Being Overconfidence: Does It Lead To Failure?

According to the text overconfidence may be the mother of all biases. (p14). Bias, prejudice mean a strong inclination of the mind or a preconceived opinion about something or someone. A bias may be favorable or unfavorable. Prejudice implies a preformed judgment even more unreasoning than bias. Being overconfident is excessively being confident according to http://dictionary.reference.com/browse/overconfidence?s=t. Many companies fail because of their organizational structure. Not assigning specific roles and task can lead to failure. Decisions that aren’t made effectively end up hurting the company. The text suggest that companies fail for the lack of organization in making speedy and accurate decision. Being over-precise when one can
be too sure of himself where he makes a bad judgement call based on evidence that could be inaccurate that leads his lack of confidence. One can also overestimate himself thinking their better than others, smarter and more efficient leading to believe they possess more knowledge that they really have. Lastly one can believe that their position places them in a greater role than they truly are for example a manager who thinks his title give him the ownership of the company can put the whole organization in jeopardy. Too many people making decisions could ruin the company. The Chapter suggest utilizing the Rapid decision making tool. RAPID is an acronym that stands for Recommend, Agree, Perform, Input and Decide. Assigning individuals to each category and giving them a specific task would enhance the organizations ability to be effective, efficient and successful.
I can recall starting our church and utilizing the core concept method which is similar to the RAPID tool.
We started out with a core group of about ten individuals. Similar to recommend, two individuals were assigned to gathering data for a building search. They were in charge of looking at real-estate and identifying properties that may be good for the church. Two individual were assigned to look over and approve or disapprove the properties that were chosen and recommended by our real-estate search team. These were the agree individuals. The people who had a strong vested interest in the churches vision and was able to financially back the Pastor were the performing individuals who decided to make the purchase once the decisions were researched and recommended. The group who stood alongside the performance group were the input guys. They advised the performance team and supported them in the purchase and conclusion of the purchase. The Pastor had the “D”. After careful research and planning and communication with the team. When all parties involved were on the same page and in agreement we sealed the deal with a word of prayer and the signing of the mortgage. Reading chapter two and the article “Who has the D” reminded me of the preparation and planning for the purchase of our church. At times we had individuals who fell into the over confidence decision making process and there were some initial errors made because of it. We had to do some reassigning of positions due to over estimation and over precision. Some individuals jumped ship because they claimed to be knowledgeable but at the end of the day they were unable to fulfil the commitment. At the conclusion of the purchase those who were left were those who continue to support and follow the ministry and stand and support the Pastor and her
vision.