When on organization\'s leaders and members allow themselves to be captured by t

Question

When on organization's leaders and members allow themselves to be captured by their own beliefs., they see only what they want to see. When coupled with ambition and greed, a feed. back loop develops that increasingly biases the interpretation of information and distorts reality. Group members may rationalize or ignore warning signs that are in conflict with closely held beliefs and develop illusions of invulnerability. Many historians now feel that aspects of these processes are a ewe exploration for the excessive credit expansion that fuelled the 2007 subprime mortgage meltdown and subsequent financial crisis.

Explanation / Answer

Answers:

2. Groupthink can be reduced by a number of ways, some of which are as follows:

3. Yes, increasing the diversity of the financial companies leadership would reduce groupthink at some extent because diversity opens the door to new possibilities and expands the horizon according to varied experiences. Age, race, education, gender etc. gives different approach & perspective to a solution and limits of one’s consence.

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