Human Factors to Avoid in Business

In business like in life none has the future guaranteed. No matter how successful your business gets you need to keep it on its toes. There are three human factors that you shall avoid when doing business:

1. Arrogance
2. Pride
3. Getting cocky

The case of Research in Motion (BlackBerry) is the clearest example of this. From becoming the fastest growing smartphone manufacturer to the fastest slumping one. The CEOs killed its success believing none couldn't take them from their perch. Until real genius and technology innovator Steve Jobs unveiled the iPhone to the world.

"RIM was losing its grip on the enterprise and consumer markets, but the company's management was still in denial. In the fall of 2010, Balsillie and Lazaridis called the sales team in to discuss RIM's roadmap, including plans to launch an iPad competitor, the PlayBook. "Mike came in to that sales meeting about as arrogant as you could be," says a former RIM executive. "The feeling at that time was that we were substantially behind Apple in the smartphone category. But he had no doubt that we would succeed given the products we had coming." The Playbook was a disastrous flop." 

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