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Groupthink Occurs When the Average Opinion of a Group of Like-Minded

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Groupthink occurs when the average opinion of a group of like-minded individuals becomes more extreme after discussing an issue.


Definitions:

Internal Control

Mechanisms or procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Hot Stove Rule

A principle in management and discipline that suggests consequences should be immediate, consistent, impersonal, and close to the action of misconduct, akin to touching a hot stove.

Progressive Discipline

The process of tying reprimands to the severity and frequency of misbehaviour.

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