Dunning-Kruger effect in business

The Dunning-Kruger Effect is a cognitive bias where the unskilled rate their ability higher than the average while competent people undervalue their ability. The reason unskilled people suffer from the Dunning-Kruger effect is that their own incompetence makes them unable to rate themselves. Compare to Imposter Syndrome, it is a feeling that people who have succeeded at something experience, believing that it was just luck or chance that lead to their success, not their abilities. Instead, Dunning-Kruger subjects believe they are very intelligent and tend to over-inflate their abilities because they can’t recognize their incompetence in comparison to others

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