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The Power of Groupthink and What We Can do About It

Groupthink is a phenomenon especially experienced by large organizations, such as govenrment, financial insitutions or large corporations. What it does, it drowns out critical thinkers in executive management committees or boards all in the assumed interest of greater efficiency, to meet corporate goals or to increase profitablity. as a result large entitities are subject to serious risk management failures. The midair explosion of the space shuttle Challenger in 1986 is a glaring examples of the devastating impact of groupthink. But executives and policy-makers can learn from these sometimes failures and proactively include critical thinkers and they must. To view the video, please go to YouTube and search under Uwe Bott. You will also find there my previous video on the Eurozone. 

The Courage of Our Convictions Carries the Day