(Mt) – MGT 5093 Trine University Business Management and Strategy Berkshire Hathaway

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View attached explanation and answer. Let me know if you have any questions.1Teamwork Versus Individualist CultureStudent NameInstitutionCourse NameInstructor NameDate2Teamwork Versus Individualist CultureIntroductionUnity of purpose is essential in every aspect of life. Strategies are developed to pullmore resources that are financial and non-financial. Most business methods involve all thedepartments, thus the need for teamwork. Individual efforts have to be pulled together toachieve the set team objectives to attain collaboration. This paper aims to discuss the value ofteamwork while drawing comparisons from individual efforts.How Teamwork Differs from Individual WorkTeams differ from individual work from the decision-making aspect of the task (FloresSzwagrzak, K., & Treibich, R., 2020). In groups, the participants must agree on almost all thedecisions and the team’s direction. In most cases, individuals have been given the mandate ofdecision making. In individual work, a determination is all upon the person doing the task.Teams provide collaboration, which is essential in providing a different angle of problemsolving and more substantial working relationships. Units allow more idea generation and thusmore diverse and innovative ideas than individuals working (Flores-Szwagrzak, K., &Treibich, R., 2020). Groups provide the members with the needed motivation asencouragement is always available from team members.Teams differ in the productivity it yields compared to individual work, as each memberwill be allocated tasks that suit their skill set. Teamwork provides members with the ability todevelop their skills. Working with members who are well experienced in your career willprovide the needed opportunity to learn more from the team than handling the task alone. Timemanagement and earlier task completion are higher among groups than individual work(Flores-Szwagrzak, K., & Treibich, R., 2020). Members are likely to be given schedules to3work with, which makes tasks quickly completed within the stipulated time, compared withindividual work, where all the duties are supposed to be done by the person in charge.How does The Use of Rewards Enhances Teamwork?Productivity improvement is recorded when employees are well recognized andrewarded for their efforts (Apoorva, M., 2019). This is by making them feel valued and enjoythe task they perform. Employers work more effectively and efficiently if they understand whatthey will do will be rewarded. Rewards improve teamwork through the boost in morale that itgenerates. Rewards are the best way of boosting the confidence of a team. Collaboration alsorequires the team members to be retained, which may maintain their understanding. Rewardinghelps to keep the employees who will guarantee the team’s continuity.Rewarding helps to improve communication in the workplace (Akafo, V., & Boateng,P. A., 2015). Team members will communicate brilliantly if they understand that theirachievement will attract a given recognition. Team members will also easily share their ideas,theories, and expectations. Rewards also help the team attract recruits with ease. Happyemployees will recommend qualified employees to be employed by the organization.Teamwork requires employees to be satisfied with the job they do. Reward and recognitionboost employee job satisfaction, an essential aspect of any team (Dalkrani, M., & Dimitriadis,E., 2018). Teamwork also requires loyalty from the members. Rewarding the members helpsto secure loyalty to the group, which avoids leakage of any team idea. Rewards help generatea unique culture within the organization, which can also be associated with the team.Rewarding every good performance will make every team within the organization develop aculture that aims to attain prosperity.4ConclusionIn conclusion, teamwork and individual work differ in various aspects. Thecollaboration teamwork generates, the time management, skill development, motivation, ideacreation, and good decision making are some aspects that differentiate individual work andteamwork. Rewarding improves teamwork as it improves team culture, the attraction ofemployees, improves communication, retains the employees, and boosts morale andproductivity.5ReferencesFlores-Szwagrzak, K., & Treibich, R. (2020). Teamwork and individual productivity.Management Science, 66(6), 2523-2544.Apoorva, M. (2019). Impact of teamwork on organization performance. International Journalof Research in Engineering, Science and Management, 2(2), 9-11.Akafo, V., & Boateng, P. A. (2015). Impact of reward and recognition on job satisfaction andmotivation. European Journal of Business and Management, 7(24), 112-124.Dalkrani, M., & Dimitriadis, E. (2018). The Effect of Job Satisfaction on EmployeeCommitment. International Journal of Business & Economic Sciences Applied Research,11(3).View attached explanation and answer. Let me know if you have any questions.POWERPOINTBusiness Management and Strategy: BerkshireHathaway• “Plans are nothing; planning is everything.”• – Dwight D. Eisenhower• “If you don’t know where you’re going, you might end up somewhere else.”