In this episode, we are joined by Scott E. Page, a Professor of Complex Systems, Politcal Sciences, and Economics at the University of Michigan, Ann Arbor. Scott is an external faculty member at the Santa Fe Institute and is an author and speaker who has worked with Google, Bloomberg, Blackrock and NASA. Today, he discusses his book, The Diversity Bonus.
What was covered
- Why diversity within teams must be based on cognitive differences and not solely differences in identity
- How the best problem-solvers and forecasters use several models and equations to assess the best strategy for solving complex economic issues
- Why cognitive diversity is a strategic asset given its impact on high-value problem solving, predictions and strategic planning
Key Takeaways and Learnings
- The Diversity Bonus; the added value that comes from team members thinking about problem solving differently, bringing different tools together and how to realize this bonus
- Avoiding the ‘siren call of sameness’ – why business leaders go wrong in employing people that are similar in identity and experience
- If you have one way to look at the world you would be better off flipping a coin to support your business decision making
Links and Resources Mentioned in this Podcast
- Get in touch with Scoot Page via email, Facebook or LinkedIn
- The Diversity Bonus: How Great Teams Pay Off in the Knowledge Economy (Our Compelling Interests), a book by Scott E. Page
- University of Michigan, Ann Arbor website
- Santa Fe institute website
- Course taught by Scott Page ‘Model Thinking’
- Other mentions: Cinematch, Bell Labs, Kaggle, Molex, InnoCentive, CalTech
- The Big Short, a movie by Adam McKay
- Expert Political Judgement, a book by Philip E. Tetlock
- The Chessboard and the Web, a book by Anne-Marie Slaughter
- The Success Eqaution, a book by Michael J. Mauboussin
- Cognition in the Wild, a book by Edwin Hutchins
- The Pause Principle, a book by Kevin Cashman