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Examples: A CEO ignores market research that suggests a new product will not be well-received because he or she firmly believes it’s a good idea. A business leader expands into new markets without sufficient research, thinking that past success will automatically translate to new ventures.
Examples: A CEO ignores market research that suggests a new product will not be well-received because he or she firmly believes it’s a good idea. A business leader expands into new markets without sufficient research, thinking that past success will automatically translate to new ventures.
Companies with a diversity of thought and opinion avoid groupthink. Yet neither held him back: he has gone on to have a high-flying career in international finance. I am a proud man of colour who happens to be gay,” he says. “I I am open about my identity so I create a space where others feel safe to do the same. Enjoyed this article?
Hence, your incentives are largely just the same as everybody else at Davos: to perpetuate stale concepts like "profit," "product," and "output," the tired, toxic practices of "strategy," "finance," and "marketing." Hence, the atmosphere of groupthink. Your Mom tends to tell you what you want to hear.
While both had top people, one was dramatically more successful in the market. Teams low in diversity often succumb to groupthink; they agree with each other too quickly and fail to consider novel courses of action. How did the stars at that firm manage to shine brightly together, while those at the other merely twinkled on their own?
Additionally, you’re more prone to groupthink if you’re not exposed to diverse perspectives and points of view. 85% of your closest contacts are fellow marketers), it’s time to think consciously about how to diversify. If your network is weighted more than 70% in any direction (e.g.,
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