Saturday, January 28, 2012

Statistical Likelihood and leadership

A student who has taken some elementary statistics or philosophy on reasoning and argumentation is probably aware of something called 'statistical significance'.
Fundamentally, the confidence with which you state that a result was not by random chance is directly proportional with the sample size. As the sample size increases, the confidence increases, but the higher the confidence, the larger increases in sample sizes you need to improve your results.

Confidence of result = (signal/noise)  x  square-root(sample size)

Leaders at the workplace are found in the same fashion.
Competent leaders = square-root(all potential leaders)
Great leaders = cube-root( all potential leaders)

Increase the size of potential leaders and you will realize the the results you see a  significantly better. It might involve more and more search pain as you go along the way, but I assure you that it will be worth the investment.