Warren Buffett: Advice for Procurement Leaders

Has the Sage of Omaha really offered advice for procurement leaders? In an indirect way, through personal example, yes. 

I was reading an article in last Sunday’s Pittsburgh Post-Gazette titled “How Warren Buffett Got Rich,” by Rudolph Weingartner, a professor at the University of Pittsburgh. 

The author encapsulated his own views of why Buffett has been so successful. In Weingartner’s assessment, Buffett possesses these important traits: 

• “Informed intuition,” sometimes referred to as “nose.” This is the ability to “smell out what is plausible or more.”
• “Laborious homework,” also referred to as “analytical savviness.” This, combined with the intuition, helps Buffett identify what is relevant, what to focus on, and the value that might be possible.
• “Grit,” which the author defines as “the courage to go after an envisaged goal, obstacles and uncertainties… notwithstanding.” 

While the article was written from the perspective of explaining Buffett’s investment success, you can probably see the relevance to the subject of leadership in general, and transformation leadership more specifically. 

You can access the full article here: 

http://www.post-gazette.com/pg/09228/990948-109.stm