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Thrive Global: Can too much self-belief impact the success of a business?
Originally found at Thrive Global, by Katie Hurley
Being too optimistic about one’s ability and future prospects could one reason businesses are failing, according to research by the University of Cologne.
The study, conducted by Professor Fabian Sting and a team of interdisciplinary co-authors, found that businesses could be failing as managers might seen their own innovation abilities and future more optimistically than they actually are, affecting how they view their ideas.
Failing to grasp the true value of an idea can lead a business to be run on poor selection decisions, miss out on great opportunities or to make costly investments, which could threaten their survival.
Continue reading the original article at Thrive Global
Read the original research in Academy of Management Journal
Learn more about the AOM Scholars and explore their work:
- Christoph Fuchs, Technical University of Munich
- Fabian J. Sting, University of Cologne & Erasmus University Rotterdam
- Maik Schlickel, Independent
- Oliver Alexy, Technical University of Munich.