Are you stuck in a âlogic boxâ? Many years ago, as a young business reporter at the New York Times, I learned about the pernicious concept of institutional imperative. The phrase was coined by Warren Buffett, who first wrote about it in his 1989 letter to shareholders, to help explain why organizations that are run by generally smart leaders often make misguided decisions. Though the term institutional imperative sounds like a good thing, Buffett characterized it as a sheeplike response to power and the status quo that can derail critical thinking. |