In business world the manager is a leader of the company that leads his/her employees to success and happiness. Being qualified for this positions one must have these aspects, aggressive, motivated, risk taker, respectful and trustworthy. One who has these qualifies is a successful manager. Two people in this world that clearly showed these qualifications are Bill Gates and Warren Buffett. They are the two of smartest, wealthiest and goal oriented people on this planet. They both succeeded in two different areas but both had the same aspects in being a manager of their company.
The video “Warren Buffett and Bill Gates on Success” was with Bill Gates and Warren Buffett answering questions at University of Washington School of Business about their success and helpful tips they have learned for future successful business men and women. The video showed many aspects that gave knowledge and practices for everyone to use to become a successful manager and having a successful company. They both were very friendly and out-going with the audience which showed that what they are doing is what they really enjoy. Warren Buffett and Bill Gates are two who are admire and looked up to millions of people worldwide by their knowledge and their success they have today.
Bill gates and Warren Buffett are the two most successful people in the United States some might even call them the American folk hero. “Bill Gates has an aggressive, winner-takes-all attitude; he transformed Microsoft, a small niche company, into the most influential company in the computer industry and the world for that matter. He’s driven, intelligent and doesn’t apologize for the fact
that he can take you down in a flash. He is also the co-founder and chairman of Microsoft, the worlds largest and most powerful (and most profitable) software company. And by the way, he is the richest man on the planet with an estimated fortune of $70 billion US (as of November 2000)”. (http://www.askmen.com/men/business_politics/33_bill_gates.html)
“Warren Buffett came from a small town and made it big without losing sight of his roots in the process. Even though he is a billionaire many times over, he still lives in the same house he bought before he was rich and is considered an all-around good guy. He’s tough but modest, and for that we salute him. He turned his company, Berkshire Hathaway, almost single-handedly over the last 30 years, into a Fortune 500 powerhouse. He has amassed a personal fortune of $36 billion dollars and is considered the most successful investor of all-time.” (http://www.askmen.com/men/business_politics/43c_warren_buffett.html)
The video “Warren Buffett and Bill Gates on Success” was with Bill Gates and Warren Buffett at University of Washington School of Business answering questions from audience about their lives, their success, and company skills. They talked and touched on many important skills and aspects to implement as a good manager of your company. There were many important aspects that can be learned from the review of the video. The three most important aspects from the video were love what your do, surround yourself with people whom you respect and trust, and be willing to take risks.
The first aspect learned from the video is love what you do. When working with a company or anything you must love what your do or you will not be able to put one hundred percent of your focus, effort, and skill into doing your job. Loving your job is the best feeling in the world because you are doing something that fulfills happiness and maybe even entertainment while being paid for it. Bill gates and Warren Buffett are one of the two most wealthiest people in the world and still put one hundred percent focus, effort, and skill into there job not because of the paycheck because they already have billions of dollars but also because they love what the do and get up each morning loving their job and the every day to day task and experience.
There are millions of people all over the country that do not love what they do which really hurts their work progress and success in the business world. When you look at the Theory X, it states that workers are lazy, not motivated, slow, and low productivity. This is a major result of not loving what you do. Not loving what you do will cause you to fall under the Theory X and labeled as a lazy worker. The video teaches us to love what you do and what will follow is success and happiness.
The second aspect learned from the video is surround yourself with people whom you respect and trust. This is a major and important aspect needed when working and especially running and or managing a company. This is because if you can not trust the people you work with or managing then it is like
working or running a company blindfolded. Trust is a major quality in every type of relationship from friendship, love relationship, marriage and workmanship. When you can not trust someone in your company then you and your company will hurt in the long run. Also respect is a major quality; you should respect everyone you work with. This will get respect coming back to you which will give a positive feedback emotionally and in productivity. When you do not have people surrounding yourself that you can trust and respect then it will cause must stress which will hurt you and your company.
Third is being willing to take risks. Bill gates and Warren Buffett stressed in the video how this aspect is very important in being successful in the business world. This aspect separates the successful people from the non-successful people. In the business world you have many decisions to make everyday and many if not all of them will include a risk. Most and almost all successful business men are the ones that take risks everyday. When taking risks in business does not mean taking some really big risk once in a while and relax and wait for a while. Taking risks in business means continuously taking many little risks and always improving on something. Risks are situations that will either enhance your company or hurt your company, but you must be a risk taker in order to succeed. “Risk comes from not knowing what you’re doing”. Quote by Warren Buffett. (http://www.askmen.com/men/business_politics/43c_warren_buffett.html)
As a manager of my company I would implement those three aspects learned from the video to the fullest. Warren Buffett and Bill Gates strongly show these three important aspects to be true and are successful because of their position today they hold. I agree with them strongly about those three important aspects. The three important aspects in the video that Warren Buffett and Bill Gates talked about are love what you do, surround yourself with people whom you respect and trust, and be willing to take risks. These are very important aspects that as a manager must keep in top priority in order to be a successful manager and have a successful company.
