- A financial Astrologer
- An experienced financial analyst
- A 4-year-old girl
- The Astrologer made his choice by examining the formation date of the companies.
- The financial analyst relied on his seven years of experience.
- The 4-year-old girl, randomly grabbed four company names from a pile of papers.
- In the first week, the Astrologer lost around 10% of the money.
- The Expert lost around 7%.
- Our 4-year-old lost only 4.6%.
Well, there are many explanations.
The one I want to focus on is about grouping people together. In other words, making use of the wisdom of a team.
Teams can provide more cognitive resources and social emotional support than individuals can.
And we do find teams becoming more and more popular in the modern workplace.
So, what makes teams effective?
- Coordination means, we put collective interest first, rather than personal benefits. It means, we develop a task structure. A schedule and a workflow to achieve our collective objectives by realizing that we are interdependent on each other.
- We also negotiate and constantly communicate with each other to figure out what we need to pay attention to.
- Finally, we try to learn from others and copy their success.
SO, NOW WHAT?
Well… just pick one…