To achieve true transformational change, CEOs must have more than a strategic plan. Picture a management team, composed of highly accomplished individuals with long tenures at the company, gathering at the annual planning meeting. The CEO has been in place for five years; business performance has been strong, and Wall Street has rewarded shareholders handsomely. So what do these biases mean for CEOs who need to effect change in their organizations? First, CEOs need to understand that most transformation agendas are delayed or crippled by risk aversion, operating at the individual level.
How Loss Aversion And Conformity Threaten Organizational Change
