Mentoring is an act of transferring the knowledge and expertise you have in a certain area to a less knowledgeable person through guidance and support. The aim of such relationship is for significant development and improvement in the weakened areas to facilitate professional success. The Harvard drop-out and richest man alive in the past three years Bill Gates once said, “As we look ahead into the next century, leaders will be those who empower others” (Taylor, 2015). Through all his success and achievement Bill had always credited his mentor Warren Buffet the most successful investor of the twentieth century. In 1991, they met through a dinner hosted by Gate’s mother while talking it became obvious that Warren holds all the business skills …show more content…
This was the most influencing and important relationships in Bill’s life because it will help him in achieving his dreams. Technology was the field of excellence for him, but without having the ability to understand and manage the business aspect he wouldn’t have become the business mogul he is today. The way Warren guided him was much deeper than just how to invest which was Warren field of expertise. He showed Bill the fundamental and philosophies behind business decisions and how to make them even if the market recommend otherwise. Warren taught him how to see the whole picture to help foresee the market for its mistake and to change them to his profit. He directed Bill on the way to communicate with shareholder, as a CEO Bill needed to keep them updated with the firm’s operations thru sending a yearly shareholder letter, by being tough minded, true to his values he would write about both good and bad results. Warren senses of humor, which Bill admiration was shown in his way of communication even in a core financial based document he would say, “You can't produce a baby in one month by getting nine women pregnant” (Andersen, 2013). Bill learned from him the value of time and how to say no more often to useless meetings in order to be able to do the important material. Warren is the perfect Mentor he helped Bill in achieving his visions also he encouraged him to be a philanthropist and donated most of his wealth to charity. He still maintains his relationship with Bill thru continues advising and caring
From they aspect that these men are icons in our society it is important to see that that set up a form of business that is so widely practiced it is almost impossible to find a CEO that does not run multiple parts in our market. Basically these men set a viable mold for present day economics. For example the companies of MSN, NBC, MSNBC, Time Warner Cable, Warner Bros, CNN and many more are all owned and operated by the same group of people. However, there are many other issues that stem from this control of such economical giants that will have to be touched on during some latter date.
He took a crucial role in underwriting companies that were made for public offering. He also increased his business endeavors through railroads, share holding, handling offering, financing, and placing his employees on company boards. At that time railroads were growing exponentially through the continent, and he had picked the best time to expand his banks wealth and his own personal power.
Thomas W. Dortch, Jr. (2000). The miracle of mentoring: the joy of investing in our future, New York: Doubleday.
Overall, Mr. Herndon was an amazing person. (Topic) He overcame poverty, and built one of the biggest companies in the country. It seemed like a plan was not in motion, but God prepared him with a purpose in life. Colossians 1:9 says, “We continually ask to fill God to fill you with the knowledge of his will through all the wisdom and understanding that the Spirit gives,” (New International
He sold his business to JPMorgan for 480 million dollars. After accumulating that wealth, he gave away his fortune. Instead of focusing on giving money to the poor, he gave them a way of being able to accumulate wealth themselves. He established over 2,500 libraries to help educate children. He ended up giving away over 350 million dollars by the time he died.
His actions are important to history because they “exemplified the large scale philanthropy of the newly rich in industrial America” Zunz, Olivier (2011). Philanthropy in America, A History: Politics and Society in Twentieth-Century America which is conveyed his speech the Gospel of Wealth. His actions that led to his wealth were similarly important as he was on the forefront of the industrial revolution under his steel empire. And controversies involving the Homestead Strike and Johnstown Flood.
...earst has had a great influence on our American society with all of the great things that he has done. Starting with his childhood William had an outstanding family to support him in his ever interested mind in the field of journalism. Williams father had gave him one of the biggest things in his life , the newspaper company which gave William something to start with , and he blossomed in to a huge owner of many newspaper companies. Williams’s impact on our society is tremendous. Just image not walking out to your mail box, or opening up your internet in your computer, and not seeing the news. Without William Hearst none of this really would have happened. William Randolph Hearst stayed efficiently remembered through his family and personal life, too his economic and industrial pursuit to the newspaper chains, and lastly his wonderful impact on our society today.
helped him make profitable investments and this is how he was able to build his capital. He
...and his passion for the car industry to merge two car companies together in order for them to benefit from each other at a precise time in the market when he was able to be successful. He understood the problems the company faced, the demand in the market, and he had a clear vision on how to solve it. He gave himself timelines and goals and each were met with great success.
...nd made very covert, alienating deals (South Improvement Scheme), but through all his morally conflicting actions, he turned out to be one of the most powerful and richest men of the world in that time. As he was rich and powerful he was also a devout christian, and by the end of his life sought to clear his name of demeaning rumors and conspiracies, by being a generous philanthropist. Rockefeller has a made a huge impact on modern business today as most of his strategies such as vertical and horizontal integration, and the buying out and assimilation of competitors, is still in use today, albeit a bit restricted because of the laws today and the ones still standing. Nevertheless, Rockefeller didn't just usher in a new era of business and economics which has changed the way people think today, but also has contributed much by donating and bestowing much to society.
He says that mentoring is something that leaders should do throughout their career since it is not only beneficial to themselves, but it is also beneficial to the person they are mentoring. It is important to identify and groom key players and use aggressive mentoring to not only lift up your employee, but it also improves the skills of the mentor. In today’s society, he has found that it is important to spend at least one day a month mentoring your key players including people who are showing great potential. Mentoring should be done at all levels of leadership, including junior managers. Mentoring is important at all levels of management in order to develop future leaders (Flaum,
Because of the simplicity of his childhood, Carnegie’s business decisions were shrewd and wise. He was able to find financial support for his enterprise, he was accurate with his calculations on consolidation and expansion. Capitalizing on smart business decisions was one of Carnegie’s biggest strength. His humble mind, cultivated in his childhood, remained and allowed him to be thrifty with his profits- saving them in prosperous times and investing them at low times.
Through all of Carnegie's hard work his steel company become the classic example combined with innovative management to create a mass-production system (Boyer, page 539). The production of steel was being massively reproduction national making him rich and the public calling him the world’s richest man. With Carnegie making a lot of money, he decided to donated some his money to charitable projects, libraries, universities, and international-peace causes; And in his lifetime he gave more than 300 million dollars (Boyer, page 540). With all of Carnegie’s success he portrayed it all as hard work and self-discipline, while Carnegie was able to see the bigger picture and he had cleverness behind all his hiring talented associates. So he his lifetime he gave over 300 million dollars to support others to shape the future with the money that was donated to the universities and international- peace causes; and with the other donated money going to the charitable projects was helping shape their life and maybe they could help shape the
Bernays was very beneficial to society and many of the things that Larry Tye said about him have very strong support. As relayed by Larry Tye, Edward Bernay’s genius is undeniable. He is able to correlate ideas and concepts with products and services in order to expand business. When Tye writes of how Bernays acquired his first real “CEO” job as co-president of two medical papers that his friends father had given to them.
...unts of information and have applied that knowledge to create capital, wealth for the future. In each example, one can see an instance in which these leaders were able to see what others could not see and direct their workers toward the future goal.