Topic > Case Study Buffett - 1804

One of these qualities is having followers. No leader is successful without followers. For Buffett's vision of being rich to become a reality, he needed people to see his vision with him. Buffett had to convince his followers what is possible if they see his vision. Therefore, to do this, Buffett had to build trust. According to Bennis (2009) there are four ingredients of leaders that generate and sustain trust: consistency, congruity, reliability, integrity (p. 152). One way Buffett shows these aspects is through the letters he writes to his Berkshire Hathaway shareholders. In these letters he discusses what happened during the year and what to expect for the future (Gad, 2014). In this way, Buffett stays in touch with his shareholders and demonstrates his credibility and integrity by making the effort to reach out to his shareholders. A person of his power and status who makes the effort to reach out to his shareholders shows that he truly cares about them. By having shareholders on his side, he is able to create more investment opportunities and promote not only his wealth, but that of shareholders.