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Are you someone who believes that their skills and abilities are set in stone, or do you have a growth mindset where you believe that you can always improve and develop new skills? In the corporate world, the difference between a fixed and growth mindset can make a huge impact on the success of a business. Let’s explore these two mindsets and how they differ with corporate examples.

Fixed Mindset

Individuals with a fixed mindset believe that their skills and abilities are predetermined and unchangeable. They tend to avoid challenges, fearing that they will fail and expose their weaknesses. In the corporate world, individuals with a fixed mindset often resist change and innovation, preferring to stick with traditional methods and practices.

An excellent example of a company that had a fixed mindset was Blockbuster, a video rental chain that dominated the market in the late 90s and early 2000s. Blockbuster was slow to embrace the new technology of online streaming, and as a result, they lost their market dominance to newer, more innovative companies like Netflix. Blockbuster’s fixed mindset prevented them from seeing the potential of online streaming, and they paid the price for their lack of adaptability.

Growth Mindset

In contrast, individuals with a growth mindset believe that their skills and abilities can be developed and improved over time. They embrace challenges and view failures as opportunities to learn and grow. In the corporate world, individuals with a growth mindset are often more open to change and innovation, willing to take risks to achieve success.

An excellent example of a company that had a growth mindset is Amazon. From its humble beginnings as an online bookstore, Amazon has grown to become one of the largest companies in the world, thanks in part to its commitment to innovation and growth. Amazon is constantly exploring new technologies and methods to improve its operations, such as its use of artificial intelligence to optimize its supply chain and its development of drone delivery systems.

Why It Matters

In the corporate world, the difference between a fixed and growth mindset can make all the difference in the success of a business. A fixed mindset can lead to stagnation, while a growth mindset can lead to innovation and growth. By embracing a growth mindset, individuals and companies can unlock their full potential and achieve greater success.

In conclusion, the differences between a fixed and growth mindset are significant, and they can have a profound impact on the success of a business. By adopting a growth mindset and embracing change and innovation, companies can position themselves for success in the ever-changing corporate landscape. As companies are made of individuals, at the end of the day, the mindset of the management boards and the staff of a company will ultimately define the mindset of the company. So it worths starting with the man in the mirror.

If you agree, grab 30 minutes on my calendar to ask any questions you have about your own mindset.