Mr.Smith,manager of ABC Corp.,plans to acquire another company.He is on the verge of negotiating with the other company's manager.Mr.Smith is predisposed to attribute successful outcomes to his own skill while holding bad luck or others squarely responsible for all unsuccessful outcomes.This tendency has unfortunately led him to make deals that have not been successful.What is his problem known as in business negotiation terms?

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Mr. Smith's problem is known as self-reinforcing incompetence, which refers to the tendency to continue making the same mistakes and failing to learn from past experiences. This is often caused by a bias towards taking credit for successes and blaming others for failures, which leads to overconfidence and a lack of critical self-reflection. This can be particularly problematic in business negotiations, where successful outcomes rely on a willingness to learn from mistakes and adapt to changing circumstances.

MrSmith,manager of ABC Corp