CBM 51 QUIZ/CLASS PARTICIPATION

GUIDE QUESTION:
From the management result-driven, practical, and inspirational strategies implemented
by Buffet at Berkshire Hathaway, which struck you as something worth imitating?
Explain your answer.

Actually, it was difficult to choose between the strategies because each one was highly
inspiring, and selecting the best among the best is a challenging task. But, after
weighing which strategies I related to the most, I chose two: "It takes 20 years to build a
reputation and 5 minutes to ruin it. If you think about that, you will do things
differently.” and "Risk comes from not knowing what you're doing." These words really
hit home because they make you realize that everything you've worked for with your
blood, sweat, and tears could be lost by just one minor mistake. It forces you to
consider the consequences of your actions, as each decision has a different effect. That
you must consider carefully about whatever decision you make, the consequences,
the benefits, and even the unnoticed outcomes that may become significant
problems in the future.
"Risk comes from not knowing what you're doing." This is also the quote that has
changed my outlook; it means that we must be certain in everything we do; risk, or
more specifically negative outcomes, only appear when we are unsure of something;
if we are 100 percent certain about an outcome, we can maximize possibilities and be
certain about our decisions. It also motivates us to study more about things, because,
as they say, knowledge is the greatest power in the world; if you understand how
things work, you will have an edge that will push you to the top.
Warren Buffet's remarks and thinking clearly demonstrate why he is regarded as a
legendary investor. He demonstrates amazing strategies that push businesses to
excel, as well as how a different perspective may completely change your life. His
quotes/strategies are applicable not only in business, but also in life in general.