Thought-Provoking Adage

The other night a waiter (Nathan) recited the following adage to me, first told him by his father:

When you don't stand for something you will get knocked over by nothing.

I wonder how many executives at Mattel are now wishing that they had heeded Nathan's Dad's advice? From a business standpoint, nothing could be more true over the long haul. The principles that underpin the culture and arise out of the strategy act as a skeleton for the organization's structural integrity. And the edifice will stand or crumble depending on their stamina, strength and ubiquity.

Berkshire-Hathaway's Owner's Manual

When you are lucky enough to be able to purchase Berkshire-Hathaway stock, you will receive an "Owner's Manual". Within it are 15 principles that Warren Buffett and his partner, Charlie Munger, promise to be guided by (and warn that they will be guided by). It's a great example of being Powered by Principle-- and more specifically, of the courage it takes to let those who can't align with those principles fall by the wayside. Buffett suggests in this manual that if the new owner is comfortable with and shares these principles, he will be content as a stockholder; and if he isn't and doesn't he should probably get out.

The full link is: Berkshire-Hathaway Owner's Manual, Owner-Related Principles

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