This is the fifth the Behavioral Finance and Macroeconomics series. We will explore the effect behavior has on markets and the economy as a whole--and how advisors who understand this relationship can ...

Most of us are well aware that groupthink—the phenomenon in which decision-making is ruled by the ease of conformity—is bad for business. When our workplace falls into groupthink, we become complacent ...

Volkswagen is facing blistering criticism for fabricating an announcement that it’s rebranding as “Voltswagen,” when announcing its electric car strategy. That turned out to be nothing more than an ...

Groupthink can be a powerful destructive force. Easily misunderstood as the values that sustain the organization, groupthink is more tied to the “view of the predominant group” and is “characterized ...

The concept of "groupthink," first identified by Irving Janis, refers to the phenomenon in which group members quickly align on certain decisions without critically evaluating or suppressing ...

Reid Hastie does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their ...

Groupthink is a major pitfall in business. It can easily displace independent thinking and good decision making. I remember being in a strategy meeting with an executive team. We were doing scenario ...