Dr. Solange Charas
Espousing that team transparency is “motherhood and apple pie” is fine, however it is important to understand how high-TQ and transparent teams generate positive economic outcomes. The underlying economic theory is Information Asymmetry Theory (IAT) brought to the public eye by Nobel prize-winning Professor Joseph Stiglitz. IAT states that when one party has more or better information than the other, and is unwilling or unable to share this information, an imbalance of power occurs and this has a measurable economic opportunity cost – in other words, information asymmetry generates economic losses. The key to reducing information asymmetry is making sure your team fully shares information with one another. The way to know if your team is doing this is to get assessed for Team Intelligence (TQ).