16. April 2010 14:58
In his annual letter to shareholders, Warren Buffett wrote (emphasis added):
“We tend to let our many subsidiaries operate on their own, without our supervising and monitoring them to any degree. That means we are sometimes late in spotting management problems and that both operating and capital decisions are occasionally made with which Charlie and I would have disagreed had we been consulted. Most of our managers, however, use the independence we grant them magnificently, rewarding our confidence by maintaining an owneroriented attitude that is invaluable and too seldom found in huge organizations. We would rather suffer the visible costs of a few bad decisions than incur the many invisible costs that come from decisions made too slowly – or not at all – because of a stifling bureaucracy.”
There are times when working in an enterprise can be frustrating because there are individuals who deliberately and regularly hinder your work while hiding behind the plausible deniability and comfortable safety of that stifling bureaucracy of which Warren Buffett so sagely speaks.
The question is what to do when you find yourself in that situation. There can be only three answers, I believe. Either you succeed in spite of the efforts of well seasoned bureaucrats and hope that attrition wins the day or you fail while trying or even give up somewhere along the line, resigning yourself to failure. The third alternative is that you find another ball field and another team on which to play and never look back.
Which one would you choose?