What Happens When Your Success Becomes A Liability | Sutapa Banerjee | The Second Act

Watch Full Conversation on -    • Why Intelligent People Make Terrible Busin...   Why do successful leaders make catastrophic decisions even when the warning signs are right in front of them? Sutapa Banerjee explains how past success, years of experience and overconfidence can become dangerous leadership traps. A leader who has repeatedly succeeded can start believing that what worked in the past will continue to work in the future. But markets change, businesses evolve and yesterday’s winning strategy can quickly become tomorrow’s biggest weakness. The conversation explores why experience and past success are not substitutes for skill, how independent directors can bring different perspectives into the boardroom, and why even people with good intentions can make decisions that have catastrophic consequences. Sutapa also breaks down the sunk cost fallacy and explains why companies sometimes struggle to abandon an idea, investment or business model they have already spent years building. The Kodak example shows how difficult it can be for successful companies to cannibalize their own profitable businesses before someone else disrupts them. From overconfidence bias and optimism bias to sunk costs and the danger of relying too heavily on past success, this is a powerful lesson in leadership, decision-making and why great companies can still fail. Watch the full conversation on The Second Act for more hard-earned lessons from leaders who have seen how businesses succeed, struggle and change. Subscribe to The Second Act for conversations with founders, CEOs and business leaders on the decisions, failures and lessons that shape great companies. Subscribe to our Other Channels : The Second Act -    / @thesecondactshow   The Second Act Shorts -    / @thesecondactshorts   🎧 Stream Full episodes on Spotify: https://open.spotify.com/show/1sNnTnq... Socials : Instagram - thesecondactshow   / thesecondactshow   Facebook - The Second Act   / thesecondactshow