The bedrock of innovation and prosperity lies with the art of discussion. This often-forgotten tool is what inspires peoples voices to be heard, experience to be shared and ideas to be refined. Creating the climate in which discussions and debate can flourish is akin to encouraging the natural selection of ideas. Those which are the leanest and most persuasive of ideas will survive, whereas ideas which fail to hold in the scrutinising process of proper discussion, will ultimately perish. We too often fall into the trap of viewing discussion as an irritating waste of time, making the process of decision making cumbersome. However, it is proper meaningful discussion which selects the most productive ideas, it stimulates the flows of information and fosters active engagement between those party to the discussion. Thus, when utilised, discussions act as motherboard for individuals and companies to gain valuable insights and a platform to share, receive and challenge your own experience. Henry Ford is quoted saying that “Coming together is a beginning, staying together is progress, and working together is success”.
We have all had a moment in our lives where we have jumped into a decision without discussing it with others, or in many cases have not fully discussed it with ourselves and then wondering what went wrong in the decision-making process. This is true for business just as it is for us. Without proper discussion there is not enough diversity of opinion in decision making and without proper debate there is not enough scrutiny to the whole process. In making allowances for discourse within business it will reinforce a company culture and will install a positive feedback loop of engagement in workers. On this note, discussion allows people to feel they are part of the direction a company is moving and will improve job retention (especially important for start-ups). Ultimately, this will make a happier workforce and ensure people feel more fulfilled in their job. Additionally, in industries and business alike there is still an acute diversity and gender gap which needs to be tackled (BAME executives still only make up 7.4% of boardroom seats in the FTSE100). One way to improve this, would be to allow for greater debate and discussion on business decisions to filter up from lower levels of the company, ultimately improving the diversity and depths of perspectives. Therefore, the boundless benefits that broad discussion brings to the workplace cannot be understated and will ultimately derive stronger results.
The role discussion plays in improving industry wide decision making is more important than ever. We are in an unprecedented period of uncertainty and it is now extremely important for companies to reach out and share their experiences. This not only allows executive to make lasting connections and relationships with peers in their industry, but it can alleviate information failure in the market. Naturally we strive for symmetric information flows (non-critical) to improve the knowledge of barriers, obstacles and other issues which could prove detrimental to the prosperity of a business. The power of discussing these issues ultimately helps clear the fog of uncertainty which stifles decision making. Proper moderated discussions can provide a platform for businesses to export their vision and executives share their perspectives. Lastly, this can open new windows of opportunity, prompting companies to critically analyse their given industry and gage the direction market force are moving.
To conclude, greater levels of discourse within and between businesses, can remove the perils of asymmetric information. Knowledge is what gives people value and in sharing knowledge it provides society with its greatest positive externality. The ability to question, criticise and agree with people is the fastest and most effective way to discover a brilliant idea. This is not to say we need discussion to emulate that of Ancient Greek philosophers or the 18th century enlightenment but purely to allow for different perspectives to contribute to greater levels of knowledge sharing and decision making.