strategic planning: the hazards of the Dunning-Kruger effect
Strategic planning tends to involve a lot of consultation to gather perspectives, expertise, and insights from diverse stakeholders. All those ideas help to inform better decisions and foster a sense of shared ownership, but not every opinion will be based on deep thinking or expertise. One quirk of the human brain is that when we know very little about something, we tend to overestimate our competence. This is known as the Dunning-Kruger effect. Our confidence dramatically exceeds our competence, because we simply don't know enough to know how little we really know. In this short video, we briefly explore three hazards of the Dunning-Kruger effect for strategic planning and how to avoid them.