Myths are most often associated with stories from ancient times. However, they have a modern role, too. Myths are tales that are a mixture of fiction and fact that help organise complex information, justify why certain practices are now tradition, and often form the unspoken assumptions of why people and organisations behave the way they do.
While all businesses have practices, procedures and processes, myths are important elements of daily work. Commonly shared, and often cultivated, business myths help provide the underlying beliefs of what is important and fundamental to strategy. In short, behind every business plan and its objective ‘numbers’ are certain unquestioned ‘truths’ that serve as the basis of action.