In the video Warren Buffett and Bill Gates touched upon that managers that are motivational and enthusiastic can motivate others and will have a successful working environment in the business. Warren Buffet and Bill Gates are both billionaires and really have no worries about any money issues but still work hard and are very much motivated and enthusiastic to succeed more each day. This aspect I would implement as a manager with enthusiasm and motivation to all co-workers and employees to increase productivity and success for my company. I as a manager of my company I will motivate the employees in many ways. First is obviously is a paycheck. People work because they need money to feed, clothe, and house themselves and even their families. In years past, the way companies got people to work harder was to offer them more money. But today most companies offer less opportunity for raises and
promotions and today’s workers respond to different motivational tools. To implement the motivation to the employees as a manager today you must understand and know what the employee value so that you can motivate them through increasing their values to please them. The employees’ value four main values in the work field they are recognition, status, chance to contribute to company goals and paycheck. As a manager I will understand these values and give back to them by appreciating their work, promote them from time to time, let them contribute to the company goals and when their productivity increases their salary each year will increase. I believe to increase the success of the company and productivity of the company one must motivate their employees or else the company will fall apart.
Another aspect that the video taught that as a manager I would implement is to be a role model and or leader. When you’re a manager of a company you have some or even many employees under you that look up to you as a role model. This is true but you are also a leader to them. They listen to you and follow you as you guide them and lead them to success. This aspect can also be combine with the aspect of love what you do. This is because as a manager I must love what I do because I have many co-workers and employees that look up to me hoping and working hard will to get to my position to lead others. Therefore I am a role model and leader to the other co-workers and employees of my company.
Another aspect this overlaps of the important aspects of the video and that is to surround yourself with people whom you respect and trust. By when other employees’ sees you respecting and trusting everyone around yourself equality they take note of that. They see someone who will succeed and lead them to success and this become one of their goals to get to your position. I as a manager will become a role model to the other co-workers and employees.
There are many important aspects for a manager that the video could not cover in the one hour of tape. In the class we discussed about many important aspects also. There is one important aspect and or skill a successful manager should have that the video touch on a little but not all of it and that is emotional intelligence. Emotional intelligence is the ability to connect with people and understand their emotions. Emotional intelligence can be broken down into five key factors they are self-awareness, self-regulation, motivation, empathy, and social skill. The video talked about one of them a little and that is motivation. The other four are very important too. The first one is self-awareness which is to understand your own moods, emotions, and needs, as well as their impact on others. Second one is self-regulation which is to control impulsiveness, calming down anxiety, and reaching with appropriate anger to situations. Third is motivation which is a passion to work for reasons in addition to money and status. The four is empathy which is to understand and respond to the unspoken feelings of others. And last is social skill which is competency in managing
relationships, building networks of support, and having a positive relationship with people. These five factors of emotional intelligence is a very important aspect to a successful manager because it is the key factors in dealing with people and developing relations with the people and keeping the relations strong and long. As a manager of my company emotional intelligence is a very important aspect in having a successful company.
To be a successful manager one must have the knowledge of all the aspects that were discussed throughout the paper. Warren Buffett and Bill Gates are perfect examples of successful managers. They clearly showed important aspects to be a successful manager and that is loving what you do, surrounding themselves with people whom they respect and trusted, emotional intelligence and were willing to take risks. Their success has motivated and inspired millions to succeed in their company and in their lives.
Today in the business world there are many successful business men and women that succeed in their own areas of business. The main reasons of their success are of their aspects on managing their company from taking risks to motivation and commitment. A successful manager is also a leader to the other co-workers and employees of the company; he/she must guide and lead them to success and happiness.
1. No author. (2004, November) Man of the week. Online Available: http://www.askmen.com/men/business_politics/33_bill_gates.html/. November 28, 2004.
2. No author. (2004, November) Man of the week. Online Available: http://www.askmen.com/men/business_politics/43c_warren_buffett.html./ November 28, 2004.