MGMT310 Week 5 Forumin Other (Other) by dgp
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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:
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