ultimately‚ the quality of the decision. Of course‚ applying a sound judgment process to every key business decision is essential‚ whether it’s about corporate strategy‚ acquisitions or risk. Yet‚ in our surveys‚ audit committee members continue to cite “groupthink” as a concern‚ and many express the need to hear more “dissenting views‚ particularly from down-theline” to support a more rigorous dialogue about the risks facing the company. To this end‚ highlighted here are insights from Enhancing Board Oversight:
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Group Influence Myra Cheung PSY400 May 4‚ 2015 Instructor Carla Kuhlman Part I 1. “How were the people arranged in the physical environment (layout of room and seating arrangement)?” (UOP PSY400‚ 2015) The meeting was held in the living room of one of the board members of the Family Readiness Group for the military command. The environment of the location that the meeting was being held was inviting and warm and there were no particular seating arrangements for the group members
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quality. In May 1983‚ a rapidly-growing Northwestern discount retail chain‚ Hi-Valu‚ approached Suzanne Leister‚ VP Marketing‚ and proposed a private-label agreement. Under this new program‚ BBC would manufacture the Challenger™ line of bicycles exclusively for Hi-Valu. The Challenger line was to be a low-cost value bicycle‚ sold at retail prices under BBC’s normal product lines. This would result in expected cannibalization of an estimated 3‚000 units but incremental sales of 25‚000 units. The
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AVOIDING INVESTMENTS IN FRAUDULENT COMPANIES: THE WORLDCOM FRAUD Introduction The purpose of this report is to investigate and discuss the accounting fraud that occurred at WorldCom in order to recommend improved strategies to Berkshire Hathaway’s management for avoiding investments in companies with fraudulent financials. Accounting fraud is a crime committed by high level employees at an organization to manipulate the organization’s financial statements and intentionally disguise company
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giesen@comcast.net William Pirraglia‚ “Organizational Problems in the Workforce‚” http://smallbusiness.chron.com/organizational-problems-workplace-12570.html Kenneth Blanchard and Spencer Johnson‚ “The One Minute Manager‚” 1982 Irving L. Janis‚ “Victims of Groupthink‚ Boston: Houghton-Mifflin‚” 1972 James Kochanski‚ “Hiring in Self-Regulating Work Teams‚” National Productivity Review‚ Spring 1987‚ pp. 153-59
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Two well-known contributors in the team decision making field recently published a book on best practices (Sunstein & Hastie‚ 2015). Sunstein and Hastie argued that current techniques in team decision making have neglected research and‚ as a result‚ have a tendency to end unfruitfully. This neglect is problematic‚ as research shows that teams can potentially outperform individuals and there are tasks that only cross-functional teams with complementary skills can perform (Hinz‚ Tindale‚ & Vollrath
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2014]. BusinessDictionary.com. 2014.What is anchoring bias? definition and meaning. [online] Available at: http://www.businessdictionary.com/definition/anchoring-bias.html [Accessed: 9 Jan 2014]. Janis‚ I. L. 1982. Groupthink. Boston: Houghton Mifflin. Janis‚ I. L. 1972. Victims of groupthink. Boston: Houghton‚ Mifflin. Kahneman‚ D. 2011. Thinking‚ fast and slow. New York: Farrar‚ Straus and Giroux. Kahneman‚ D. 2011. Thinking‚ fast and slow. New York: Farrar‚ Straus and Giroux.p.218 Kahneman‚ D.‚ Slovic
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Comm101 Tutorial 1) What were the individual factors that contributed to the failure of Enron? Briefly explain two key factors. Enron collapsed in large part because of the unethical practices of its executives. Egoism (Self interest) was one of the major factors contributed to the failure of Enron. Enron’s executives put their own interests above those of their employees‚ company and the public‚ and failed to exercise proper oversight or shoulder responsibility for ethical failings. They allowed
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International Journal of Business and Social Science Vol. 2 No. 13 [Special Issue - July 2011] Defensive and Offensive Strategies for Market Success Dr. Peter Yannopoulos Associate Professor Brock University‚ St. Catharines Ontario‚ Canada‚ L2S 3A1 E-mail: pyannopoulos@brocku.ca Tel: (905) 688-5550 ext. 3909 Abstract In industries in which there is strategic interaction among competing firms‚ companies are continuously involved in defensive and offensive strategies. In this paper we discuss
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AP Psychology Chapter 13 Study Guide COOPERATION AND COMPETITION 1. What is altruistic behavior? What factors promote it? 2. Describe social loafing. When is it likely to occur? When is it not as likely to occur? 3. What is the prisoner’s dilemma? What do psychologists use it for? What has it shown about cooperation and competition? 4. What role does culture play in promoting the transmission of cooperative behaviors? 5. What factors relate to bystander helpfulness or apathy? What is
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