"The managers at fault periodically report on..." - Quote by Warren Buffett
The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons.
More by Warren Buffett
“Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.”
“I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.”
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”
More on Learning
“Wise men learn by others' harms, fools scarcely by their own.”
“Never be discouraged, because every wrong turn attempt, when left behind you, is another step forward taking you closer to your goals.”
“When I was young, I had to learn the fundamentals of basketball. You can have all the physical ability in the world, but you still have to know the fundamentals.”
More on Management
“Top management as a function and as a structure was first developed by Georg von Siemens (1839-1901) in Germany between 1870 and 1880, when he designed and built the Deutsche Bank and made it, within a very few years, into continental Europe's leading and most dynamic financial institution.”
“Most of what we call management consists of making it difficult for people to get their work done.”
“Not to innovate is the single largest reason for the decline of existing organizations. Not to know how to manage is the single largest reason for the failure of new ventures.”