【商業智慧】巴菲特與芒格的管理智慧 Buffett and Munger's Management Wisdom
首先，巴菲特和芒格重視的是吸引和保留優秀的經理人才。他們深知，公司成功的關鍵在於擁有能夠獨立運作、有自主性的團隊領導者。巴菲特喜歡用高爾夫球隊來比喻他的經營方式，就像Jack Nicklaus或Arnold Palmer般的高手，不需要教他們怎麼揮桿。因此，他們不遺餘力地尋找那些即便在困難環境中也能脫穎而出的經理人，並給予他們充分的信任和自由，讓他們自由發揮。
The investment world's giant, Munger, has passed away, leaving behind countless invaluable insights. Buffett and Munger, the legendary duo in the investment world, began their collaboration in 1959 after a chance meeting, and since then, this pair has run Berkshire Hathaway for sixty years with exceptional investment acumen and a unique management style. But do you know what their secret to success was?
First, Buffett and Munger valued attracting and retaining talented managers. They understood that the key to a company's success lies in having independent, autonomous team leaders. Buffett likes to compare his management approach to a golf team. If you have masters like Jack Nicklaus or Arnold Palmer, you don’t need to teach them how to swing. Therefore, they spared no effort in finding managers who could excel even in challenging environments, giving them full trust and freedom to perform.
Next, "not interfering with managers' work" is another principle of Buffett and Munger. They firmly believed that giving managers enough autonomy could unleash their potential and creativity. They thought that constant interference in managers' decisions would not only undermine their confidence but could also lead to their departure. They preferred to work with those they "admire and like," granting them complete autonomy.
Additionally, Buffett and Munger had a unique management concept, which was to let every manager work under three assumptions: they are the sole shareholder of the company, the company is the only asset they and their family own now and in the future, and they cannot sell the company or merge it with another for at least the next hundred years. This approach encouraged managers to focus on long-term value enhancement rather than just short-term profits.
Finally, the success of Buffett and Munger also lay in their focus on long-term competitive positioning. They strengthened the company's competitiveness by continuously improving customer satisfaction, controlling costs, and enhancing products and services. They called this "moat," aiming to ensure the company remains strong for decades to come.
Buffett and Munger success lies not only in how they chose investments but also in their understanding of people and commitment to their business philosophy. Their management philosophy emphasised the importance and respect for talent. With their simple and wise approach, they built an immensely influential corporation.