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If small groups are included in the decision-making process, then they should be allowed to make decisions. If an organization sets up teams and then uses them for purely advisory purposes, it loses the true advantage that a team has: namely, collective wisdom.

James Surowiecki

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James Surowiecki
Age: 57
Born: 1967
Born: April 30
Journalist
Writer
Meriden
Connecticut
James Michael Surowiecki
Process
Groups
Purposes
Use
Loses
Collective
True
Team
Uses
Advisory
Make
Decision
Sets
Namely
Wisdom
Allowed
Included
Small
Decisions
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Organization
Purely
Making
Advantage
Collectives

More quotes by James Surowiecki

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Now, modern economies have a very effective mechanism for deciding if salaries are really too high: it's called the free market. That's how most people's salaries are set, after all, including those of major-league baseball players and European soccer players.
James Surowiecki
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The business of America shouldn't be subsidizing business.
James Surowiecki
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Of course, looking tough on inflation is part of any central banker's job description: if investors believe that inflation is going to get out of control, you end up with higher interest rates and capital flight, and a vicious circle quickly ensues.
James Surowiecki
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In the days when corporate downsizing was all the rage, Wall Street took a lot of flak for judging companies too harshly and setting the bar for corporate performance so high that executives felt their only option was to slash payrolls.
James Surowiecki
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All things being equal, letting people make decisions for themselves will produce smarter outcomes, collectively, than relying on government planners.
James Surowiecki
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Of course, presidents are always blamed or rewarded for the state of the economy.
James Surowiecki
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Companies, like people, don't much like to change.
James Surowiecki
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Sometimes even a smart crowd will make a mistake.
James Surowiecki
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In the struggle between capital and labor, more often than not capital has won, because the real source of value for most companies has historically been the hard assets that they owned and controlled.
James Surowiecki
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Lower oil prices won't, by themselves, topple the mullahs in Iran. But it's significant that, historically, when oil prices have been low, Iranian reformers have been ascendant and radicals relatively subdued, and vice versa when prices have been high.
James Surowiecki
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If you thought the advent of the Internet, the spread of cheap and efficient information technology, and the growing fragmentation of the consumer market were all going to help smaller companies thrive at the expense of the slow-moving giants of the Fortune 500, apparently you were wrong.
James Surowiecki
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The paradox of Steve Jobs's career is that he had no interest in listening to consumers - he was famously dismissive of market research - yet nonetheless had an amazing sense of what consumers actually wanted.
James Surowiecki
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On the simplest level, telecommuting makes it harder for people to have the kinds of informal interactions that are crucial to the way knowledge moves through an organization. The role that hallway chat plays in driving new ideas has become a cliche of business writing, but that doesn't make it less true.
James Surowiecki
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Technological innovation has dramatically lowered the cost of computing, making it possible for large numbers of consumers to own powerful new technologies at reasonably low prices.
James Surowiecki
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Diversity and independence are important because the best collective decisions are the product of disagreement and contest, not consensus or compromise.
James Surowiecki
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Academics, who work for long periods in a self-directed fashion, may be especially prone to putting things off: surveys suggest that the vast majority of college students procrastinate, and articles in the literature of procrastination often allude to the author's own problems with finishing the piece.
James Surowiecki
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When Americans are asked to rank professions in terms of honesty and ethics, insurance agents routinely end up near the bottom of the list - somewhere between politicians and car salesmen. Generally, insurers are seen as clever hucksters who prey on insecurity and ignorance to sell people what they don't need at prices they shouldn't have to pay.
James Surowiecki
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Medical tourism can be considered a kind of import: instead of the product coming to the consumer, as it does with cars or sneakers, the consumer is going to the product.
James Surowiecki
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But, if recent history has taught us anything, it’s that self-regulation doesn’t work in finance, and that worries about reputation are a weak deterrent to corporate malfeasance.
James Surowiecki
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The important thing about groupthink is that it works not so much by censoring dissent as by making dissent seem somehow improbable.
James Surowiecki