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Boardroom debate: Following the herd can lead you astray

By Ade McCormack

Published: June 17 2008 14:43 | Last updated: June 17 2008 14:43

I do not want to be the bearer of bad news, but I think there is sufficient economic uncertainty for it to be prudent to revisit our strategic objectives.

There is a tendency for business leaders to mimic their peers: following the herd is a safety mechanism. Should the herd start running, one instinctively follows, regardless of the threat. More often than not this makes sense, unless the threat has changed but the herd responses have not.

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