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  • Essay / Buffett Case Study - 1804

    One of these qualities is having followers. No leader succeeds without followers. For Buffett's vision of being rich to become a reality, he needed people to see his vision with him. Buffett had to convince his followers of what is possible if they see his vision. Therefore, to achieve this, Buffett had to build trust. According to Bennis (2009), leaders possess four ingredients that generate and maintain trust: consistency, congruence, reliability, and integrity (p. 152). Buffett presents these aspects in particular through the letters he writes to his Berkshire Hathaway shareholders. In these letters, he discusses what happened during the year and what to expect in the future (Gad, 2014). In doing so, Buffett stays in touch with his shareholders and displays his credibility and integrity by making the effort to reach out to his shareholders. A person of her power and status, who makes the effort to reach out to her shareholders shows that she truly cares about them. By having the shareholders on his side, he is able to create more investment opportunities and advance not only his wealth, but also that of the shareholders.