“ In order to work well, markets need a basic level of trust. ”
Lack of confidence, sometimes alternating with unrealistic dreams of heroic success, often leads to procrastination, and many studies suggest that procrastinators are self-handicappers: rather than risk failure, they prefer to create conditions that make success impossible, a reflex that of course creates a vicious cycle.
~ James Surowiecki
No decision-making system is going to guarantee corporate success. The strategic decisions that corporations have to make are of mind-numbing complexity. But we know that the more power you give a single individual in the face of complexity and uncertainty, the more likely it is that bad decisions will get made.
Diversity and independence are important because the best collective decisions are the product of disagreement and contest, not consensus or compromise.
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.
