Role is CEO of Berkshire Hathaway which is

Role of Leaders in Organizational Management

Akashdeep Singh

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Student ID: 300287058

Course: BUSN 1210

CRN: 32024

Section: 050

Class Hours: Thursday – 6:30 p.m. to
9:20 p.m.

Due Date: 25th January,2017
(Thursday)

 

Douglas College

 

 

 

 

 

Table
of Contents

 

Serial
Number

             Topic

Page
No./Paragraph

1

Abstract

3Para 1

2

Management styles

4/Para 2

3

Communication skills

4,5/Para 3

4

Motivational skills

5/Para 4

5

Reference

6,7

 

 

 

 

 

 

Abstract

Before talking
about organization, it is important to describe them. Organization is a group
of people who gather themselves to achieve a specific goal. Organizations are
playing vital role in development. Organizations whether big or small, profit
or non-profit have contributed significantly in improving our lives. Moreover,
they are occupying major part of landscaping industry. For accomplishment of
goal, it is important that an organization runs in right manner, and a person
who is responsible for this is called manager or leader of that organization.
He takes all decisions and is answerable for their outcomes. Qualities of
leader greatly determine how successful an organization is. There are many
successful leaders in the world and Warren Buffet is one of them. He is among
one of the most successful investors. Warren Buffet is CEO of Berkshire
Hathaway which is investment corporation having its headquarters in Omaha
,Nebraska .This corporation has number of employees and is among one of the
most successful corporations in stock investing and management .Warren Buffet
achieved this with help of its outstanding leadership qualities .Due to his
these remarkable qualities he is among top richest persons in the world .His
company is also controlling some large companies.

 

 

 

 

Role of Leaders in Organizational
Management

Leader plays important role in
organization, all work is done under his supervision, without a leader,
organization will be unable to function in effective way.  A leader must know how to manage work and how
to create a safe and wealthy working environment. Instead of it a leader must
also know how to work in multicultural environment and difference between what
is wrong and what is right

MANAGEMENT STYLES            

Management means organizing people to
accomplish some specific goal. Leading, Planning, Organizing, and controlling
are activities needed in management style. There are three types of management
styles Autocratic, Democratic and Laissez- Faire. To achieve his target he
focused on Laissez Faire method .Instead of it he recruited honest , skillful
and likeable people to run his business .Moreover , in his company workers
enjoy full freedom and he didn’t punish anyone for any mistake ,instead of it
he encourage to do better next time .Buffet hire those people who are
interested in doing work or in other words you can say those people who love to
work .His attitude towards his workers is very lenient and he is very down to
earth and humble person. That’s the reason why Warren Buffet is so successful
and by recruiting skilled workers he showed his quality of smartness (Cheah,
2013).

He was having
different managerial axioms for handling managerial costs, dishonest employees.
Instead of it he also gave full form of leadership (Buffet and Clark 2009).

COMMUNICATION SKILLS

Communication skill means how you
interact with other persons. Buffet is brilliant in this aspect. According to
him if you want to say something say it with full confidence and energy so that
it becomes enjoyable for other people. He was energetic right from the
beginning that’s why, he earned much success (Ward, 2017).

According to Buffet, manager should not
compare their sales with other companies. This give rise to corporate
hyperactivity which means they will not be able to run business effectively and
organization will be unable to achieve its objective (Hagstorm, 2013).

Moreover, while delivering a speech one
should focus on key objects instead of delivering whole speech of full length,
whereas key objects means important information which is essential for running
business. He also did not hold some meetings to save time (Connors, 2009).                          

MOTIVATIONAL SKILLS

Warren Buffet thinks differently than other
investors. He is very motivational speaker. He always motivates his workers, to
do the best, instead of it he has given many motivational quotes which are
enough to motivate any person. He is known for his two rules of in investment 1.)
Never lose money 2.) Never forget rule No. 1 (Town, 2017).  These rules indicate value of money. He used
these rules to invest money which became a huge success. It is only due to his
motivation that everyone wants a leader like him, because if motivation is
given to a person by some successful person his willingness to work increases
and he or she became oriented towards work and if one works more success with
full enthusiasm target can be achieved.

 

 

 

 

 

References

Buffet, Mary &
Clark, David (2009). Warren Buffett’s Management Secrets: Proven Tools for      

Personal and Business Success. Retrieved from                   https://books.google.ca/books?hl=en&lr=&id=NlEtFmJgCxUC&oi=fnd&pg=PA125&dq=motivation+skills+warren+buffett&ots=LXcmMAJuBN&sig=cxb8N4WVaRnfsM4uWZT7_dbh6Cc#v=onepage&q=motivation%20skills%20warren%20buffett&f=false

Cheah Agnes. (2013) Management Style Web blog post. Retrieved from 

                   https://agnescheah.blogspot.ca/p/blog-page.html

Connors, Richard J.(2009) Warren Buffett on Business: Principles from the
Sage of Omaha.   

Retrieved from

https://books.google.ca/books?id=2RojDgAAQBAJ&pg=PA38&dq=communication++warren+buffett&hl=en&sa=X&ved=0ahUKEwiFp8v16vLYAhVN5GMKHawDDLUQ6AEIMjAC#v=onepage&q=communication%20%20warren%20buffett&f=false

Hagstorm, Robert G. (2013) The Warren Buffet Way (3rd Ed.).
Retrieved from

https://books.google.ca/books?hl=en&lr=&id=AXyrAAAAQBAJ&oi=fnd&   pg=PR7&dq=communication+skills+warren+buffett&ots=whQGKWARoP&sig=WoLcAnwcYia4eplrz_58iH5fB08#v=onepage&q=communication%20skills%20warren%20buffe

tt&f=false

Town, Phil (2017). 29 Warren Buffet Quotes on Investing & Success Web
blog post. Retreived from https://www.ruleoneinvesting.com/blog/how-to-invest/warren-buffet-quotes-on-     investing-success

Ward, Marguerite.
(2017, May 1). 5 communication skills Waren Buffet and

other
successful leaders use to get ahead Web blog post. Retrieved from https://www.cnbc.com/2017/05/01/5-communication-tricks-warren-buffett-used-to-get-ahead.html

 

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