The Entrepreneur I Most Admire - Essay Example

The first part of the essay gives a brief outline of the profile of Warren Buffet and tracks the path of his career as an entrepreneur. The reason for the selection of this person has been explained in detail. In the later parts of the essay the strategies and models adopted by Warren Buffet has been analysed. Finally a reflection has been provided on the learning from the business model and strategies of the person and how it can be implemented in the present day scenario as a starter. Discussion Warren Buffet, the CEO of Berkshire Hathaway is also a stock market investor whose net worth is estimated at $58.

5 billion as on 2013. Considered to be the most successful investor of his time, he is the largest shareholder of Berkshire Hathaway and has been ranked as the richest man of the world for many consecutive years. The person has remained loyal to the philosophy of value investing that he believed in throughout his life and followed meticulously. Along with the materialistic part of his life it must also be mentioned that Buffet is a well acclaimed philanthropist. He had taken up a motto of donating 99% of his profits to the charity in form of donations.

The person has been chosen for the discussion in this essay chiefly because his story would motivate a large number of entrepreneurs who are in the making. Buffet reached the heights even from a very humble background chiefly because of his hard work, his ideas, his will power and his ability to understand the field in which he operated. Since childhood Buffet has the passion for making money which he continued to pursue throughout the rest of his life. Buffet was lucky to have the securities analyst Benjamin Graham and David Dodd as his mentors in Columbia Business School and the education that he gathered from these two maestros helped him in his later phases of life (Hagstrom, 2005, p. 29). People like Warren Buffet act as inspiration for the entrepreneur who want to start their own business.

Not only that Buffet reached the heights from the grass root levels and therefore he had enough foresight about the future and experience of the practical aspects of life. Being a person who is continuously dealing with money, Buffet never avoided the ethical and moral aspects of life. He always believed that whether human relations or business, values are important for long term sustainability. Warren Buffet as an Entrepreneur Various types of Entrepreneurship models are used by the businesses in the present day.

The types of businesses have been depicted in the chart below. (Source: MIT Sloan Management Review, 2007, p. 77) The kind of ownership of the management in the organisation would determine the entrepreneurial style. On the other hand the source of the resources whether come in an ad hoc manner or through a pool of resources created by individuals in the corporate world determines the type of entrepreneur. Warren Buffet would come under the enabler model because the employees of Berkshire Hathaway are provided with a lot of flexibility and support when they come up with their new ideas.

They are encouraged to pursue their personal goals as long as they remain aligned with the goals of the organisation. Buffet has pursued this kind of model chiefly because of the fact that he himself has moved along in the path of freedom in the thought process and pursuing the field of