• – Casey Stengel• Prepared By:• Student Name• Institution Affiliation• Professor’s Name• DateIntroduction: Presentation of the Problem• Business dynamism:• Rise in technological advancements and changing in customer satisfactionrates and preferences.• Methods and emerging technologies• Integrate technology tools fully• Dominant positioning in the market.• Governance at Berkshire is based on corporate performance instead ofindividual performance and decentralized operations with centralizedfinances.• Business values rather than technology stock valuesThe Need for Strategic Plan and BusinessPolicy• Initiative to adopt technology in business management for marketsustainability• Is depicted in the company’s policy as the most substantive strategic plan todominate the market and achieve a competitive advantage.• AI is applicable in business analytics. Predictive analytics• Manage its inventory, foresee sales, develop marketing strategies, and aidbusiness survival in the highly competitive market.• Investors and financial experts create investment portfolios and lessenpotential risks (Halton, 2022).• Governance to improve the company’s management.Vertical and Horizontal Company structure• The company structure is flat• Between corporate managersfrom subsidiary firms toofficials and executives atBerkshire headquarters• Not integrated but decentralizedBerkshire Hathaway Organizational StructureBackground/Analysis of the Problem•••••••• Document need for strategic change: Current State of Technology Stocks atBerkshire HathawayThe value-based investing model is a blessing and a curse.Value rotation into a huge losing bet against technological issues (Kumar, 2017).Traditional value investing may have broken down due to the dominance of high-techstocks and the impact of quantitative easing (QE).He never invested in stocks he did not understand (Mcfarland, 2016).Any value investor agrees that price is an essential component of value.Agility and adaptability, showing that changing the world and adjusting hisphilosophy will allow Berkshire to benefit from a technology-driven economy.Technology stock portfolio.The Investment in Digital CommunicationPlatforms as Emerging Business Technology andIT GovernanceVideo conferencingIT governance• The need for strategic change regarding the consideration of Berkshire Hathaway Company calls for the adoption of anaffirmative approach to considering online communication tools for effective management and the identification of customers’needs on the online platform.• The consideration of video conferencing as an emerging business technology enables effective communication between andamong the Company’s employees, investors, top management, and other clients, irrespective of their location and even whenchoosing the managers for subsidiary companies based on their performance concerning the parent company (Li, 2021).Set boundaries• Top organization management must be able to design InformationTechnology governance processes carefully that guide the managementon the best approaches to making the application of video conferencingmore useful and highly profitable by investing in technology stocks.• Top managers within all organizations should implement decisions dailyinvolving that design at every stage of the process (Utterback &Abernathy, 2017).• Therefore, technology is associated with broader corporate principles ofgovernance, which are primarily focused on management and the use ofInformation Technology to meet corporate performance goals.Description of the history of the problemGovernance Structure: Berkshire Hathaway• Matrix organizational structure vs. divisionalorganizational structure• Berkshire magic stems from the decentralized, hands-offrelationship between Buffett and its other stakeholders,• A divisional structure• better customer needs specific to different regionsPlacing Technology in the Management ofBusiness in Context• The Swiftness With Which Workers Can Work, Thanks To AutomatedProcedures (Gentle, 2019).• Also, They Need Not Travel To Physical Premises For TheTransaction (Gentle, 2019).• Time saving:Examination of Potential Causes: TechnologyAdoption in Business and Governance• One of these measures or factors that have contributed to technologyadoption in business is the global innovation index, which calls for theconsideration of artificial intelligence.• Technology makes business investments quick and easy to handle.• Governance for the longest time, the governance at berkshire has beendecentralized with centralized finances• The current matrix organizational structure and organizational inflexibilityseem outdated.• Thus, there is a need to focus on the divisional organizational structure,permitting organizational flexibility in decision-making and management.Identification of Relevant Stakeholders: TechnologyAdoption and Governance at Berkshire Inc.• The critical stakeholders contextualized in the business management at Berkshirethrough technology adoption entail the top managers, the designers that includeboth the builders and suppliers, and the end-users that comprise technologyoperators in the business, clients, workers, and government groups.• Stakeholder theory suggests that financial investors of the organization are the onesto be served by the company.• Views of the government and the end-users of technology adoption need to beconsidered in the planning process.