"In any corporate culture, **it is important how officials respond to transgressions**. In congressional testimony concerning the [[Salomon Brothers]] bond trading scandal, [[Warren Buffett|Buffett]] formalized his admonition to company personnel in words that reverberated through the arena of the 2011 [[Berkshire Hathaway|Berkshire]] shareholders’ meeting: “**Lose money for the firm, and I will be understanding; lose a shred of reputation for the firm, and I will be ruthless**.” ([Location 2850](https://readwise.io/to_kindle?action=open&asin=B00K33E460&location=2850)) --- **Tags** -- [[quotes]], [[organisational-culture]] , [[organisational-values]] , [[reputation]] , [[trust]] , [[compliance]] , [[leadership]] **Source** -- [[202407260951 - B - Berkshire Beyond Buffett]]