Leading Blog

FEBRUARY 26, 2016

They move before the market can support their idea. When you are the first to market, you have to make all of the mistakes yourself.” Dealing with Groupthink. Cohesion in a group doesn’t cause groupthink. “It just means being different and better.” When originals try to be first they tend to overstep.

Groupthink 150

Groupthink Creativity Innovation Learning-by-Doing 150

Mark Sanborn

SEPTEMBER 17, 2023

Examples: A CEO ignores market research that suggests a new product will not be well-received because he or she firmly believes it’s a good idea. A business leader expands into new markets without sufficient research, thinking that past success will automatically translate to new ventures.

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Dunning Consensus Groupthink Charisma 104

Mark Sanborn

NOVEMBER 28, 2023

In Practice: A CFO might confidently project revenue figures while neglecting market uncertainties and potential disruptions. Groupthink: The Consensus Conundrum The Trap: The desire for group harmony can lead to unchallenged decision-making and potentially flawed outcomes.

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Groupthink CFO Uncertainty Consensus 72

Mark Sanborn

SEPTEMBER 17, 2023

Examples: A CEO ignores market research that suggests a new product will not be well-received because he or she firmly believes it’s a good idea. A business leader expands into new markets without sufficient research, thinking that past success will automatically translate to new ventures.

Dunning 52

Dunning Consensus Groupthink Charisma 52

Chartered Management Institute

FEBRUARY 14, 2024

She also offers advice in The Times on how to overcome “groupthink,” where leaders remain unchallenged and team members withhold their views. Assessing Leadership and Management in Local Government report , published in partnership with the Social Market Foundation. The New Statesman featured CMI’s newly-published Local Heroes?

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Groupthink Newsletter Article Transportation 52

The Idolbuster

JANUARY 15, 2013

I heard a cautionary tale from “George” the former VP of marketing at a mid-sized biotechnology company about how a bogus forecast helped propagate a disaster. Marketing then back calculated the number of units, service contracts, and consumables that would need to be sold to make the forecast.

Biotechnology 41

Biotechnology Groupthink CFO Stress 41

Frank Sonnenberg Online

MARCH 7, 2019

Sonnenberg: Did you ever notice that when you’re in the market for a new car, you seem to notice car ads more than usual? It’s very easy to get caught up in groupthink. How common do you believe it is for people to allow “conventional wisdom” to hold them back? What’s a good antidote for that? The same is true for preconceived notions.

Advice 82

Advice Learning-by-Doing Blog Morale 82

Mark Sanborn

NOVEMBER 28, 2023

In Practice: A CFO might confidently project revenue figures while neglecting market uncertainties and potential disruptions. Groupthink: The Consensus Conundrum The Trap: The desire for group harmony can lead to unchallenged decision-making and potentially flawed outcomes.

Groupthink 40

Groupthink CFO Uncertainty Consensus 40

Chartered Management Institute

JUNE 5, 2024

Companies with a diversity of thought and opinion avoid groupthink. I am a proud man of colour who happens to be gay,” he says. “I I am open about my identity so I create a space where others feel safe to do the same. It leads to better design, better services and better processes.

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Management Diversity Groupthink Article 52

Harvard Business Review

MAY 11, 2012

This is the opposite of groupthink, the creativity-killing phenomenon of too much agreement and too similar perspectives that often paralyzes otherwise great teams. Everyone is just like us — say, marketers or engineers. Finally, integrating divergent views to boost creativity is a natural job for marketers.

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Diversity Creativity Team Groupthink 15

Harvard Business Review

MARCH 27, 2012

If innovation is stimulated by identifying under-served markets and then figuring out a service or product to fill the void, then here are a few low-to-no-cost suggestions for reinvigoration. But each of us as individuals can also work to optimize our innovative capacities. Reduce stress, but don't relax too much.

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Creativity Groupthink Stress GDP 19

Harvard Business Review

FEBRUARY 3, 2011

Recent market updates, a technical deconstruction of various trends, then product frameworks — all in quick succession. We don't get to optimize all products, go after all markets, or add all programs. It happened during the Kennedy Administration's Bay of Pigs fiasco when " groupthink " carried the day.

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Merton Groupthink CFO Cost 16

Harvard Business Review

SEPTEMBER 14, 2011

Dr Reddy's plan is to leverage Chirotech's scientific capabilities to optimize drug development processes, thus lowering manufacturing costs and speeding time-to-market. In recent years, Indian firms such as Dr Reddy's have also started globalizing their R&D footprint by moving into Western markets.

