It was exciting to learn that a group of Fisher MBA students would travel to Omaha, NE for a Q&A session with Warren Buffett… just another opportunity Fisher provides. We were each asked to draft a question to ask Mr. Buffett if given the opportunity. Throughout the 2.5 hours visit, Mr. Buffett graciously answered questions from each of the participant schools. Topics of discussion were wide-ranging and very candid. My question was chosen to be Fisher’s first, specifically:
As an Orthopedic Surgeon in training, I’m very concerned about the sustainability of health care in America. The need to provide better medicine at less cost is more evident than ever. Of the many business principles you have mastered, which one is the most vital to the future of healthcare in America?
As a physician I was interested in asking Mr. Buffett about healthcare in America.
As with all of his answers, Mr. Buffett’s optimism was contagious. He was certain that we would solve the healthcare challenges given our country’s history of overcoming challenges. He mentioned that we have been focused on solving problems at any cost, but that our generation’s great minds would innovate world-class care that could be provided at a sustainable cost.
Mr. Buffett emphasized the ingenuity that has been employed in the U.S. over an impressive track record of productivity and problem solving. He was particularly encouraged by trends in the increasing involvement of women in leadership, seeing this as a largely untapped potential for even more productivity moving forward. He also elaborated on the important difference between equal opportunity (which he is a big fan of) and equal outcomes, pointing out that those who do a better job should be rewarded accordingly. He also pointed out that a society should be structured so that no single segment is “left behind” and that opportunity is distributed as widely as possible.
Mr. Buffett provided much food for thought. With his impressive philanthropic spirit he encouraged each of us to prosper our own communities and to be a force for good. I came away from the Q&A session bullish on America and personally enlightened. Thank you Fisher!
Special Thanks to trip sponsor:
Sander A. Flaum
Founder and Managing Partner, Flaum Idea Group (FIG)
Sander Flaum has been a long-time champion of the big idea, both in business and in his role as Adjunct Professor of Management at the Fordham Graduate School of Business, where he founded and chairs the Fordham University Leadership Forum. He was also the school’s commencement speaker in 2011. Prior to launching FIG, Sander was Chairman of Euro RSCG Life, a worldwide network of 43 healthcare agencies. In addition, Sander presided over the growth of Robert A. Becker Inc. as it became the number two healthcare agency in the US. Med Ad News named Becker “Agency of the Year” and Sander “Man of the Year” in 2002. Perhaps most importantly, Sander worked for 18 years at Lederle Laboratories where he became Marketing Director and honed his vision of the company he dreamed of finding as a client — the result of which is the Flaum Idea Group. Sander has his BA from The Ohio State University and his MBA (cum laude) from Fairleigh Dickinson University.