By understanding extremes we often can get a better grasp of concepts. No one has a totally open or a totally closed mind. Yet we all can intuitively understand what a closed mind or an open mind means. Having been in hundreds of businesses has allowed me the chance to get a good feel for how different minds produce different business results. While not scientific these observations do provide some insight into 'mindset' and business success.
Open minds take more risks, fail and lose money more often.
They also succeed more often and have a greater degree of success. The closed mind has fewer headaches in the short term, more migraines in the long term. The open mind gets more decision- making practice and makes better decisions. The closed mind tends to restrict options and think sluggishly. In business openness tends to produce better 'evolution' and competitive advantage.