• Governance frameworks must also be taken seriously. At Berkshire, governance isseen as a preserve of the board. But the truth is that organizational culture is asimportant as information and control systems.• Subsidiary organizations ought to work towards governance that calls forsafeguarding their stocks and delivering values effectively.Placing Technology Adoption and Governance inContext: Identification of Barriers to Change• Failure to understand the value of technology adoption and the inability toknow how to apply technology in the company’s direction.• An unengaged workforce in almost all decision-making, strategic planningand targets, and lack of awarenessStrategic Plan• This strategic plan proposes a unique insight for planning and exploringpotential future governance to replace the current leadership of warrenbuffet and provide a framework for the development of practical technologystocks and tools as Berkshire Hathaway shareholders look to its future.• This step requires everyone at all levels of the organizational structurewhich will contribute to the program to add to the organization’s success orpoplar referred to as the ‘target population.• Define decision authority: decision authority refers to the decisionsproposed to the user to adopt or reject. In this case, Berkshire’s topmanagement, warren buffet, CEO, and Charles Munger, the vice-chairman,are the right people to make decisions and the correct answer for thestrategic plan’s success.Provide the provisions of the strategic plan• Vision Statement• Mission statement• Strategic Objectives• Business Policy Strategy• Currently, the business policy at Berkshire is decentralized• Strategic policy will focus on diversified governance sharing theeconomy.Corporate Strategy• The overall direction of the Company and management of its business• Business Strategy• Competitive Strategies• Cooperative Strategies• Functional Strategy• Maximize Resource Productivity• Policy – what links the strategy to the implementation?• Strategy ImplementationEvaluation & Control• Performance and feedback• The success of the feedback will then be evaluated against thestandard performance of the Company to measure the results of firmactivities and compare the results to the standard. Therefore,performance will depend on what the managers will do with thefeedback they receive.Action PlanFocus area:Goal:Technology And Governance StructureDevelopment of Practical Technology Stocks, Tools, AndStrategic ActionPlan: BerkshireHathaway••StrategiesTo inspirethe nextgenerationand buildinspirationanddeterminationby embracinga diversifiedgovernancestructure.•To strengtheninvestmentby embracingtechnologystocks andtools•••Resources &SupportActivitiesFor instance,to embracecurrentgovernancewithoutnecessarilytraveling toholdboardroomissues.Hierarchicalgovernancestructure asopposed tothe currentflatorganizationalstructure.•Shifting fromvalue-basedinvestment tobuilding anintegratedvaluationstocksportfolioacross all thesubsidiaries.Trainingemployeesand preparingnew investorsto gain•••This can bedone viavideoconferencingamong thedirectorsfrom allBerkshireholdings.Theexecutivecommitteewill sit withstakeholdersand discussthe strategicplan on howsmoothly totransit thecompanyoperations inthe futurewithminimalchallenges.plan andpromote anonlinepedometerchallenge toallemployeesandinvestors onvideoconferencingtools.Engage ITexperts togive moreExploring Potential Future Governance.•••ResponsibleemployeeMeasure ofsuccessTimelineMechanisms forsubsidiarymanagers andemployeecommunication.The budget forthe executivecommittee sitsin allowances.SubsidiaryLocalmanagersand ITheads ofdepartmentMay2022October2023•Input fromalldepartmentsdealingwithgovernanceissues.Budget toinstalltechnologystocks softwareand forembracingtechnologytoolsBerkshireHathawayCEO,WarrenBuffet.May2022October2023•Return ondigitalinvestmentsTheproportionof yearlytechnologybudgetspent ondigitalcreativities.Aligningincentivesof businessleaders to••Result(howdidyougo?)AppendixReferences•Ashari, H., Heidari, M., & Pavaresh, S. (2017). Improving SMEs Business Performance through Strategic use of Information and Communication Technology: ICT and TourismChallenges and Opportunities. International Journal of Academic Research in Accounting, Finance and Management Sciences, 4(3), 1-20.•Berkshire Hathaway Inc. (2022). BERKSHIRE HATHAWAY INC. https://www.berkshirehathaway.com/•Bers, J., Dismukes, J., Mehserle, D. and Rowe, C. (2016). Extending the Stage-Gate Model to Radical Innovation – the Accelerated Radical Innovation Model. J Knowl Econ, 5(4),pp.706-734.•Bowen, R. M., Rajgopal, S., & Venkatachalam, M. (2018). Is Warren Buffett’s commentary on accounting, governance, and investing practices reflected in the investmentdecisions and subsequent influence of Berkshire Hathaway? The Accounting Review, 89(5), 1609-1644. https://doi.org/10.2308/accr-50797•Erevelles, S., Fukawa, N. and Swayne, L., (2016). Big Data consumer analytics and the transformation of marketing. Journal of Business Research, 69(2), pp.897-904.•GuruFocus.com. (2020, June 19). Is governance at Berkshire Hathaway bad? Yahoo Finance – Stock Market Live, Quotes, Business & FinanceNews. https://finance.yahoo.com/news/governance-berkshire-hathaway-actually-bad-150232087.