Growth Mindset: The Genesis of Success

A person's mindset is reflected in how they define and implement their goals - both business and personal ones. Our mindset plays a major role in defining our personality, how we perceive successes and failures, as well as our emotional, cognitive, behavioral, and neurological responses.

In a study on the impact of mindset on our lives, Carol Dweck - Stanford University Psychology Professor, has come up with two different types of thinking: Growth mindset and Fixed mindset.

What is Fixed mindset and Growth mindset?

1. Fixed mindset

People with a Fixed mindset believe that one's abilities, qualities, and traits are fixed and cannot change over time. They regard one's success as a result of pure talent - not efforts. Therefore, they constantly try to prove their inherent intelligence and avoid failure at all costs. They are reluctant to change and grow.

2. Growth mindset

Those with a Growth mindset, on the other hand, believe that they can learn and improve themselves through efforts and failures. They recognize their own weaknesses and always strive to improve themselves. To them, setbacks and challenges are merely lessons for them in order to develop their existing qualities and talents.

Differences between Growth mindset and Fixed mindset

To demonstrate the influence of mindsets on human behavior, Professor Dweck conducted an experiment on how children react to challenges and setbacks.

In this study, she asked a group of children to solve a series of puzzles with increasing difficulty. Those with a Fixed mindset chose to solve more easy puzzles to prove their competence. Meanwhile, the kids who choose to solve more difficult puzzles are those with a Growth mindset. That is because they see it as a challenge through which they can learn and grow - even if failure is inevitable.

“Individuals who believe their talents can be developed (through hard work, good strategies, and input from others) have a growth mindset. They tend to achieve more than those with a more fixed mindset (those who believe their talents are innate gifts).”

Professor Carol Dweck

7 key attributes of Growth mindset

There are many attributes that are prevalent in people with a Growth mindset, including:

• Resilience;
• Ambition;
• Optimism;
• Creativity;
• Perseverance;
• Determination;
• Collaboration.

All of these traits are beneficial not only to our individual growth but also to our growth as part of the community.

Growth mindset - The Genesis of Future Success

A person's mindset, unconsciously or consciously, can motivate them to grow further or hold them back from all progress and development. According to research by Professor Carol Dweck, Growth mindset provides us with the necessary confidence, courage, and motivation to achieve greater results. As a result, those with a Growth mindset are better capable of adapting their approach to different problems in different contexts.

According to Harvard Business Review, organizations that value Growth mindset emphasize positive views of their employees and commonly have “happier employees and a more innovative, risk-taking culture.” If people are more willing to step outside of their comfort zones, they will be able to learn and grow from these challenges. This, in turn, helps increase innovation, efficiency, and productivity.

Why some people do not have a Growth mindset

However, despite the many obvious benefits of Growth mindset, why do many people still stick to a Fixed mindset?

Usually, it is because of our fear of failure and insecurity. When dealing with failure, people with a Fixed mindset tend to blame others or criticize themselves - which will ultimately lead to negative emotions and discourage them to grow further.

Conversely, those with a Growth mindset understand that the harder they work and persevere, coupled with a positive outlook when faced with difficulties, the greater success they will achieve.

Fortunately, one can change their beliefs, as long as they understand the importance of personal development and are determined to make changes. Start with simple things like abandoning bad habits or losing weight, then focus solely on the performance - not the results. Remember, the key to success is not giving up when something goes wrong.

Triggering Growth mindset for Rapid Gr?wth

Many business leaders often elevate the importance of performance goals over goals for learning. However, learning goals are important because they encourage us to experiment, learn, and grow - unlike performance goals that simply focus on what we’re capable of doing.

Among the current VUCA world, Growth mindset is even more critical to business success. With so many uncertainties around us, taking risks is inevitable - and this is only achievable if we are ready to face failure and learn from it.

Are you ready to grow your mindset? Then book a seat at ITD World's Global Leadership e-Summit (GLS) to hear from our expert - Dr. Marshall Goldsmith - about the best practices in developing the necessary mindset for sustainable growth.

Global Leadership e-Summit (GLS) 2020 preview

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