Groupthink Is a Serious Problem Because It Can Lead Otherwise

question 89

Essay

Groupthink is a serious problem because it can lead otherwise smart people to come to bad decisions.First,what is the psychological attribute of groups that is most heavily involved in groupthink? Give a short description of groupthink,identifying the factors that give it its name.What is the second major factor in groupthink?

---

Definitions:

Net Present Value

A financial metric that calculates the difference between the present value of cash inflows and outflows over a period of time.

Intangible Benefits

Non-quantifiable advantages or value derived from a project, service, or product, such as brand recognition or customer loyalty.

Financially Attractive

A term used to describe investments or projects that are expected to yield a good financial return.

Discount Rate

The interest rate charged by central banks for lending money to commercial banks or the rate used in discounted cash flow analysis to determine the present value of future cash flows.