Sunday, March 18, 2018

The Monthly Insight: Understand Business Effects & Paradox to Improve Digital Maturity Mar. 2018

Business Management is both art and science. There are many interesting effects in the respective field of the research and study. From a business management perspective, which “effects” or paradox should you understand in order to achieve management effectiveness and efficiency?

Anti-Digital Mindset: Group Thinking and Abilene Paradox? Group Thinking or peer pressure is a term first used in 1972 by social psychologist Irving Janis that refers to a psychological phenomenon in which people strive for consensus within a group. In many cases, people will set aside their own personal beliefs or adopt the opinion of the rest of the group. In an Abilene paradox, a group of people collectively decide on a course of action that is counter to the preferences of many or all of the individuals in the group. You can see it at work when nobody wants to admit that the project is doomed, so they keep working on it, even though each person on the team knows it is futile. Why is it human nature to go along with what we believe the rest of the group wants to do without taking the time to actually check out if we are all taking a trip to Abilene?

The Pygmalion Effect? The idea behind the Pygmalion effect is that increasing the leader's expectation of the follower's performance will result in better follower performance. The Golem effect is the opposite, so low expectations beget low performance. As a person/leader, how do you think your expectations of people affect their performance? How to leverage the Pygmalion effect in growing more Digital Master in your organization?

Domino Effect vs. Butterfly Effect The domino effect is a chain reaction that occurs when a small change causes a similar change nearby, which then causes another similar change, and so on in linear sequence. The term is best known as a mechanical effect and is used as an analogy to a falling row of dominoes. It typically refers to a linked sequence of events where the time between successive events is relatively small. In chaos theory, the butterfly effect is the sensitive dependence on initial conditions in which a small change at one place in a deterministic nonlinear system can result in large differences in a later state. (Wikipedia)

Understanding Three Business Effects and Paradoxes for Improving Management Effectiveness? Either at the individual level or organizational level, people experience, grow, fail and learn, from their own experiences or others' failure lessons. There are many interesting effects in the respective field of the study. From a business management perspective, which “effects” should you understand in order to achieve management effectiveness and efficiency?

Three Effects Cloudy the Vision and Stifle the Speed of Digitalization Change is the new normal with increasing pace, digitalization is a radical change. The successful businesses are the ones that can manage change fluently and drive digitalization in a structural way. Now with the unprecedented business uncertainty, the volatile market situations, intense competitions, advanced technologies, and abundance of information, it is important to clarify the vision, anchor changes as new opportunities, avoid barriers and pitfalls on the way, and steer the business in the right direction. Here are three effects perhaps cloudy the vision and stifle the speed of digitalization.

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