Organizations need to draw on the talents and resources of all their employees. But employees don’t work in a vacuum. They influence (and are influenced by) each other.
Sometimes these influences can be productive. But often they can be destructive (consider groupthink, when individuals conform to the opinions of others regardless of their private information).
How can firms retain the positive influences and minimize the negative? Recent work by Scott Page at University of Michigan demonstrates that diversity is one such tool. Diverse groups, groups whose members are of different demographic backgrounds, personality styles, varying generational cultures, “ways of knowing,” and/or undergraduate majors, make better decisions than groups that are homogenous. Continue reading ‘The Future of Business is Diverse.’