“Singapore needs new mindset to be an innovation hot spot. The risk appetite of Singaporeans may need to be increased. They need to be prepared to take risks, to be prepared to fail or not succeed and try again. We need a new mindset,”
Deputy PM Teo on what makes the state competitive – and what needs to change.
What is growth mindset?
People with Growth Mindset believe skills can be developed. They have higher learning agility and lower sense of helplessness. In the face of challenges, they demonstrate persistence to overcome obstacles and attain goals. People with Growth Mindset do not give in to setbacks easily. They commit hard work and find lessons in ‘failures’ which lead them to progress as capable individuals.
What is Fixed-Mindset?
In organizations, leaders with fixed-mindset are detrimental to employees. These managers believe one’s capabilities are cast in stone and perceive their employees’ low capacity and incompetence to be the root cause of failures. They are also less likely to coach employees about how to improve the performance or to offer constructive feedback.
The Importance of Growth Mindset in the Workplace
Carol Dweck suggested that the benefits of a business fostering a growth mindset include:
- Higher levels of trust between employees
- Higher levels of engagement
- More creative and innovative culture
- Less likely to endorse and engage in unethical behavior
- Reduced ‘blame game’ culture
The Misconception of Growth Mindset
Ways to Develop Growth Mindset Culture
In our research involving Growth Mindset, there are significant linkages between Growth Mindset and individual performance, leadership development, change management, team synergy, sales effectiveness and service excellence. Whether your organization is undergoing change or gearing up for the evolution of the workforce, leveraging on Growth Mindset may prove to be the difference between thriving and struggling.
- Minds of Successful Managers (Lead with Strategic Perspectives) – For Managers/ Leaders
- Coaching for Growth – For Managers/ Leaders
- Growth Mindset for Sales – For Sales Professionals
- Connecting with Customers – For Customer Service Professionals
- Growth Mindset and Innovation – For Individuals and Managers
- Growth Mindset – For Individuals and Managers
- Agility for Change – For Individuals and Managers