the rewards associated with doing a good job. In one paragraph, describe how Warren Buffett is a transactional leader.. Assess your own knowledge, skills, and abilities. Briefly describe your own personal motivation and your leadership traits. Would you be able and willing to run one of Mr. Buffett’s companies? Be sure to justify your response.
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