Berkshire Hathaway (Berkshire), a conglomerate having roughly 80 subsidiaries as of March 2011, and, which generated superior returns for shareholders, is a prime example of such blue chip entities. Berkshire was equally known for the famed personality of its head, Warren Buffett (Buffett), who believed in a hands-off style of management and gave unfettered freedom to the heads of the subsidiaries to operate their respective businesses the way they wanted, subject to the conglomerate’s reputation not being compromised. Buffett’s laissez-faire approach could be gauged from the fact that the conglomerate whose turnover for financial year 2010 was around US $136 billion had, as of April 2011, just 21 employees at its head office to administer its 257,000 employees. Click here to read more…
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