Fifth, complementing the view of strategies as the result of rational choices or optimal decision- making, we should distinguish and elaborate on field- or population-level beliefs and myths that are spread around to the extent that they become taken-for-granted bases for action (Green et al., 2009) or even fashions (Abrahamson, 1996). For example, the finance sector seemed to collectively construct and maintain a widely shared myth that new derivative products could be developed and operations expanded with very limited risk. How this myth came about and translated into organizational strategies is a major issue in terms of explaining the financial crisis.