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Power Tends to Corrupt Decision-Making
New research explores how power can fuel overconfidence and negatively impact decision-making.
Case in point: the 2009 Gulf of Mexico oil rig disaster. British Petroleum (BP) executives had downplayed potential risks associated with their oil well, claiming that it was virtually impossible that a major accident would ever occur.
That same oil rig exploded, killing 11 workers and causing a massive oil spill that is costing BP an estimated $100 billion.
Nathanael Fast and his co-authors say the BP case represents only one example that illustrates a fundamental truth in the world of business: unconstrained power can hinder decision-making.
http://psychcentral.com/news/2012/03/02/power-tends-to-corrupt-decision-making/35498.html
Rush, are you listening.......?
