Groupthink as a concept has not been around all that long (1952) but as a human practice or tendency, think about it being around at least forever. We seem to be wired that way. Is this good or bad? Or maybe both? The answer appears to be both but it is highly context-dependent.
So much seems to be written today about how bad things are and how they are going to get much worse. Surely we’re all (businesses) gonna die. Here is a contrary view. There are actually huge opportunities out there in doom-and-gloom-ville. Seeing these and taking advantage of them, however, requires a very special kind of business and leadership.
Everyone in business today knows how important it is to have an innovation culture. Well, almost everyone. And almost everyone in business today has made great efforts to build and nurture an innovation culture. So why is it that so few businesses are effective innovators? Most appear to be followers. Or am I missing something?
High fixed cost businesses – airlines, restaurants, medical services, hotels – can be great money-makers when times are good but almost instant disasters when a major downturn or economic instability strikes. Such businesses require a stable, predictable business environment for survival. How can you manage one of these through the storm and insulate against a future repeat?
