Book review: Warren Buffett's Management Secrets

Emma De Vita reviews the new book by Mary Buffett and David Clark

Warren Buffett's Management Secrets
Warren Buffett's Management Secrets

As one of the world's richest men, Warren Buffett has been held up as a brilliant investor but is now also being called a brilliant manager.

What can we learn from the so-called 'sage of Omaha'? This book, written by Mary Buffett, who was married to Warren's son Peter, and David Clark, authors of tomes such as Buffettology and The Tao of Warren Buffett, includes chapters on delegation, motivating your workforce, dealing with pitfalls and challenges and how to learn from opportunities.

There are three rules that, if followed, will ensure you do this in the best way. The first rule is to realise that you can't be an expert in every aspect of the tasks you have, so it's much better to delegate. It's smarter to be a cheerleader rather than a slave driver - your staff can do their jobs much better than you.

The second is to encourage competent managers to think of the organisation as 'theirs'. It will become a matter of pride for them to work hard to make it a success.

The last rule is that it is just as important for your managers to be honest and to have integrity as to be hard-working, intelligent and passionate. And it's down to you to set the example.

Emma De Vita is books editor of Management Today

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