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Get the Crowd to Weigh In on Strategic Decisions

2016-07-05 05:13:20

In most organizations authority for the most important strategic decisions is

left to the highest-paid person s opinion (HiPPO). But relying on the judgement

of one person or a few individuals is bound to lead to trouble. HiPPOs often

are wrong, due to inherent biases, misinformation, and other types of noise

that can cloud one person s opinion. To cancel out much of that noise,

companies should integrate crowd voting into their decision-making strategies.

Crowd voting integrates the expertise, knowledge, and perspectives of many

people. These opinions can help shape a more well-rounded frame of reference,

and can vastly improve the chances that a strategic decision will lead to

success. Crowd voting doesn t render HiPPOs obsolete; rather, it encourages

HiPPOs to work with the crowd in order to develop more-successful strategies.

Adapted from The Antidote to HiPPOs: Crowd Voting, by Karim R. Lakhani

HBR