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The term stereotype was first used around a century ago, but its meaning and implications are relevant today due to an increase in group diversity and interactions. Stereotypes are simplistic and generalized beliefs about group members that can have negative consequences. This article reviews some of the evidence relating to two of the most common implications of stereotypes; discrimination and changes in cognitive and physical performance related with stereotype threat. The findings from this article may be helpful for human resource (HR) specialists, professors, health related specialists and those engaged in evaluation activities.