What makes warren buffet a good leader

Winterkorn had set ambitious goals to dominate the world auto market by The forecast for achieving those goals was very positive based on the progress the company was experiencing [5]. However, shocking news of a widespread scandal within the company disrupted that upward trajectory. The manufacturer was found to have installed secret software that would falsify emissions readings for vehicles when tested [6].

The most significant feature of his legacy as leader of Volkswagen will always be the scandal that led to his resignation. Consider the negative tone that dominates the issue in the following brief video:. In the midst of a highly successful period for the company, Winterkorn remained doggedly determined to push for more. Winterkorn was known for his exacting standards and perfectionism.

The internal climate at Volkswagen was demanding in the extreme. Even if Winterkorn was indeed ignorant of the unethical goings-on, it has been suggested that his approach fostered an environment where the illegal activities would be seen as an acceptable risk to take in the pursuit of success. In the resultant climate, failure simply was not an option, even if it meant these illegal steps.

A leader must consider the impact that his leadership style and demeanor have on his subordinates. Executive Carrie Tolstedt is viewed as largely responsible for the fraudulent accounts scandal at Wells Fargo.

Another leadership lesson can be learned from the career of Carrie Tolstedt of Wells Fargo. Rising to prominence from humble beginnings, Tolstedt was highly praised as a leading businesswoman both by those within her company and those outside. She earned numerous awards and was seen as a trailblazer for women within the banking industry. Her vision of retail banking was so successful that under her management as head of community banking, Wells Fargo quickly became an industry leader in many areas, such as retail deposit volume and customer loyalty.

She espoused her belief that banking was all about serving others, helping them succeed financially. Her rise to success in the banking world has been described as something out the storybooks [7]. In , when Buffett wanted young people to hear his message about women driving economic growth, he did a livestream conversation at the University of Nebraska. I was the moderator, and we took questions from students. And as we sat on stage that evening, Buffett tweeted for the first time.

Skip Navigation. Key Points. In his latest letter to Berkshire Hathaway shareholders, Warren Buffett uses analogies and stories to make key points. Communication skills are key for leadership success. Buffett believes the best leaders are master storytellers who make it personal and turn crises into storytelling opportunities. And more than ever, storytelling is an essential building block of leadership success. Michael Toth, a data scientist at Orchard Platform and a former portfolio analyst at BlackRock , has made an effort to read Buffett's Berkshire Hathaway annual shareholder letters for personal growth as an individual investor.

While he hopes to eventually read all of them, he used statistical computing to quantify and highlight Buffett's penchant for positivity over the years. Toth performed a sentiment analysis on the annual shareholder letters from to , which ultimately demonstrated Buffett's mastery in balancing both optimism and realism , he tells CNBC Make It. But the data also helped Toth understand what makes the legendary investor such an influential leader.

Buffett has repeatedly advised leaders over the years to weigh integrity above all traits when building a company. He once said:. We look for three things when we hire people. We look for intelligence, we look for initiative or energy, and we look for integrity. And if they don't have the latter, the first two will kill you, because if you're going to get someone without integrity, you want them lazy and dumb. Murphy adds another trait to consider in leaders: common sense.

In a interview with Harvard Business School , Murphy shared:. One of the interesting things I've learned in my life is that one of the most uncommon things in life is common sense. It's very hard to notice whether people have great common sense.