All entries for Saturday 30 April 2011
April 30, 2011
Groupthink is a phenomenon that refers to the preference to follow the group consensus over the personal logic and reasoning. this can happen in any group even the good ones. there are many reasons for group thinking such as:
- strong, persuasive group leader.
- A high level of group cohesion.
- Intense pressure from the outside to make a good decision.
to avoid groupthink, the team leader should understand and explain the groupthink phenomenon, build an environment of encouraging ideas and criticism, and to follow a decision making process that is clear and involves validating decision before and after they are made.
decision making tools, such as brainstorming and risk analysis, can also help in avoiding or minimising groupthink effect.
During meeting a team leader should:
- always look for signs of groupthink.
- if signs are identified, the team leader should discuss the issue with members and make it clear.
- assess all risks involved in any decision to be made. if risks are high, the leader should seek more validation for the decision.
- can ask for external information and validation.
- use decision making tools and techniques to avoid groupthink in the future.
Although effective leadership, culture and structure are important for successful companies, managing the firm’s assets are occupying a significant position in achieving strategic strategies and sustaining competitive advantage
Assets management for acquiring competitive advantage focused on the physical assets in the past since it was functioning in the post-industrial revolution era. The importance of intangible assets such as people and information is increasingly taking a special importance. EFQM (2010) emphasises that excellent businesses should have the up to date technology and to effectively manage their knowledge and information. Therefore more theories and practices about managing knowledge appear in literature and in practical researches.
however, the integration of the two is the key for building the competitive advantage and achieving the desired returns. in maintenance for example, it is crucial to have a computerised system to manage the amount of data and information generated. new generation will, arguably, enhance performance and cut costs for its development is based on lessons learned from businesses experience.