The late Steve Jobs was a prime example of an overconfident CEO who was also a wildly successful innovator. Not interested in focus groups or feedback from his colleagues, Jobs stuck to his perfectionist vision for such revolutionary inventions as iTunes, the iPhone and the iPad.
Was Jobs an anomaly, unlike any other CEO? The conventional wisdom is that overconfidence in a CEO is a liability, associated with terrible business decisions that do harm to a company. But an upcoming paper in the Journal of Finance suggests that in fact, like Jobs, overconfident CEOs foster greater levels of innovation, in the form of riskier projects, larger investments in research and development, and more innovation.
To read the full, original article click on this link: Overconfident CEOs Are Better Innovators - Forbes
