Bio On Favorite Business Leader: Warren Buffet - Assignment Example

By 13 years, Warren Buffet had stabilized a large business investment that commanded a big competitive market industry. His enthusiasm and passion for business prompted him to work as a mere salesman and security analyst established him to rise up and found ‘Berkshire Hathaway’ company which later expanded to a multinational firm in the 1970s (Schroeder, 2008:122). He has since grown his wealth and in 2008 he was declared the richest man in the planet.Central to Buffets business successes is the leadership strategy and styles that he embraces and deploys.

As conceptualized in the Trait Theory of Leadership, the characteristics and personality of a person negatively or positively influence the outcome of their leadership (Northouse, 2010: 119). Buffet in 2006 broke the ‘world’s donation record’ by offering over 85% of his wealth to a charity program and this philanthropic gesture has since strengthened his leadership. His empathetic traits and good decision-making skills have enabled him to get along well with his workers who he easily understands their plight and appropriately addresses them.

Taking the example of the Contingency Theory, the manner in which Buffet handles the diverse workforce and the challenges that come along is commendable. He knows what style or strategy leads a group he has in all situations and in different companies (Buffet and Clark, 2009:98). This has seen him receive loyalty and respect from his followers.