•Halton, C. (2022). Predictive Analytics. Investopedia. Retrieved from https://www.investopedia.com/terms/p/predictive-analytics.asp•Halpin. K, (2015). Organizational Complexity – Berkshire Hathaway. March 8. – MBA 617•Organizational Theory. https://klhalpin2mba617.wordpress.com/2015/03/08/organizational-complexityberkshire-hathaway•Kolakowski, M. (2019, July 1). Why the value investing model championed by Buffett is broken. Investopedia. https://www.investopedia.com/why-value-investing-modelchampioned-by-buffett-is-broken-4691764•Kumar, R. (2017). Strategies of wealth creation by Berkshire Hathaway. Strategic Financial Management Casebook, 263-292. https://doi.org/10.1016/b978-0-12-805475-8.000094•Li, Y. (2021). Charlie Munger says he loves Zoom and thinks the videoconferencing trend is here to stay. CNBC. Retrieved from https://www.cnbc.com/2021/06/29/charliemunger-says-hes-in-love-with-zoom-thinks-the-videoconferencing-trend-is-here-to-stay.html•References cont..• Luftman, J. (2016). Assessing business-IT alignment maturity. Strategies for information technology governance, 4, 99.• Makridakis, S., (2017). The forthcoming Artificial Intelligence (AI) revolution: Its impact on society and firms. Futures, 90, pp.46-60.• Pound, J. (2022). Warren Buffett’s Berkshire Hathaway reveals a significant stake in HP, tech stock soars.CNBC. https://www.cnbc.com/2022/04/07/warren-buffett-berkshire-hathaway-reveals-stake-in-hp-inc-tech-stock.html• Reich, B. H., & Benbasat, I. (2016). Factors that influence the social dimension of alignment between business and information technologyobjectives. MIS Quarterly, 81-113.• Sabherwal, R., & Chan, Y. E. (2019). Alignment between business and IS strategies: A study of prospectors, analyzers, and defenders.Information systems research, 12(1), 11-33.• Seessel, A. (2018, December 26). Warren Buffett used to avoid tech stocks. Now he loves them. Here’s why. Money. https://money.com/valueinvesting-embraces-tech/• Utterback, J.M. and Abernathy, W.J., (2017). A dynamic model of process and product innovation. Omega, 3(6), pp.639-656.• Volberda, H.W., Van Den Bosch, F.A. and Heij, C.V., (2016). Management innovation: Management as fertile ground for innovation.European Management Review, 10(1), pp.1-15.• Wu, K. (2021, August 26). Value investing is short tech disruption. Sparkline Capital. https://www.sparklinecapital.com/post/value-investingis-short-tech-disruption• Xiang, Z., Wang, D., O’Leary, J. T., & Fesenmaier, D. R. (2017). Adapting to the internet: trends in travelers’ use of the web for tripplanning—Journal of Travel Research, 0047287514522883.•View attached explanation and answer. Let me know if you have any questions.Please view explanation and answer below.View attached explanation and answer. Let me know if you have any questions.Business Management and Strategy: BerkshireHathaway• “Plans are nothing; planning is everything.”• – Dwight D. Eisenhower• “If you don’t know where you’re going, you might end up somewhere else.”• – Casey Stengel• Prepared By:• Student Name• Institution Affiliation• Professor’s Name• DateTable of Contents• Slide 1……………………………………………………Student Particulars• Slide 2……………………………………………………T & C• Slide 3………………………………………………… Introduction• Slide 4…………………………………………………Need for strategic change• Slide 5…………………………………………………..Company Structure• Slide 6 ……………………………………………………Background/Presentation of the Problem• Slide 7 ……………………………………………………Investment in Digital and communication Platforms• Slide 8 ……………………………………………………Description of History of the Problem• Slide 9 ……………………………………………………Examination of potential causes: IT• Slide 10…………………………………………………… Identification of Relevant Stakeholders• Slide 11……………………………………………………Placing Technology Adoption at context• Slide 12……………………………………………………Strategic Plan• Slide 13……………………………………………………Provide the provisions of the strategic plan• Slide 14…………………………………………………… Corporate Strategy• Slide 15……………………………………………………Evaluation and Control• Slide 16……………………………………………………Action PlanIntroduction: Presentation of the Problem• Business dynamism:• Rise in technological advancements and changing in customer satisfactionrates and preferences.• Methods and emerging technologies• Integrate technology tools fully• Dominant positioning in the market.• Governance at Berkshire is based on corporate performance instead ofindividual performance and decentralized operations with centralizedfinances.• Business values rather than technology stock valuesThe Need for Strategic Plan and BusinessPolicy• Initiative to adopt technology in business management for marketsustainability• Is depicted in the company’s policy as the most substantive strategic plan todominate the market and achieve a competitive advantage.• AI is applicable in business analytics. Predictive analytics• Manage its inventory, foresee sales, develop marketing strategies, and aidbusiness survival in the highly competitive market.• Investors and financial experts create investment portfolios and lessenpotential risks (Halton, 2022).