Groupthink and its Associated Bias Effects

Groupthink and its Associated Bias Effects

Roger provides a detailed explanation on the biggest, but most misunderstood, bias effect: groupthink. He explains the factors driving groupthink and some specific examples that can harm businesses if ignored.
Overview

Groupthink is essentially a cluster of related bias effects that disrupts rational decision making and leads to misconduct. Consequently, financial and conduct regulators expect people to be aware and wary of these biases, in order to prevent future control failures.

Key learning objectives:

  • What is Groupthink?

  • What are the factors driving Groupthink?

  • What are the Groupthink-related biases?

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Summary
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