MGMT310 WK 5

According to James Surowiecki in the book “The Wisdom of Crowds:” When “Groups” are involved in making a decision they normally have better than “house odds,” which is 70% of getting it right without having 100% of the facts. When groups make decisions they normally, and consistently hit at about 85 to 90% of the time getting the right answer. However, without the facts being available to any human it lowers the odds to a little over the 50-50 point.

 

When considering working in groups, remember there is strength in harmony and like-mindedness:  however, diversity facilitates “thinking outside the box.”  “Groupthink” is an example of what occurs when conformity is attributed too much emphasis.  The following website provides more information:

 

http://www.afirstlook.com/archive/groupthink.cfm?source=archther

What techniques have worked for you in forming groups to solve problems?Why do you think the technique worked? 

Instructions:  Your initial post should be at least 250 words.