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  • Blue and Cream Triangle Overlay General Memo

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    The memo discusses the dangers of groupthink and a fixed mindset in businesses. It provides the example of Polaroid, which was very successful in the 1970s but failed to adapt to digital photography. Polaroid's leadership was too focused on their original photo business and viewed changes as a threat. This lack of diversity and flexibility prevented them from recognizing or leading the shift to digital cameras. The memo warns that having an inflexible, groupthink culture does not allow companies to grow and change with evolving markets in order to remain profitable.

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    The memo discusses the dangers of groupthink and a fixed mindset in businesses. It provides the example of Polaroid, which was very successful in the 1970s but failed to adapt to digital photography. Polaroid's leadership was too focused on their original photo business and viewed changes as a threat. This lack of diversity and flexibility prevented them from recognizing or leading the shift to digital cameras. The memo warns that having an inflexible, groupthink culture does not allow companies to grow and change with evolving markets in order to remain profitable.

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    © All Rights Reserved
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    42 views1 page

    Blue and Cream Triangle Overlay General Memo

    Uploaded by

    api-533902083
    The memo discusses the dangers of groupthink and a fixed mindset in businesses. It provides the example of Polaroid, which was very successful in the 1970s but failed to adapt to digital photography. Polaroid's leadership was too focused on their original photo business and viewed changes as a threat. This lack of diversity and flexibility prevented them from recognizing or leading the shift to digital cameras. The memo warns that having an inflexible, groupthink culture does not allow companies to grow and change with evolving markets in order to remain profitable.

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    © All Rights Reserved
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    MEMO

    To: Bryce
    From: Christopher, Lauren, Lillie, &
    Kinsey
    Date: 05 Nov 2021
    About: Rethinking Groupthink

    Dear Bryce,

    In the business world, many times companies are fixated on the idea that they always need to be
    prepared. This mindset can lead companies to have difficulty in seeing/understanding the need
    for change, especially when they are dedicated to their original mission. They may view that
    changes are an attack on their original ideas.

    The multimillion dollar company, "Polaroid" was on the rise for several years. Their revenues
    jumped from under $7 million in 1950 to nearly $1 billion in 1976. However, due to their fixated
    mindset on printed pictures, they were unable to see the cultural shift for going digital. Their
    original mission subjected them to a lack of diversity and inhibited them from recognizing the
    need for change. The CEO of Polaroid, Mac Booth claimed, "We know more about that (photo
    photography) than anyone in the world". This demonstrates Booth's projected preparedness
    towards their original idea. However, this projected preparedness led to the company's failure as
    they were not able to lead in the shift from photo photography to digital.

    It is important for businesses to remember that having a fixated culture does not give
    companies the flexibility to grow, change, and remain profitable in a evolving business landscape.

    ORIGINALS
    Adam Grant / Chapter 7

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