Friday, April 08, 2011

What is wind?

Warren Buffet on business management success:

It is comforting to be in a business where some mistakes can be made and yet a quite satisfactory overall performance can be achieved. In a sense, this is the opposite case from our textile business where even very good management probably can average only modest results. One of the lessons your management has learned - and, unfortunately, sometimes re-learned - is the importance of being in businesses where tailwinds prevail rather than headwinds.

Berkshire Hathaway, Inc. Chairman's Letter. March 14,1978

quote, business, evolution, system, management,

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