Archive for April 26th, 2008

What It Takes

26th April
2008
written by Dr. Leslie Gaines-Ross

Hard to ignore Warren Buffett quotes. They are always so “right on.” Have been meaning to write this one down for the record and here goes:

“I don’t want an easy business for competitors. I want a business with a moat around it. I want a very valuable castle in the middle, and then I want a duke who is in charge of that castle to be very honest, hardworking, and able. Then I want a moat around that castle.”

Buffett is making the point that differentiation and the right leader make all the difference between a successful company and one doomed to fail. Our stumble rate (over three-quarters –79 percent– of the world’s number-one most admired companies lost their crowns over the past five years in their respective industries) makes it increasingly clear how hard it is for companies today to maintain a castle, moat and duke that keeps a good reputation afloat.

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Blogroll, Leadership, reputation