Tag: cognitive bias in management
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The Risks of Overconfidence and Organizational Blind Spots
The term “Icarus Syndrome” draws from mythology, where Icarus ignored his father’s warnings and flew too close to the sun, causing his wax-bound wings to melt and leading to his fall. In modern interpretation, it refers to a person becoming overly self-confident, taking excessive risks, and neglecting necessary precautions in a dangerous undertaking. This is…