24/05/2021
A theory in practice : 'Illusion Superiority'.
if you feel that you are so great, do realise that you have got over confidence level but not the maturity level.
People overestimate their abilities, often by wide margins.
It’s bad for business. It can lead a boss to ignore the advice of employees and take the group in the wrong direction. It can lead a company to ignore data and double down on a failing product.
I have a personal experience with related to an organisation where i worked sometime ago. There was a huge market risk pertaining to a project it invested but the chairman was over confident without a scientific measurements and the risk calculation was not in the eyes of top management. It was ended with a bankrupt by defaulting huge sum of money to customers & suppliers.
We can see same effect not only in organisations but also in the society with regard to political opinions. Irrespective the political party of red blue green you support, we can see people often express in their expertise on state policies & economic factors but they have the slightest idea about specific topics.
At work or in the society, challenge yourself by routinely questioning your knowledge base and the conclusions you draw. It would help you realise how wrong you are !
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