The Pivotal Role of Worldviews in Building Knowledge

Value Creation Thinking, May 2016, ISBN: 978-0988596962

19 Pages Posted: 5 Jan 2018 Last revised: 6 Jan 2018

Bartley J. Madden

DePaul University - Center for Strategy, Execution and Valuation; Illinois Institute of Technology - Center for Corporate Performance

Date Written: January 4, 2018

Abstract

The ideas and beliefs for interpreting and interacting with the world constitute your worldview. It holds enormous leverage for either restraining or expediting knowledge building. This chapter, from my book Value Creation Thinking, describes how the explicit incorporation of four core principles into your thinking process can significantly upgrade your worldview: (1) past experiences shape assumptions, (2) language is perception's silent partner, (3) improve performance by identifying and fixing a system's key constraints, and (4) behavior is control of perception, which is the key concept of a new paradigm in psychology that overcomes problems encountered with a stimulus-response framework. These four principles are then used to analyze the large-scale failure of Michelin's run-flat tires, which, in the early 2000s, were widely forecast to be installed on 80 percent of new cars within six years. A short, companion YouTube video for this paper is titled "Reconstructing Your Worldview in Five Minutes."

Keywords: knowledge, worldview, perception, feedback

JEL Classification: D01, D03, D21, D87, G02, M14

Suggested Citation

Madden, Bartley J., The Pivotal Role of Worldviews in Building Knowledge (January 4, 2018). Value Creation Thinking, May 2016, ISBN: 978-0988596962. Available at SSRN: https://ssrn.com/abstract=3096576

Bartley J. Madden (Contact Author)

DePaul University - Center for Strategy, Execution and Valuation ( email )

1 East Jackson Blvd.
Chicago, IL 60604
United States

Illinois Institute of Technology - Center for Corporate Performance ( email )

10 West 35th Street, 18th Floor
Chicago, IL 60616
United States

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