Ergo Incorporated loses its competitive edge as the management deems it unnecessary to invest in technology and innovations.Instead,it focuses more on unreliable ventures and ends up taking some risky decisions.What bias does the example indicate?
A) Hindsight bias
B) Self-serving bias
C) Availability heuristic
D) Leniency error
E) Overconfidence

Question

Quizplus · Accepted Answer

The example indicates overconfidence bias, as the management of Ergo Incorporated was overly confident in their decisions and neglected investing in technology and innovations, which led to the loss of their competitive edge.

Ergo Incorporated Loses Its Competitive Edge as the Management Deems