• Governance to improve the company’s management.Vertical and Horizontal Company structure• The company structure is flat• Between corporate managersfrom subsidiary firms toofficials and executives atBerkshire headquarters• Not integrated but decentralizedBerkshire Hathaway Organizational StructureBackground/Analysis of the Problem•••••••• Document need for strategic change: Current State of Technology Stocks atBerkshire HathawayThe value-based investing model is a blessing and a curse.Value rotation into a huge losing bet against technological issues (Kumar, 2017).Traditional value investing may have broken down due to the dominance of high-techstocks and the impact of quantitative easing (QE).He never invested in stocks he did not understand (Mcfarland, 2016).Any value investor agrees that price is an essential component of value.Agility and adaptability, showing that changing the world and adjusting hisphilosophy will allow Berkshire to benefit from a technology-driven economy.Technology stock portfolio.The Investment in Digital CommunicationPlatforms as Emerging Business Technology andIT GovernanceVideo conferencingIT governance• The need for strategic change regarding the consideration of Berkshire Hathaway Company calls for the adoption of anaffirmative approach to considering online communication tools for effective management and the identification of customers’needs on the online platform.• The consideration of video conferencing as an emerging business technology enables effective communication between andamong the Company’s employees, investors, top management, and other clients, irrespective of their location and even whenchoosing the managers for subsidiary companies based on their performance concerning the parent company (Li, 2021).Description of the history of the problemGovernance Structure: Berkshire Hathaway• Matrix organizational structure vs. divisionalorganizational structure• Berkshire magic stems from the decentralized, hands-offrelationship between Buffett and its other stakeholders,• A divisional structure• better customer needs specific to different regionsExamination of Potential Causes: TechnologyAdoption in Business and Governance• One of these measures or factors that have contributed to technologyadoption in business is the global innovation index, which calls for theconsideration of artificial intelligence.• Technology makes business investments quick and easy to handle.• Governance for the longest time, the governance at Berkshire has beendecentralized with centralized finances• The current matrix organizational structure and organizational inflexibilityseem outdated.• Thus, there is a need to focus on the divisional organizational structure,permitting organizational flexibility in decision-making and management.Identification of Relevant Stakeholders: TechnologyAdoption and Governance at Berkshire Inc.• The critical stakeholders contextualized in the business management at Berkshirethrough technology adoption entail the top managers, the designers that includeboth the builders and suppliers, and the end-users that comprise technologyoperators in the business, clients, workers, and government groups.• Stakeholder theory suggests that financial investors of the organization are the onesto be served by the company.• Views of the government and the end-users of technology adoption need to beconsidered in the planning process.• Governance frameworks must also be taken seriously. At Berkshire, governance isseen as a preserve of the board. But the truth is that organizational culture is asimportant as information and control systems.• Subsidiary organizations ought to work towards governance that calls forsafeguarding their stocks and delivering values effectively.Placing Technology Adoption and Governance inContext: Identification of Barriers to Change• Failure to understand the value of technology adoption and the inability toknow how to apply technology in the company’s direction.• An unengaged workforce in almost all decision-making, strategic planningand targets, and lack of awarenessStrategic Plan• This strategic plan proposes a unique insight for planning and exploringpotential future governance to replace the current leadership of warrenbuffet and provide a framework for the development of practical technologystocks and tools as Berkshire Hathaway shareholders look to its future.• This step requires everyone at all levels of the organizational structurewhich will contribute to the program to add to the organization’s success orpoplar referred to as the ‘target population.• Define decision authority: decision authority refers to the decisionsproposed to the user to adopt or reject. In this case, Berkshire’s topmanagement, warren buffet, CEO, and Charles Munger, the vice-chairman,are the right people to make decisions and the correct answer for thestrategic plan’s success.Provide the provisions of the strategic plan• Vision Statement• Mission statement• Strategic Objectives• Business Policy Strategy• Currently, the business policy at Berkshire is decentralized• Strategic policy will focus on diversified governance sharing theeconomy.Corporate Strategy• The overall direction of the Company and management of its business• Business Strategy• Competitive Strategies• Cooperative Strategies• Functional Strategy• Maximize Resource Productivity• Policy – what links the strategy to the implementation?• Strategy ImplementationEvaluation & Control• Performance and feedback• The success of the feedback wil…

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