Bankruptcy and Groupthink: Difference between pages
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'' | ''Behavioural skills - avoiding cognitive bias - group confirmation bias''. | ||
Groupthink is a form of dysfunctional decision-making, resulting from an excessive focus on harmony or conformity within a group, at the cost of reaching consensus decisions without enough critical evaluation. | |||
It is closely related to confirmation bias. | |||
Solutions to groupthink include increasing diversity in the group. | |||
:<span style="color:#4B0082">'''''Use your own judgement in the New Normal'''''</span> | |||
:"It’s tempting to see the release from [Covid] lockdown as the corporate equivalent of going back to your favourite restaurant. | |||
:For many businesses it won’t be anything of the kind. | |||
:Here’s how to make better choices to navigate the new normal... | |||
:Because we want something to be so doesn’t mean it will be. | |||
:Some of us are pessimists, some optimists, and it’s more comfortable talking to those we agree with. | |||
:These feelings should not get in the way of a cool look at the realities. | |||
:Property company Shaftesbury, heavily involved in problematic London retail areas, talks about strategic acquisitions and selective disposals. | |||
:Avoid wishful thinking or groupthink." | |||
:''Sir Andrew Likierman, professor of management practice, London Business School - The Treasurer, Issue 2, June 2021, p39'' | |||
== See also == | == See also == | ||
* [[ | * [[Acquisition]] | ||
* [[ | * [[Affinity bias]] | ||
* [[ | * [[Bandwagon bias]] | ||
* [[ | * [[Behavioural economics]] | ||
* [[ | * [[Behavioural skills]] | ||
* [[ | * [[Choice supporting bias]] | ||
* [[ | * [[Cognitive bias]] | ||
* [[ | * [[Confirmation bias]] | ||
* [[ | * [[COVID-19]] | ||
* [[ | * [[Critical evaluation]] | ||
* [[ | * [[Default bias]] | ||
* [[Diversity]] | |||
* [[Dunning-Kruger effect]] | |||
* [[Emotional intelligence]] | |||
* [[Executive coaching]] | |||
* [[Hindsight bias]] | |||
* [[Horizon scanning]] | |||
* [[Lockdown]] | |||
* [[Maslow's hammer]] | |||
* [[Objectivity]] | |||
* [[Optimism bias]] | |||
* [[Reactance bias]] | |||
* [[Self-investment bias]] | |||
* [[Self-serving bias]] | |||
* [[Social bias]] | |||
* [[Source bias]] | |||
* [[Status quo bias]] | |||
* [[Working effectively with others]] | |||
[[Category: | [[Category:Commercial_drive_and_organisation]] | ||
[[Category: | [[Category:Influencing]] | ||
[[Category:Self_management_and_accountability]] | |||
[[Category:Working_effectively_with_others]] | |||
[[Category:Financial_management]] | |||
[[Category:Knowledge_and_information_management]] | |||
[[Category:Planning_and_projects]] | |||
[[Category:The_business_context]] | |||
[[Category:Identify_and_assess_risks]] | |||
[[Category:Manage_risks]] | |||
[[Category:Risk_frameworks]] | |||
[[Category:Risk_reporting]] | |||
[[Category:Treasury_operations_infrastructure]] |
Revision as of 12:21, 27 February 2022
Behavioural skills - avoiding cognitive bias - group confirmation bias.
Groupthink is a form of dysfunctional decision-making, resulting from an excessive focus on harmony or conformity within a group, at the cost of reaching consensus decisions without enough critical evaluation.
It is closely related to confirmation bias.
Solutions to groupthink include increasing diversity in the group.
- Use your own judgement in the New Normal
- "It’s tempting to see the release from [Covid] lockdown as the corporate equivalent of going back to your favourite restaurant.
- For many businesses it won’t be anything of the kind.
- Here’s how to make better choices to navigate the new normal...
- Because we want something to be so doesn’t mean it will be.
- Some of us are pessimists, some optimists, and it’s more comfortable talking to those we agree with.
- These feelings should not get in the way of a cool look at the realities.
- Property company Shaftesbury, heavily involved in problematic London retail areas, talks about strategic acquisitions and selective disposals.
- Avoid wishful thinking or groupthink."
- Sir Andrew Likierman, professor of management practice, London Business School - The Treasurer, Issue 2, June 2021, p39
See also
- Acquisition
- Affinity bias
- Bandwagon bias
- Behavioural economics
- Behavioural skills
- Choice supporting bias
- Cognitive bias
- Confirmation bias
- COVID-19
- Critical evaluation
- Default bias
- Diversity
- Dunning-Kruger effect
- Emotional intelligence
- Executive coaching
- Hindsight bias
- Horizon scanning
- Lockdown
- Maslow's hammer
- Objectivity
- Optimism bias
- Reactance bias
- Self-investment bias
- Self-serving bias
- Social bias
- Source bias
- Status quo bias
- Working effectively with others
Categories:
- Commercial drive and organisation
- Influencing
- Self management and accountability
- Working effectively with others
- Financial management
- Knowledge and information management
- Planning and projects
- The business context
- Identify and assess risks
- Manage risks
- Risk frameworks
- Risk reporting
- Treasury operations infrastructure