From ACT Wiki
Jump to navigationJump to search
The printable version is no longer supported and may have rendering errors. Please update your browser bookmarks and please use the default browser print function instead.

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