Charlie Munger interviewed after the annual Berkshire Hathaway shareholders meeting in 2015. Image by Kent Sievers on Shutterstock. Charles Munger, who stood as a remarkable pillar in Berkshire Hathaway's development for nearly six decades alongside Warren Buffett, passed away at 99 on 28 November 2023. Munger was fundamental in the transformation of Berkshire Hathaway from a struggling textile production company into a global powerhouse. His passing occurred in a California hospital on Tuesday, as reported by the firm. Known for his long-standing residency in Los Angeles, Munger's vast contributions have not gone unnoticed. "Without Charlie's invaluable inspiration, wisdom, and involvement, Berkshire Hathaway wouldn't be where it is today," Buffett articulated in the statement. Born in Omaha, Nebraska in 1924, Munger was…
Future-Proofing in an Uncertain World: Preparing for the Storm Before the Sun Economic conditions are shifting rapidly, with rising operating costs, supply chain instability and unpredictable shifts in consumer demand across most industries. Globalisation has accelerated growth and expanded market access for many businesses, but it has also made businesses more susceptible to external shocks - where geopolitical tensions and policy changes such as trade tariffs can rapidly disrupt entire value chains. The interconnectedness of global markets means that disruptions in one region can reverberate worldwide, amplifying financial risk and strategic uncertainty. The global economy no longer moves in cycles of calm and chaos; instead, instability has become constant. In this context, the ability to lead with clarity and composure…
The strategic value of accounting in business Accounting is often perceived as a back-office necessity— primarily to manage cash flow and for regulatory purposes. However, this limited view can be costly. Misconceptions about the role of accounting can lead business leaders to neglect financial oversight, increasing their risk of cash flow and compliance issues. Beyond simply transactional record-keeping, accounting can provide valuable insights to highlight operational inefficiencies, drive business growth and stabilise long-term financials. This article examines common misconceptions about accounting, challenging the belief that it is only relevant for large corporations or that profitable businesses can afford to deprioritise financial oversight. By tackling these five prevalent myths, we highlight how accounting is essential, regardless of the size, stage of…
Image by Jirsak via Shutterstock In today's fast-paced, interconnected business world, a crisis can present itself without warning, catching even the most prepared organizations off-guard. A twist in market dynamics, an unforeseen operational failure, or a global phenomenon such as the COVID-19 pandemic - there's an array of situations that may impose severe challenges for any business. According to statistics from FEMA, nearly 40% of small businesses never reopen after a disaster, demonstrating the significant impact a crisis can have on an organization's survival. “Crisis management is the art of avoiding trouble when you can, and managing it well when you can’t.” The importance of crisis management cannot be overstated. A robust, action-oriented strategy not only mitigates the immediate impact but also shields long-term reputation and shareholder…
Your People Are Human Capital, Not Cogs in a Machine In our previous article "How to Rethink Innovation in an AI-Driven World?", we highlighted how creativity, empathy and ethical reasoning remain indispensable in an increasingly automated future. This article takes that exploration even further by delving into the critical question: what happens when these vital human traits are neglected in the relentless pursuit of efficiency and profit maximisation? For many leaders, the global marketplace has reinforced a dangerous perception: that people are ultimately expendable assets. What leaders must grasp is people are not machines. Chronic stress and overwhelm invariably result in burnout, disengagement from work, and high employee turnover. Unlike machines, people carry emotional loads, cognitive limits, and social needs.…