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Globalization Innovation Decentralization Chemicals 14

Harvard Business Review

JANUARY 28, 2011

Hence, your incentives are largely just the same as everybody else at Davos: to perpetuate stale concepts like "profit," "product," and "output," the tired, toxic practices of "strategy," "finance," and "marketing." Hence, the atmosphere of groupthink. Your Mom tends to tell you what you want to hear.

Ethics 18

Ethics Globalization Groupthink Incentives 18

Harvard Business Review

MAY 19, 2017

You can get trapped in a version of groupthink, with a single set of shared relationships. See More Videos > See More Videos > Next, if you get too attached to your boss, your objectivity and ability to think independently may fade.

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Groupthink Video Learning-by-Doing Career 16

Harvard Business Review

DECEMBER 10, 2015

Many of us are familiar with the hazards of Groupthink - when teams or organizations operate on autopilot and feel a general false sense of invulnerability. One strategy that can significantly help teams avoid the dangers of Groupthink and successfully respond to emerging threats and opportunities is to create structured debates.

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Groupthink Team Consensus Christensen 8

Harvard Business Review

NOVEMBER 12, 2013

Just as companies need a diverse workforce to remain attuned to the needs of new and emerging markets and to develop innovative products that compete in a rapidly evolving marketplace, sponsors need protégés who mirror those markets. Fill in your gaps.

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How To Groupthink Diversity Career 10

Harvard Business Review

JULY 2, 2013

Diversity of opinions, rather than indicating board dysfunction, may also give shareholders confidence that the board is tackling important issues holistically and not plagued by groupthink.

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Groupthink Banking CEO Diversity 8

Harvard Business Review

JULY 10, 2017

To drive home the urgency, the coalition’s website, CEOAction.com , directs visitors to research showing that diverse teams and inclusive leaders unleash innovation, eradicate groupthink, and spur market growth. But as Tim Ryan, U.S.

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Ryan Stephenson Groupthink Politics 9

Harvard Business Review

AUGUST 28, 2015

In each case, the market leader had a chance to invest or partner with the upstart that eventually disrupted them. Without cohesion, there is no common purpose, but without diversity groupthink will set in and eventually that purpose will lose relevance. Wal-Mart and Sears. Netflix and Blockbuster. Google and Yahoo.

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Groupthink Agility Diversity Retail 8

Harvard Business Review

APRIL 25, 2017

Taken together, all of us establish a “consensus” view on the markets. ” In other words, they didn’t want to hear the groupthink. When I worked on Wall Street, my professional circle was initially limited to other folks in the financial services sector: bankers, traders, analysts, economists.

Career 9

Career Groupthink Banking Video 9

Harvard Business Review

JULY 17, 2015

While both had top people, one was dramatically more successful in the market. Teams low in diversity often succumb to groupthink; they agree with each other too quickly and fail to consider novel courses of action. How did the stars at that firm manage to shine brightly together, while those at the other merely twinkled on their own?

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Team How To Efficiency Groupthink 8

Harvard Business Review

OCTOBER 20, 2016

Additionally, you’re more prone to groupthink if you’re not exposed to diverse perspectives and points of view. 85% of your closest contacts are fellow marketers), it’s time to think consciously about how to diversify. If your network is weighted more than 70% in any direction (e.g.,

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Industry Venture Capitalist Bond Groupthink 8

Harvard Business Review

OCTOBER 24, 2016

Ask what you’d do if you were entrepreneurs preparing to enter your market de novo. Learn about and watch out for confirmation bias , overconfidence , survivor bias , and groupthink. Ask what would be the equivalent in your industry of something that’s working well in another. What could go wrong? How badly will it hurt?

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Due Diligence Groupthink Strategy Customer Loyalty 8

Harvard Business Review

AUGUST 4, 2014

All too often, when marketers talk about their “social strategy,” they really mean a digital marketing strategy implemented on social platforms, rather than using social dynamics to benefit their business. Pepsi actually lost market share and fell to number three in the cola wars for the first time in modern history.

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Media Marketing Strategy Groupthink Kaplan 10

Leading Blog

MARCH 13, 2012

Rather than engaging in an endless tug-of-war over the dwindling crumbs in a finite market, collaborative companies find ways to make the pie bigger, or create whole new pies , expanding everyone’s market and revenue. Without diversity groupthink sets in. Diverse Group. Diversity is the power behind collaboration.

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Cooper Groupthink Diversity Teamwork 285

Strategy Driven

OCTOBER 31, 2019

Groupthink is a real thing. Dan took his leadership and technology experience to work on and in the Sparklab startup business accelerator as well as lead change management and profit building initiatives for mid-market companies. For example, be careful what kind of company you keep. Bad company corrupts good morals.

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Cooper Groupthink Leadership Styles Servant Leader 50