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The chief executive of conglomerate
Berkshire Hathaway Inc.
BRK.B 1.34%
said choosing the wrong people to lead an organization is the No. 1 risk for businesses. In his five decades running Berkshire, Mr. Buffett said, he has seen a number of companies fail, from textile mills to department stores, and he suggested that a consistent element could be found in those failures beyond changing consumer behavior or shifting market forces.
Warren Buffett Says Bad Leaders Pose Biggest Risk to Companies
wsj.com
Everyone thought I was crazy—and many still do—but here’s what I did: I took several sheets of paper with me everywhere. They had all the top milestones in front of us for each of the disciplines—engineering, HR, finance, legal, marketing, facilities, etc.—and everything we needed to do to reach those milestones.
There's only one right way to do it: You have to get the main doctrines together and use them as a checklist. And, to repeat for emphasis, you have to pay special attention to combinatorial effects put that create lollapalooza consequences.
Poor Charlie's Almanack by Charles T. Munger
Charles T. Munger
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