“Objectively appraising the comparative strengths and weaknesses of a company’s resources and capabilities relative to competitors is difficult. In assessing their own competencies, organizations frequently fall victim to past glories, hopes for the future, and their own wishful thinking. The tendency toward hubris among companies means that business success often sows the seeds of its own destruction”. (Miller)

In my interpretation, I think Miller is basically saying that the more successful you get, the more likely you are to overestimate your own strengths/abilities and underestimate the strengths/abilities of your competition.

It may not be applicable in all organizations, but certainly intriguing…

The take away? In your assessment, always seek the truth; be careful that you aren’t over-emphasizing the evidence that confirms your pre-existing ideas/conclusions.

* D. Miller, The Icarus Paradox: How Exceptional Companies Bring About Their Own Downfall (New York: Harper-Business, 1990).