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ASSIGNMENT INSTRUCTIONS:
Company – Berkshire Hathaway
Research the company you have chosen for your final project, finding something in recent news (less than 8 weeks old) that pertains to a significant change effort that has happened recently, is currently happening, or if you can’t find a change effort under way, then choose something currently going on that really needs to change. Briefly explain the change itself, then explain what the company did (is doing, or should do) to be successful in the change process, why the change was necessary, and what roadblocks or resistance they met (or would likely meet). Did they handle the change process successfully? What would you have done differently if you were leading their change effort?
Your initial post should be a minimum of 300 words in length
HOW TO WORK ON THIS ASSIGNMENT (EXAMPLE ESSAY / DRAFT)
Berkshire Hathaway, a multinational conglomerate holding company based in Omaha, Nebraska, recently made a significant change effort by investing $8 billion in electric vehicle (EV) manufacturer, Tesla. This investment marks a departure from Berkshire Hathaway’s traditional strategy of avoiding technology investments, and represents a major shift in the company’s focus towards the growing trend of electric vehicles.
The investment in Tesla was necessary due to the growing demand for electric vehicles, and the potential for long-term growth in this market. By investing in Tesla, Berkshire Hathaway was able to take advantage of this growth and position itself as a leader in the electric vehicle market. The investment also demonstrates the company’s commitment to investing in companies that have a positive impact on the environment and society.
However, the change process was not without its challenges. Some investors and analysts were skeptical about the investment due to Tesla’s high valuation and volatile stock price. Additionally, the company’s reputation for avoiding technology investments made this investment in Tesla a departure from its usual strategy.
Despite these roadblocks, Berkshire Hathaway handled the change process successfully. The company’s CEO, Warren Buffett, is known for his ability to identify long-term trends and make strategic investments, and this investment in Tesla was no exception. The company was able to overcome the resistance and skepticism by focusing on the long-term growth potential of the electric vehicle market and the position that Tesla holds in this market.
If I were leading this change effort, I would have taken a similar approach to Berkshire Hathaway. I would have focused on the long-term growth potential of the electric vehicle market and the position that Tesla holds in this market. Additionally, I would have sought to reassure investors and analysts by pointing to the successful track record of Berkshire Hathaway in making strategic investments and the expertise of its CEO, Warren Buffett.
In conclusion, Berkshire Hathaway’s investment in Tesla represents a significant change effort for the company, and it was handled successfully. The company was able to overcome the resistance and skepticism by focusing on the long-term growth potential of the electric vehicle market and the position that Tesla holds in this market. This investment demonstrates Berkshire Hathaway’s commitment to investing in companies that have a positive impact on the environment and society, and represents a major shift in the company’s focus towards the growing trend of electric vehicles.
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