Emotional Intelligence and Emotional Management

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Table of Contents

Introduction
Differences between Trait and Ability Emotional Intelligence
Warren Buffett’s Rationality
Conclusion
References

Introduction

Emotional intelligence (EI) plays a significant part in modern leadership theories as many scientists believe it is a crucial element of the decision-making process. As it is known, emotions tend to influence people’s minds at the moment they have to decide, which is why emotional management may be considered a key factor in successful decision-making. People who can control their emotions can objectively analyze the situation and make the best possible choice. However, researchers nowadays suggest two complementary yet still different visions for EI, namely ability emotional intelligence and trait emotional intelligence. Although these two perspectives have some conceptual differences, emotional management, and rationality can play an essential role in decision-making, as demonstrated by the example of Warren Buffett’s career.

Differences between Trait and Ability Emotional Intelligence

The ability stance on EI suggests that it is an ordinary form of intelligence that standard performance tests can logically measure. According to Udayar et al. (2020), ability EI is more related to objective performance than subjective. People with high-ability EI can efficiently adapt to a specific situation using their emotional skills and ultimately outperform to achieve the highest possible results. In other words, a person’s actual ability to manage an emotional situation can directly impact the general performance level (Udayar et al., 2020). Performance indicators, in this case, can be used as a measuring test for ability emotional intelligence, meaning that they can illustrate the actual relation between emotional management and decision-making effectiveness in various situations.

Another viewpoint on EI suggests that it is a unique personality trait. Udayar et al. (2020) state that trait EI pertains “to people’s behavioral dispositions for dealing with emotional situations and assess it with self-report questionnaires” (p. 1). In contrast to ability EI, trait stance suggests that performance can be predicted when assessed from both objective and subjective perspectives. Individuals with high trait EI are usually less impulsive and have a significant level of self-control (Udayar et al., 2020). In many senses, trait EI is highly efficient in stressful situations as it can facilitate productive persistence.

Warren Buffett’s Rationality

Despite the conceptual differences between the two perspectives on emotional intelligence, they both suppose that rationality as part of emotional management is an essential factor that can significantly influence one’s career. It is acknowledged that emotionally intelligent people can “recognize, understand and manage own and others’ emotions” (Edelman & van Knippenberg, 2018, p. 592). The successful career of Warren Buffett, CEO of Berkshire Hathaway, exemplifies the significance of rationality in decision-making. Buffet believes that earning high amounts of effortless money can easily sedate rationality, which is why business people need to stay rational to succeed (as cited in Bloch, 2021). Throughout his career, Buffett has understood and managed his own emotions, which is why he has become such a successful businessman.

Conclusion

Viewpoints on emotional intelligence as a trait and an ability have some conceptual differences, but both perspectives suppose that it is an essential element of business decision-making, as illustrated by the successful career of Warren Buffett. Ability EI is based on objective performance, while trait EI refers to performance assessment from both objective and subjective perspectives. An example of the importance of emotional management is Warren Buffett’s career, which was successful due to his rationality and understanding of his own and others’ emotions. Overall, emotionally intelligent people have a high potential to become efficient decision-makers as they can make reasonable choices in stressful situations.

References

Bloch, R. L. (Ed.) (2021). Warren Buffett book of investing wisdom: 350 quotes from the world’s most successful investor. Skyhorse.

Edelman, P., & van Knippenberg, D. (2018). Emotional intelligence, management of subordinate’s emotions, and leadership effectiveness.Leadership & Organization Development Journal, 39(5), 592-607.

Udayar, S., Fiori, M., & Bausseron, E. (2020). Emotional intelligence and performance in a stressful task: The mediating role of self-efficacy.Personality and Individual Differences, 156.

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Emotional Intelligence and Emotional Management

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