Food For Brain: Warren Buffet

The second-richest man, Mr. Warren Buffet who has donated $31 billion to charity. Here are
some very interesting aspects of his life.

He bought his first stock share at age 11 and he now regrets that he
started too late!

He bought a small farm at age 14 with savings from delivering
newspapers.

He still lives in the same small 3-bedroom house in mid-town Omaha, that
he bought after he got married 50 years ago. He says that he has
everything he needs in that house. His house does not have a wall or a
fence.

He drives his own car everywhere and does not have a driver or security
people around him.

He never travels by private jet, although he owns the world’s largest
private jet company.

Buffett’s company, Berkshire Hathaway, owns 63 companies. He writes only
one letter each year to the CEO’s of these companies, giving them goals
for the year. He never holds meetings or calls them on a regular basis.
He has given his CEO’s only two rules:

Rule number 1: do not lose any of your shareholder’s money. Rule number
2: Do not forget rule number 1.

He does not socialize with the high-society crowd.

His pastime after he gets home is to make himself some popcorn and watch
television.

Bill Gates, the world’s richest man met him for the first time only 5
years ago. Bill Gates did not think he had anything in common with
Warren Buffet. So he had scheduled his meeting only for a half hour. But
when Gates met him, the meeting lasted for ten hours, and Bill Gates
became a devotee of Warren Buffet.

Warren Buffet does not carry a cell phone, and he doesn’t have a
computer on his desk.

His advice to young people: Stay away from credit cards and invest in
yourself and remember:

A. Money doesn’t create man but it is the man who created money.

B. Live your life as simple as you are.

C. Don’t do what others say, just listen to them, but do what you feel
is good.

D. Don’t go on brand names; just wear those things in which you feel
comfortable.

E. Don’t waste your money on unnecessary things; rather,

spend on those people who are really in need.

F. After all it’s your life, then why give chance to others to rule

your life?

G. The best investment you can ever make, is to invest in the

Kingdom of God.

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11 thoughts on “Food For Brain: Warren Buffet

  1. Waren Buffet the richest man in the world after Bill Gates…. No meetings, no calls, no cell phone.. I wonder how can we apply the Knowledge management tools on this guy.But you know what, I like his last advice :The best investment you can ever make, is to invest in the Kingdom of God. لقد ذكرني بقول الله عز وجل في سورة الصف آية 10 يا أيها الذين آمنوا هل أدلكم على تجارة تنجيكم من عذاب اليم تؤمنون بالله و رسوله و تجاهدون في سبيل الله بأموالكم و أنفسكم ذلكم خير لكم إن كنتم تعلمون “

  2. Mohamed, sometimes KM initiative fails because there are reasons behind this failure..also there are critical success factors for any successful KM initiative. I remember that Dr.Laila gave us examples of these failure stories such as one pharmaceutical company and the reason was they didnt put special budget and resources for the KM project. So it is not KM fault.. people who dont know how to implement it..

  3. Mohammad, I took the same idea of KM at the beginning but day by day I noticed that KM is imoprtant in any organization even though you can notice that you are dealing with many KM tools without naming them as KM tools such as dealing with e-mails, your blog, forums, discussion group, meetings, I-portal, Gone well/Not gone well , after review action, etc..and we have to admit that in any system or any managerial process there are gaps, ther are successes and failure because your dealing with tacit and explict knowledge, and most of KM as you know is Tacit Knowledge, and in other words your dealing with people, staff, well trained proffesionals, IT, technology, infrastructure and many other issues that is realted to the success of KM. We are dealing with cycles ya Mohammad, so better you open the door little bit and I am sure we will see a light at the end of the tunnel. Now let me cut and paste from one of the articles, a study case, some of the failures of KM.

    Reasons for KM Failures

    According to Chua and Lam’s model of unsuccessful KM implementation [Chua,
    Lam 2005], there are four distinct categories of failure factors: technology, culture,
    content and project management.
    The first and most pronounced factor is blind faith in technical solutions such as
    the KM infrastructure, technology and tools within the KM implementation group.
    Failures in this category can occur when those KM tools developed have poor
    usability and users find the tools complicated to use. Connectivity problems arise
    when the technical infrastructure has limitations, such as insufficient bandwidth or
    problems with network connectivity. Over-reliance on KM tools can contribute to
    human issues and tacit knowledge being ignored.
    The second category is culture, including human and organizational behaviour.
    The failure factors in this category include for example politics, when KM is used to
    gain control and authority within the organization. Lack of management commitment
    and withdrawal of commitments during the KM process are other examples of failure
    factors. Perceived image refers to accessing others’ knowledge, which is perceived as a sign of inadequacy or insufficiency, by the users. The content category includes characteristics of the knowledge itself. Failure factors can be lack of knowledge structure, which makes the content meaningless and difficult to understand for the users. Relevance and currency, the content does not meet the user’s needs. Difficulties in distilling valuable knowledge from
    organizational processes are addressed as knowledge distillation.
    The fourth and last category, project management, includes the following failure
    factors: Lack of user involvement in the KM project can result in a misunderstanding
    of the user’s actual knowledge requirements. During KM implementation, individuals may move in the organization, relocate, or resign. Reorganizations can result in a shortage of technical and business expertise for the maintenance and use of KM tools.
    There is no ready-made plan for project evaluation, to track and measure achievement
    in the project.

    source:

    http://www.jucs.org/jucs_15_8/success_and_failure_factors/jucs_15_08_1735_1743_pettersson.pdf

    I’ll try to uplaod the article titled: Success and Failure Factors for KM:
    The Utilization of Knowledge in
    the Swedish Armed Forces by Ulrica Pettersson

    and sorry for the long comment, I should post it but i guess you got my point of view. May be wrong may be right. Last but not least, you r right Fatma, regarding the people who deal with KM. u remind of Newton with is apple and the theory of gravity,, our grand grand father was grapping and eating those apples and falling on his head without just saying that there is a theory behind those falling apples 🙂
    Best wishes
    Bo u sef

  4. Thank you for the good writeup. It actually used to be a amusement account
    it. Look complicated to more introduced agreeable
    from you! However, how can we be in contact?

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