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How Storytelling Builds Next-Generation Leaders: Warren Buffet - Essay Example

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Leadership is a complex phenomenon that has been and is being studied and debated by scholars for many decades now. Leaders have been identified in the past that have contributed immensely to the society, country and organizations…
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How Storytelling Builds Next-Generation Leaders: Warren Buffet
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Download file to see previous pages Most of these leaders are identified with certain qualities that have been the reasons for their success and contribution. These qualities are studied in the present discourse and a report on leadership qualities is prepared by taking the investment guru, Warren Buffett as an example. This report elaborates on leadership concept in general, its scope, essence and the leadership personality; further a detailed study of Buffett’s leadership qualities is performed in order to understand the qualities that resulted in his success. The paper concludes with identification of few leadership challenges.Leadership is a phenomenon that has been debated immensely throughout the literature concerning various aspects of management, psychology, sociology and history. Basically, leadership is the ability to serve people in order to develop them, and/or achieve a specific task. Leadership also refers to the ability to guide, coach, direct, and support people as required. According to Wiersbe (2007), leadership refers to a relationship that involves serving fellow human beings in order to help them develop by providing all required support, resources, guidance as well as supervision. A leader’s main task is to identify leadership potential in each of his/her followers and develop him/her in a manner that can achieve the desired task by utilizing his/her talent and leadership abilities in an appropriate manner. To accomplish such activities successfully, certain qualities are necessary, which in turn define the leader or make the leader. This discourse will elaborate these qualities by highlighting the most significant qualities that make a leader. In this process, an attempt will also be made to understand the essence of leadership in contemporary management by studying specific exemplary leaders, like Warren Buffett, and his qualities. 2. Why Warren Buffet? More often than not, every successful organization credits its position to its leaders, at all levels. The top leadership team actually decides the fate of the organization. The main task of a leader at that level is to develop future leaders that can lead the company in right direction. So, it is certain that the senior most leader of such a successful company be regarded as the true leader. One such leader that can be named is Warren Buffet, the CEO and Chairman of Berkshire-Hathaway, and one of the richest individuals and investors in the world, who Morio (2011) describes with qualities such as smartness, honesty, determination, innovative thinking, patience and a vivid learner. These qualities, and probably many more, are usually commonly seen in most of the successful leaders. Literature identifies various such qualities as leadership qualities. Therefore, leadership is one of the core and quintessential factors of success for any organization, group or a team. A few of these leadership qualit ...Download file to see next pagesRead More
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