MGT 401 Case 5 Leadership and Change Essay Example | Topics and Well Written Essays - 1000 words

MGT 401 Case 5 Leadership and Change - Essay Example Berkshire Hathaway Incorporation is operating in the conglomerate industry since 1955. Since then, the company is thriving and running its successful ventures in the industry. Warren Buffet built an amazing record in the company with his remarkable leadership skills that does not only gave the direction but also ensured that the employees and other staff members are following his direction along him. At the time when Warren Buffet took control of Berkshire Hathaway, the company was only dealing in the textile business, the strategies of savvy deal making by Warren led the company to a great success and converted the textile industry into conglomerate industry in the next 50 years. In recent times, Warren Buffet is looking to convey his succession plan to other eligible members of the company. Undoubtedly, as a CEO, Warren alone with his leadership skills has developed and brought the company to a stage where several minds could think to reach. The company must bring changes in its leadership roles with time after reaching a certain level of success, one succession plan could be helpful and entertaining till a certain period, and then the company has to adopt some changes in its leadership management and its succession plan. Berkshire Hathaway was living on a succession phenomenon where the company was afraid to release a title icon from a seat. It is also a fact that new and fresh minds could bring more succession plans by combining their minds with the experienced mind. Berkshire Hathaway has also implied the same formula for its giant venture (Rothwell, 2010). In my opinion, Berkshire Hathaway has performed an outstanding and remarkable job in the industry. The whole industry and management teams are now in the resonance of the company’s success. It is the right time for Berkshire Hathaway to prepare for the succession. Warren Buffet is now 80 years of age, and his great experience, the internal position holders should adopt strong