The Effects of Learning from Direct and Indirect Experience on Team Creativity
All entrepreneurs should (and more theoretical types myself included) read this….as Buffett said you could spend your whole life reading about investing until you invest you haven’t learned anything.
As a counterpoint, if you actually do read this study you find something interesting. Vicarious learning is difficult for creatively linked activities. Investing is not exactly what I would call the most creative thing in the world – so I do agree with Munger (here) “when it comes to investing people need to learn directly and indirectly”. The real question is where does creativity fit with investing, is it in thinking about risk…perhaps risk is one of the areas where direct experience teaches you how to creatively think about the future.
Abstract (Via Gino, Argote, Spektor)
How does prior experience influence team creativity? We address this question by examining the effects of task experience acquired directly and task experience acquired vicariously from others on team creativity in a product development task. Across three laboratory studies, we find that direct task experience leads to higher levels of team creativity and more divergent products than indirect task experience. Moreover, our results show that the difference in team creativity between direct and indirect task experience persists over time. Finally, our findings demonstrate that transactive memory systems fully mediate the effect of direct task experience on team creativity. Teams who acquired task experience directly are more creative because they develop better transactive memory systems than teams who acquired experience vicariously. We discuss how our findings contribute to understanding the effects of prior experience on team creativity, and the role of transactive memory systems in creative tasks.