Having A Diverse Team Might Help You Bring Home The Winning Title

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“Diversity drives innovation- when we limit who can contribute, we in turn limit what problems we can solve.” This quote by Telle Whitney encapsulates the importance of diversity in problem solving and decision-making. And for an MBA student, or should we say the innovative leader of tomorrow, it is important that you too start practicing diversity. 

Businesses across the globe are striving to increase diversity in their workspace to draw the benefits of having non-homogenous teams. Take a leaf out of their playbook and think about diversity when you build a team of your own, like for the upcoming B-School and corporate competition season. 

However, know that things might not be as simple as they sound on paper. Building a diverse team takes more than just putting people of different backgrounds together. You must take note of the following factors when building an efficient yet diverse team:

• How open are you to differences?
• What do you aim to accomplish with the team you are putting together?
• Make note of the norms and expectations you have of the team?
• What needs and perspectives should every member bring to the table?
• What is the culture you are aiming for?
• How will everything fit together in a meaningful way?
• What possible structure is ideal so that you can put team diversity to its best use?
• What is the fabric of who you are and how well it can synchronize with your team?
• Whom to seek out and how to seek them out?

If you use the abovementioned points, it should be fairly easy for you to get started on building your ideal team. To put things further in perspective, let’s understand why diverse teams are more efficient than homogeneous teams. And then know how you can build such a team with highly talented members this competitive season.

Understanding How Diverse Teams Outperform Homogeneous Teams

We often gravitate towards others who have the same thought process as us. And for those who don’t, we encourage them to see things our way. But do you think this is the smartest way to go about building a team? Especially when you want to win challenges or innovation competitions? We think it isn’t! And here are some scientifically proven facts that are more than enough to convince you as well:

• Diversity leads to a larger horizon

In 2010, researchers from Carnegie Mellon University, Union College, and MIT, concluded that teams with women happen to be more socially sensitive. They are more receptive to varying opinions, which often leads to a more productive outcome. Therefore, it cannot be gainsaid that better decisions are made when women and men come together at the table.

• The smaller, the better

Are smaller groups more innovative than larger ones? Well, a study by the University of Chicago says so. According to the study, bigger teams are important for advancing science, whereas smaller groups help disrupt it, which is a critical part of innovation. Bigger teams are more conservative whereas the smaller teams, break convention. For instance, they dig into forgotten ideas and create new dimensions.

• Decision-making

A study done by Evan Apfelbaum, an MIT Sloan professor, proves that homogeneous groups are less rigorous in their decision-making. And also that they tend to make more mistakes than teams that are more diverse. 

• The power of multiple points of view

Brainstorming is a word that very well relates to creativity and innovation. A diverse team with different perspectives compels people to push their own biases and look at challenges together, which more often than not, leads to the optimal solution. This is what leads to out-of-the-box thinking, an imperative to innovative solutions.

• Like-mindedness might be bad for performance

According to a 2009 study published in the Personality and Social Psychology Bulletin, homogenous team members naturally find it easier to get each other's points of view, which gives them a feeling of progress. Adding any external member to this mix might cause fiction. However, it also doubles their chance of arriving at the correct solution, from 29% to 60%. As per the study, the task felt harder when the team was made diverse, but the outcomes were better and more precise as well.

How To Build Your Diverse Team?

If you are not mindful of a few key points when creating a diverse team, you might end up with members who don’t fuse well. And that will definitely be counterproductive for everyone involved. It is hence important that you build a proper strategy starting from how to select team members, to how to help them work together like a well-oiled machine (for the most part). Some key points to be considered are:

• Everyone must be a team player:

This is the most important characteristic that you must look for in a team member. Conflicts are inevitable in any team, and more so in a diverse team. But everyone must be prepared to take criticism in a positive manner? They should respect their differences, and take responsibility for their actions and tasks assigned to them. Because ultimately, it is these differences in perspective that will help your team bring home the winning title. And if the members are not team players, no other factors- like group satisfaction, cohesion, or even determination can result in optimal team performance. 

• Analyse the comptetion:

Before you go making any final decisions regarding your team, it is important that you analyze the competition in and out. Get a clear picture of its requirements, framework, and every other aspect. Keep this information in mind and utilize it analytically when looking for members. For instance, a certain competition may require you to have a financial guy, a strategist, and a marketing person in the mix. While another competition of different nature may call for members with more creativity and less technical thought processes. 

• What’s the team IQ?

No, no! This is not the same as the average IQ of team members. It refers to the collective social sensitivity of the team as a whole. This means, accessing the ability of team members to understand each other’s perspectives and behaviors. And to work in tandem with each other despite their differences. As per the study by Carnegie Mellon, teams with higher social sensitivity outperformed the ones with higher composite individual IQs.

• Work towards a common goal:

You can’t expect everyone in the team to simply understand each other. But when everyone shares a common goal diversity and inclusion peacefully coexist. Moreover, studies suggest that this further strengthens performance. 

This brings us to the end of our discussion on why it's important to build a diverse team, and how to go about it. We also wish you the best for the upcoming season of competitions.

Here are some more articles that’ll help you get your competitive groove on:

1. The Neily Warriors (NMIMS Mumbai) Share How They Aced Tech Track For L’Oréal Brandstorm 2022
2. Meet The 20-year Old Guy Who Bagged The D2C Competitive Leader Award 2022 (E-School Track)
3. 6 Best Ways To Enhance Your MBA Career With Corporate Competitions
4. How To Stay Focused When You Have Too Many Ideas!
5. Cheat Sheet To Crack Hiring Challenges And Case Competitions