At the latest annual shareholders meeting in Nebraska, Berkshire Hathaway CEO Warren Buffett spoke about his overarching leadership principle for managing 360,000 employees, reports CNBC.
At the core of his leadership philosophy is an emphasis on positive behavior and trust as opposed to enforcing strict rules.
"We count very heavily on principles of behavior rather than loads of rules," Mr. Buffett, 86, told the roughly 30,000 attendees.
Mr. Buffett has often discussed the importance of displaying and promoting good behavior. He once said, "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently," according to the report.
In HBO's "Becoming Warren Buffett" documentary, Mr. Buffett is showed speaking to a group of high school students, to whom he offers insights on the importance of having good morals.
"Warren told them tricks about life itself, and how to live a good life, how to have principles, and how to work hard and be patient," director Peter Kunhardt told CNBC.
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