Essays on Munger

As per the Affordable Care Act (ACA), health literacy can be defined as, “ The ability of an individual to make informed decisions with respect to obtain, communicate, process, and understand information pertaining to healthcare” Based on the annual report published by the ACA, only 12% of the US adult population is considered to be proficient in health literacy while 1/3rd of the population suffers from healthcare illiteracy and suffer from making common health decisions Based on the same report, more than 75% of patients suffer from healthcare associated decisions since most patients tend to forget more than half of ...

Born on November 19, 1909 in Vienna, Peter Drucker was well known for his writings in the field of economics earning the moniker “the man who invented management” from no less than the Business Week. Drucker was born in a family of intellectuals that normally played host to renowned personalities in the field of economics, politics, music, and science. Drucker considered this background his first education. He went on to study admiralty law in the 1920s and had to move to Germany in the process. He enrolled at Hamburg University and later on at Frankfurt University. He also worked ...

Management of Berkshire Hathaway

- Corporate strategy The corporate strategy of Berkshire Hathaway can be described as a heavily decentralised system of company management. This strategy places colossal reliance on the abilities and capacities of local managers instead of centralising systems. It is said the operating structure embraced extreme decentralisation. Munger correctly opines that theirs was delegation just short of abdication. Indeed the strategy is founded on the concept of giving the local manager essential powers that facilitates management without the necessary and unnecessary cases of consultation. This is largely premised on the concept of faith and trust on the local management. According ...