You are looking at all articles with the topic "Business". We found 90 matches.

Hint: To view all topics, click here. Too see the most popular topics, click here instead.

🔗 Philosophy 🔗 Philosophy/Logic 🔗 Business 🔗 Politics 🔗 Psychology 🔗 Politics/Corporatism

Groupthink is a psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome. Cohesiveness, or the desire for cohesiveness, in a group may produce a tendency among its members to agree at all costs. This causes the group to minimize conflict and reach a consensus decision without critical evaluation.

Groupthink requires individuals to avoid raising controversial issues or alternative solutions, and there is loss of individual creativity, uniqueness and independent thinking. The dysfunctional group dynamics of the "ingroup" produces an "illusion of invulnerability" (an inflated certainty that the right decision has been made). Thus the "ingroup" significantly overrates its own abilities in decision-making and significantly underrates the abilities of its opponents (the "outgroup"). Furthermore, groupthink can produce dehumanizing actions against the "outgroup". Members of a group can often feel peer pressure to "go along with the crowd" in fear of rocking the boat or of what them speaking up will do to the overall to how their teammates perceive them. Group interactions tend to favor, clear and harmonious agreements and it can be a cause for concern when little to no new innovations or arguments for better policies, outcomes and structures are called to question. (McLeod). Groupthink can often be referred to as a group of “yes men” because group activities and group projects in general make it extremely easy to pass on not offering constructive opinions.

Some methods that have been used to counteract group think in the past is selecting teams from more diverse backgrounds, and even mixing men and women for groups (Kamalnath). Groupthink can be considered by many to be a detriment to companies, organizations and in any work situations. Most positions that are senior level need individuals to be independent in their thinking. There is a positive correlation found between outstanding executives and decisiveness (Kelman). Groupthink also prohibits an organization from moving forward and innovating if no one ever speaks up and says something could be done differently.

Antecedent factors such as group cohesiveness, faulty group structure, and situational context (e.g., community panic) play into the likelihood of whether or not groupthink will impact the decision-making process.

Groupthink is a construct of social psychology, but has an extensive reach and influences literature in the fields of communication studies, political science, management, and organizational theory, as well as important aspects of deviant religious cult behaviour.

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 ) or the purported benefits of team work vs. work conducted in solitude. However, this conformity of viewpoints within a group does not mainly involve deliberate group decision-making, and might be better explained by the collective confirmation bias of the individual members of the group.

Most of the initial research on groupthink was conducted by Irving Janis, a research psychologist from Yale University. Janis published an influential book in 1972, which was revised in 1982. Janis used the Bay of Pigs disaster (the failed invasion of Castro's Cuba in 1961) and the Japanese attack on Pearl Harbor in 1941 as his two prime case studies. Later studies have evaluated and reformulated his groupthink model.

🔗 Philosophy 🔗 Philosophy/Logic 🔗 Business 🔗 Politics 🔗 Psychology 🔗 Marketing & Advertising

Serial-position effect is the tendency of a person to recall the first and last items in a series best, and the middle items worst. The term was coined by Hermann Ebbinghaus through studies he performed on himself, and refers to the finding that recall accuracy varies as a function of an item's position within a study list. When asked to recall a list of items in any order (free recall), people tend to begin recall with the end of the list, recalling those items best (the recency effect). Among earlier list items, the first few items are recalled more frequently than the middle items (the primacy effect).

One suggested reason for the primacy effect is that the initial items presented are most effectively stored in long-term memory because of the greater amount of processing devoted to them. (The first list item can be rehearsed by itself; the second must be rehearsed along with the first, the third along with the first and second, and so on.) The primacy effect is reduced when items are presented quickly and is enhanced when presented slowly (factors that reduce and enhance processing of each item and thus permanent storage). Longer presentation lists have been found to reduce the primacy effect.

One theorised reason for the recency effect is that these items are still present in working memory when recall is solicited. Items that benefit from neither (the middle items) are recalled most poorly. An additional explanation for the recency effect is related to temporal context: if tested immediately after rehearsal, the current temporal context can serve as a retrieval cue, which would predict more recent items to have a higher likelihood of recall than items that were studied in a different temporal context (earlier in the list). The recency effect is reduced when an interfering task is given. Intervening tasks involve working memory, as the distractor activity, if exceeding 15 to 30 seconds in duration, can cancel out the recency effect. Additionally, if recall comes immediately after the test, the recency effect is consistent regardless of the length of the studied list, or presentation rate.

Amnesiacs with poor ability to form permanent long-term memories do not show a primacy effect, but do show a recency effect if recall comes immediately after study. People with Alzheimer's disease exhibit a reduced primacy effect but do not produce a recency effect in recall.

🔗 Companies 🔗 Video games 🔗 Lists 🔗 Business 🔗 Video games/Nintendo 🔗 Popular Culture 🔗 Industrial design 🔗 Video games/Sega

The list of commercial failures in video games includes any video game software on any platform, and any video game console hardware, of all time. As a hit-driven business, the great majority of the video game industry's software releases have been commercial failures. In the early 21st century, industry commentators made these general estimates: 10% of published games generated 90% of revenue; that around 3% of PC games and 15% of console games have global sales of more than 100,000 units per year, with even this level insufficient to make high-budget games profitable; and that about 20% of games make any profit.

