As we get older, most of us assume that we get wiser. This is seen to be true for both individuals and organizations. We may call it different names – learning, experience, insight, etc. Some of us may accelerate the process by learning from others’ experiences (through books and training), or by exposing themselves to changing environments (think travel or shifting industries). Others may see themselves as a “lifelong student”, constantly seeking out ways to add to their knowledge base, or challenging themselves to step outside their comfort zone.

But, what does this “wisdom” really mean? Why do we assume that being wiser means having all the answers? Why do we take it for granted that while we are doing the right thing, others (those whose actions are not in sync with our’s) are on the wrong path? Again, this is often true for both individuals and organizations.

Let’s take a look at some of the issues that business enterprises face today: Should it be scarce or abundant? Should it be free or expensive? Should it be about what used to matter or what really matters today? What should we do when our hunches don’t match the data that’s pouring in?

We live in a complex, interconnected world. And, organizations of all shapes and sizes struggle with questions to which they do not have the answers – even if they bring all their experience to bear on the issue. So, why pretend that we know it all?!

The way I see it, knowing what you don’t know is an essential attribute of being wiser. And, working on filling those gaps only means that we are on our way to becoming a better version of ourselves. To me, continuous learning means having the humility to ask a lot of questions, being receptive to other (dissimilar) perspectives, and developing the ability to synthesize them suitably.

We’ve all heard of IBM predicting a world market of “maybe five personal computers”. We know that Kodak missed the bus with digital photography standards, even after inventing the digital camera! And yes, “uberization” is a word now. In other words, just because someone (including your competitor) is on a different path, it doesn’t mean they are wrong.

Believe it or not, organizations can admit – to their employees, customers, stakeholders – that they don’t know every thing, but that they have learned a few things along the way about what works (and doesn’t work) in their unique context. And, so can individuals. Yes, even those in “leadership” positions!

Let me end with the words of a wise Economist who once remarked: “When the Facts Change, I Change My Mind. What Do You Do, Sir?”