Groupthink - Revision history

imported>Doug Williamson: Add link.

2022-07-10T09:58:29Z

Add link.

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			* [[Cohesion]]
	* [[Confirmation bias]]		* [[Confirmation bias]]
	* [[COVID-19]]		* [[COVID-19]]

imported>Doug Williamson: Add link.

2022-02-27T12:21:46Z

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	* [[Confirmation bias]]		* [[Confirmation bias]]
	* [[COVID-19]]		* [[COVID-19]]
			* [[Critical evaluation]]
	* [[Default bias]]		* [[Default bias]]
	* [[Diversity]]		* [[Diversity]]

imported>Doug Williamson: Add link.

2021-07-30T17:34:31Z

Add link.

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	* [[Executive coaching]]		* [[Executive coaching]]
	* [[Hindsight bias]]		* [[Hindsight bias]]
			* [[Horizon scanning]]
	* [[Lockdown]]		* [[Lockdown]]
	* [[Maslow's hammer]]		* [[Maslow's hammer]]

imported>Doug Williamson: Update links.

2021-07-15T09:53:29Z

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	* [[Executive coaching]]		* [[Executive coaching]]
	* [[Hindsight bias]]		* [[Hindsight bias]]
	* [[Impostor syndrome]]
	* [[Lockdown]]		* [[Lockdown]]
	* [[Maslow's hammer]]		* [[Maslow's hammer]]

imported>Doug Williamson: Create page. Source: The Treasurer, June 2021, p39.

2021-07-09T01:31:35Z

Create page. Source: The Treasurer, June 2021, p39.

New page

''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 ==
* [[Acquisition]]
* [[Affinity bias]]
* [[Bandwagon bias]]
* [[Behavioural economics]]
* [[Behavioural skills]]
* [[Choice supporting bias]]
* [[Cognitive bias]]
* [[Confirmation bias]]
* [[COVID-19]]
* [[Default bias]]
* [[Diversity]]
* [[Dunning-Kruger effect]]
* [[Emotional intelligence]]
* [[Executive coaching]]
* [[Hindsight bias]]
* [[Impostor syndrome]]
* [[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:Commercial_drive_and_organisation]]
[[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]]