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What Real-World Examples Showcase the Dangers of Groupthink in Corporate Decisions?

Groupthink can be really harmful in companies. Here are a couple of famous examples:

Kodak: This company didn't pay attention to digital photography. They stuck with film because they were scared of changing their successful way of doing things. This fear ended up hurting them a lot.
Blockbuster: The leaders at Blockbuster ignored the growth of streaming services. They kept following the old way of renting movies. Because they didn't change, other companies like Netflix took over the market.

These stories show that when everyone just agrees with each other, it can stop new ideas from happening. This can lead to big problems and failures.

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What Real-World Examples Showcase the Dangers of Groupthink in Corporate Decisions?

Groupthink can be really harmful in companies. Here are a couple of famous examples:

Kodak: This company didn't pay attention to digital photography. They stuck with film because they were scared of changing their successful way of doing things. This fear ended up hurting them a lot.
Blockbuster: The leaders at Blockbuster ignored the growth of streaming services. They kept following the old way of renting movies. Because they didn't change, other companies like Netflix took over the market.

These stories show that when everyone just agrees with each other, it can stop new ideas from happening. This can lead to big problems and failures.

Related articles