Some of these failure events have drastically changed the video game market since its origin in the late 1970s. For example, the failures of E.T. and Pac-Man for the Atari 2600 contributed to the video game crash of 1983. Some games, though commercial failures, are well received by certain groups of gamers and are considered cult games.

🔗 Books 🔗 Business 🔗 Comics 🔗 Comics/Comic strips

The Dilbert principle is a concept in management developed by Scott Adams, creator of the comic strip Dilbert, which states that companies tend to systematically promote incompetent employees to management to get them out of the workflow. The Dilbert principle is inspired by the Peter principle, which holds that employees are promoted based on success in their current position until they reach their "level of incompetence" and are no longer promoted. Under the Dilbert principle, employees who were never competent are promoted to management to limit the damage they can do. Adams first explained the principle in a 1995 Wall Street Journal article, and expanded upon it in his 1996 business book The Dilbert Principle.

🔗 Economics 🔗 Business 🔗 Marketing & Advertising 🔗 Guild of Copy Editors

In marketing strategy, first-mover advantage (FMA) is the advantage gained by the initial ("first-moving") significant occupant of a market segment. First-mover advantage may be gained by technological leadership, or early purchase of resources.

A market participant has first-mover advantage if it is the first entrant and gains a competitive advantage through control of resources. With this advantage, first-movers can be rewarded with huge profit margins and a monopoly-like status.

Not all first-movers are rewarded. If the first-mover does not capitalize on its advantage, its "first-mover disadvantages" leave opportunity for new entrants to enter the market and compete more effectively and efficiently than the first-movers; such firms have "second-mover advantage".

🔗 Books 🔗 Systems 🔗 Business 🔗 Psychology 🔗 United Kingdom 🔗 Engineering 🔗 Invention 🔗 Systems/Project management 🔗 Method engineering

Six Thinking Hats was written by Dr. Edward de Bono. "Six Thinking Hats" and the associated idea parallel thinking provide a means for groups to plan thinking processes in a detailed and cohesive way, and in doing so to think together more effectively.

In 2005, the tool found some use in the United Kingdom innovation sector, where it was offered by some facilitation companies and had been trialled within the United Kingdom's civil service.

🔗 Science Fiction 🔗 Business 🔗 Psychology 🔗 Anthropology 🔗 Hitchhiker's Guide to the Galaxy

"Somebody else's problem" (also "someone else's problem") is a phrase used to describe an issue which is dismissed by a person on the grounds that they consider somebody else to be responsible for it. The term is also used to refer to a factor that is "out of scope" in a particular context.

🔗 Business 🔗 Psychology 🔗 Languages 🔗 Anthroponymy

Nominative determinism is the hypothesis that people tend to gravitate towards areas of work that fit their names. The term was first used in the magazine New Scientist in 1994, after the magazine's humorous Feedback column noted several studies carried out by researchers with remarkably fitting surnames. These included a book on polar explorations by Daniel Snowman and an article on urology by researchers named Splatt and Weedon. These and other examples led to light-hearted speculation that some sort of psychological effect was at work. Since the term appeared, nominative determinism has been an irregularly recurring topic in New Scientist, as readers continue to submit examples. Nominative determinism differs from the related concept aptronym, and its synonyms aptonym, namephreak, and Perfect Fit Last Name, in that it focuses on causality. "Aptronym" merely means the name is fitting, without saying anything about why it has come to fit.

The idea that people are drawn to professions that fit their name was suggested by psychologist Carl Jung, citing as an example Sigmund Freud who studied pleasure and whose surname means "joy". A few recent empirical studies have indicated that certain professions are disproportionately represented by people with appropriate surnames (and sometimes given names), though the methods of these studies have been challenged. One explanation for nominative determinism is implicit egotism, which states that humans have an unconscious preference for things they associate with themselves. An alternative explanation is genetic: a person might be named Smith or Taylor because that was originally their occupation, and they would pass on their genes to their descendants, including an aptitude for activities involving strength in the case of Smith, or dexterity in the case of Taylor.

🔗 Business

A shotgun clause (or Texas Shootout Clause) is a term of art, rather than a legal term. It is a specific type of exit provision that may be included in a shareholders' agreement, and may often be referred to as a buy-sell agreement. The shotgun clause allows a shareholder to offer a specific price per share for the other shareholder(s)' shares; the other shareholder(s) must then either accept the offer or buy the offering shareholder's shares at that price per share.

🔗 Economics 🔗 Systems 🔗 Business 🔗 Sociology 🔗 Organizations 🔗 Engineering 🔗 Systems/Project management

Parkinson's law is the adage that "work expands so as to fill the time available for its completion". It is sometimes applied to the growth of bureaucracy in an organization.