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Sari Stenfors

OpenIDEO - Home - 0 views

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    IDEO's crowdsourcing platform where production, use and design meet.
Stephan Dohrn

The social side of strategy - McKinsey Quarterly - Strategy - Strategy in Practice - 0 views

  • how to inject more diversity and expertise into your strategy process, to get leaders closer to the operational implications of their decisions, or to avoid the experience-based biases and orthodoxies that inevitably creep into small groups at the top
  • from “all-knowing decision makers,” who are expected to know everything and tell others what to do, to “social architects,” who spend a lot of time thinking about how to create the processes and incentives that unearth the best thinking and unleash the full potential of all who work at a company.7
Stephan Dohrn

How social influence can undermine the wisdom of crowd effect - 0 views

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    Summary: "Although groups are initially "wise," knowledge about estimates of others narrows the diversity of opinions to such an extent that it undermines the wisdom of crowd effect in three different ways. The "social influence effect" diminishes the diversity of the crowd without improvements of its collective error. The "range reduction effect" moves the position of the truth to peripheral regions of the range of estimates so that the crowd becomes less reliable in providing expertise for external observers. The "confidence effect" boosts individuals' confidence after convergence of their estimates despite lack of improved accuracy. Examples of the revealed mechanism range from misled elites to the recent global financial crisis."
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