Monday, September 12, 2016

When Leaders hire junior mentors

In the 1990s, when Jack Welch faced some tough decisions about how to exploit the Internet, he chose experience as a solution to the biases he might have.

He hired a personal Internet mentor who was more than 25 years his junior and encouraged his top managers to do the same.

Warren Buffett recommends extra challenge as a solution to biases that arise during acquisitions. Whenever a company is paying part of the price with shares, he proposes using an “adviser against the deal,” who would be compensated well only if it did not go through.

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