Strategic Management

The following are strategies the famous Warren Buffet believed as measures of success. For each:

1. Someone is sitting in the shade today because someone planted a tree a long time ago.

a. give a brief and concise personal interpretation

b. Relate an incident or experience

2. It takes 20 years to build a reputation and five minutes to ruin it.

a. give a brief and concise personal interpretation

b. Relate an incident or experience

3. Risk comes from not knowing what you are doing.

a. give a brief and concise personal interpretation

b. Relate an incident or experience

4. It is better to hang out with people better than you and you will drift in that direction.

a. give a brief and concise personal interpretation

b. Relate an incident or experience

5. Price is what you pay. Value is what you get.

a. give a brief and concise personal interpretation

b. Relate an incident or experience

6. Chains of habit are too light to be felt until they are too heavy to be broken.

a. give a brief and concise personal interpretation

b. Relate an incident or experience

7. There seems to be some perverse human characteristic that likes to make easy things difficult.

a. give a brief and concise personal interpretation

b. Relate an incident or experience

8. Wall Street is the only place that people ride in a Rolls Royce to get advice from those who take the subway.

a. give a brief and concise personal interpretation

b. Relate an incident or experience