https://wiki.treasurers.org/w/index.php?title=Groupthink&feed=atom&action=history
Groupthink - Revision history
2024-03-29T11:37:43Z
Revision history for this page on the wiki
MediaWiki 1.40.0
https://wiki.treasurers.org/w/index.php?title=Groupthink&diff=24214&oldid=prev
imported>Doug Williamson: Add link.
2022-07-10T09:58:29Z
<p>Add link.</p>
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imported>Doug Williamson
https://wiki.treasurers.org/w/index.php?title=Groupthink&diff=24213&oldid=prev
imported>Doug Williamson: Add link.
2022-02-27T12:21:46Z
<p>Add link.</p>
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<td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 12:21, 27 February 2022</td>
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imported>Doug Williamson
https://wiki.treasurers.org/w/index.php?title=Groupthink&diff=24212&oldid=prev
imported>Doug Williamson: Add link.
2021-07-30T17:34:31Z
<p>Add link.</p>
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<td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 17:34, 30 July 2021</td>
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imported>Doug Williamson
https://wiki.treasurers.org/w/index.php?title=Groupthink&diff=24211&oldid=prev
imported>Doug Williamson: Update links.
2021-07-15T09:53:29Z
<p>Update links.</p>
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<td colspan="2" style="background-color: #fff; color: #202122; text-align: center;">Revision as of 09:53, 15 July 2021</td>
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imported>Doug Williamson
https://wiki.treasurers.org/w/index.php?title=Groupthink&diff=24210&oldid=prev
imported>Doug Williamson: Create page. Source: The Treasurer, June 2021, p39.
2021-07-09T01:31:35Z
<p>Create page. Source: The Treasurer, June 2021, p39.</p>
<p><b>New page</b></p><div>''Behavioural skills - avoiding cognitive bias - group confirmation bias''.<br />
<br />
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.<br />
<br />
It is closely related to confirmation bias.<br />
<br />
<br />
Solutions to groupthink include increasing diversity in the group.<br />
<br />
<br />
:<span style="color:#4B0082">'''''Use your own judgement in the New Normal'''''</span><br />
<br />
:"It’s tempting to see the release from [Covid] lockdown as the corporate equivalent of going back to your favourite restaurant. <br />
<br />
:For many businesses it won’t be anything of the kind. <br />
<br />
:Here’s how to make better choices to navigate the new normal...<br />
<br />
<br />
:Because we want something to be so doesn’t mean it will be. <br />
<br />
:Some of us are pessimists, some optimists, and it’s more comfortable talking to those we agree with. <br />
<br />
:These feelings should not get in the way of a cool look at the realities.<br />
<br />
:Property company Shaftesbury, heavily involved in problematic London retail areas, talks about strategic acquisitions and selective disposals. <br />
<br />
:Avoid wishful thinking or groupthink."<br />
<br />
:''Sir Andrew Likierman, professor of management practice, London Business School - The Treasurer, Issue 2, June 2021, p39''<br />
<br />
<br />
== See also ==<br />
* [[Acquisition]]<br />
* [[Affinity bias]]<br />
* [[Bandwagon bias]]<br />
* [[Behavioural economics]]<br />
* [[Behavioural skills]]<br />
* [[Choice supporting bias]]<br />
* [[Cognitive bias]]<br />
* [[Confirmation bias]]<br />
* [[COVID-19]]<br />
* [[Default bias]]<br />
* [[Diversity]]<br />
* [[Dunning-Kruger effect]]<br />
* [[Emotional intelligence]]<br />
* [[Executive coaching]]<br />
* [[Hindsight bias]]<br />
* [[Impostor syndrome]]<br />
* [[Lockdown]]<br />
* [[Maslow's hammer]]<br />
* [[Objectivity]]<br />
* [[Optimism bias]]<br />
* [[Reactance bias]]<br />
* [[Self-investment bias]]<br />
* [[Self-serving bias]]<br />
* [[Social bias]]<br />
* [[Source bias]]<br />
* [[Status quo bias]]<br />
* [[Working effectively with others]]<br />
<br />
[[Category:Commercial_drive_and_organisation]]<br />
[[Category:Influencing]]<br />
[[Category:Self_management_and_accountability]]<br />
[[Category:Working_effectively_with_others]]<br />
[[Category:Financial_management]]<br />
[[Category:Knowledge_and_information_management]]<br />
[[Category:Planning_and_projects]]<br />
[[Category:The_business_context]]<br />
[[Category:Identify_and_assess_risks]]<br />
[[Category:Manage_risks]]<br />
[[Category:Risk_frameworks]]<br />
[[Category:Risk_reporting]]<br />
[[Category:Treasury_operations_infrastructure]]</div>
imported>Doug Williamson