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Enron was an American energy company based in Houston, Texas in 2001. It was revealed that the company had been engaging in accounting fraud. Enron had been hiding billions of dollars in debt via various accounting loopholes, the company's shareholders filed a $40 billion lawsuit.
Irving Lester Janis (May 26, 1918 – November 15, 1990) was an American research psychologist at Yale University and a professor emeritus at the University of California, Berkeley most famous for his theory of "groupthink", which described the systematic errors made by groups when making collective decisions.
Groupthink is sometimes stated to occur (more broadly) within natural groups within the community, for example to explain the lifelong different mindsets of those with differing political views (such as "conservatism" and "liberalism" in the U.S. political context [7] or the purported benefits of team work vs. work conducted in solitude). [8]
In groupthink theory, a mindguard is a member of a group who serves as an informational filter, providing limited information to the group and, consciously or subconsciously, utilizing a variety of strategies to control dissent and to direct the decision-making process toward a specific, limited range of possibilities. [1]
Sally Fuller and Ramon Aldag argue that group decision-making models have been operating under too narrow of a focus due to the overemphasis of the groupthink phenomenon. [2] [3] [4] In addition, according to them, group decision-making has often been framed in relative isolation, ignoring context and real-world circumstances, which is a likely consequence of testing group decision-making in ...
However, while in groupthink, individuals undergo self-deception and distortion of their own views (driven by, for example, not wanting to suffer in anticipation of a future they sense they cannot avoid by speaking out), in the Abilene Paradox, individuals are unable to perceive the views or preferences of others, or to manage an agreement. [3]
The bandwagon effect is a psychological phenomenon where people adopt certain behaviors, styles, or attitudes simply because others are doing so. [1] More specifically, it is a cognitive bias by which public opinion or behaviours can alter due to particular actions and beliefs rallying amongst the public. [ 2 ]
In social psychology, social loafing is the phenomenon of a person exerting less effort to achieve a goal when they work in a group than when working alone. [1] [2] It is seen as one of the main reasons groups are sometimes less productive than the combined performance of their members working as individuals.