What Leaders Should Do When Times Are Tough

What leaders frequently forget in their zeal to be prudent and careful is that “the wisdom of crowds” applies within their own organization. Instead of narrowing the circle they rely on, they should be widening it. James Surowiecki in his book, The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations, explains that a diverse collection of independently-deciding individuals is likely to make certain types of decisions and predictions better than individuals or even experts!

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