Critical Evaluation of Warren Buffett's Leadership Style
Summative assessment will take the form of one 3,500-word individual written assignment. This will contribute 100% of the module mark. This assignment gives you an opportunity to apply the concepts and theories of leadership taught in this module to a real situation. In this assignment, you will be asked to identify a leader who has guided a group or an organisation to success and to critically evaluate the leader in question (e.g., by acknowledging what worked and what did not work) drawing upon leadership theories and research. The leader you choose has to be a business leader. How you organize the essay is up to you, but you need to include the following:
(1) You are expected to provide a detailed introduction about the leader and justify why you chose him/her.
(2) You should include facts that reflect the characteristics of your chosen leader. In other words, your analysis of the leader should be based on facts.
(3) You are expected to use only 2-3 different theoretical perspectives when analyzing the leader (e.g., personality, situational leadership, transactional and transformational leadership, culture).
(4) You are expected to provide recommendations on how the leader could do better in certain areas or how he/she could be better in the future.
(5) Make sure to reference academic resources relevant to your analysis.
Overall word limit: 3,500 words
CRITICAL ANALYSIS OF LEADERSHIP STYLE OF WARREN BUFFET
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Introduction
In any organisation, there are several factors that play a key role in determining organisational success, including the size of the opportunity, availability of capital, capable employees, and business model feasibility and scalability. One factor that aligns all the above-mentioned factors in achieving organisational objectives is organisational leadership (Hao and Yazdanifard, 2015, p. 2). The importance of an effective leader in an organisation cannot be overstated as a leader (whether good or bad) can influence the organisation that can resonate across the entire organisation. This could be attributed to the fact that a good leader can establish an organisational culture that can motivate the team towards a direction and purpose. Therefore, for an organisation to achieve success, an effective leader is a must (Hao, and Yazdanifard, 2015, p. 2).
In today's time, when organisations operate in a constantly shifting landscape and uncertainty, it is necessary for a leader to be agile and resilient, so that course correction (if needed) can be undertaken rapidly. Also, the organisational context defines the functions that the leader in an organisation must perform, including training employees and monitoring their progress (Meraku, 2017, p. 337).
Thus, considering the complexity associated with leadership, the leadership style of a business leader is analysed. The leader selected for the analysis is Warrant Buffet, Chairman and the CEO of Berkshire Hathaway, a US-based investment holding company that owns significant stakes in several businesses. The rationale behind selecting Warren Buffet for leadership analysis is that while he owns significant ownership in several businesses and has a strong influence on these businesses at the management level, he is not involved in the day-to-day operations of most of these businesses (Miles, 2033, p. 7).
This analysis is conducted by first describing the leader's background to understand the leadership position, followed by developing a theoretical framework to analyse the leadership behaviour. This is followed by giving some recommendations to make the leadership more effective.
Background of the Leader
Warren Edward Buffet is a US-based businessperson who is the Chairman and the CEO of the investment holding company Berkshire Hathaway (Kumar, 2013, p. 5). He is regarded as the most successful investor in the world, with a net worth of over $125 billion (April 2022), thereby making him the fifth wealthiest person in the world (Bloomberg, 2022).
His investment philosophy revolves around the concept of value investing. He started his career by working as an investment salesman at Buffet-Falk & Co. from 1951 to 1954. His next job included working under Benjamin Graham at Graham-Newsman Corp. from 1954 to 1956 (Kumar, 2013, p. 15). Benjamin Graham is often considered to be the pioneer of value investing, i.e., purchasing assets at a discounted price than the intrinsic price. Benjamin Graham has been a major influence on Warren Buffet in developing his investment philosophy (Miles, 2033, p. 13).
Warren Buffet's investment philosophy can be underst...
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