 Dear students, I welcome you in the course of Leadership, Emotional Intelligence and decision making. This is module number 227 and the topic under discussion is the overconfidence traps. When we talk about overconfidence, we have to be careful that this thing can create either superiority complex in us or this can this thing can lead us towards making ineffective decision. When you are talking about yourself, when you are talking about your own estimation, remember that the overconfidence is something which can deteriorate your capability to come up with right solutions. The overconfidence trap is always there. You can always be having this type of inculcation in yourself that you may be very confident about something and sometimes we take ourselves towards exaggeration. We tend to be overconfident about our accuracy. Sometimes we think as if that is something which is not captured by anybody else. Remember one thing that overconfidence is something which is going to cause you a lot of damage because in that case we cannot judge where we are making a mistake. We feel as if we have never made a mistake. We feel as if we are always right. We feel as if that is the best possible solution. But it is possible that at the same time, there are other aspects. There are unforeseen events. There are unforeseen risks associated with our situation. It is possible that our knowledge is incomplete about something. It is possible that we are developing an accuracy about our competencies and proficiencies that is not actually the situation. It is possible that there are a couple of gaps. There are a couple of needs that we need to improve. There are a couple of things that we need to get training for. It is possible that we are not aware of many aspects. Therefore, remember that overconfidence is something which is going to always cause you a problem. And at the same time, I am very conscious about this thing. If we go against overconfidence, you might be having an inferiority complex. And this inferiority complex is not something which is going to give you the right outcomes. So what we have to do, we have to try to estimate ourselves in a rightful manner. Similarly, when we talk about overconfidence trap, we have to be careful that we have to think about its business implications as well. Because what we will do is exaggerate things. We will exaggerate data. We will exaggerate information. We will not try to get a lot of data source which is actually called facts and figures. We will not investigate further because we think that we have already comprehended the situation in every way. We overconfidence bias in the external environment and in the bias. We sometimes ignore that there are some changes there. Therefore, remember that we have to accurately calculate ourselves. And to calculate accurately, we have got the solution coming from emotional intelligence which said that we need to increase our self-awareness. The more we will improve our self-awareness, the more we will be able to evaluate our right accurate configuration. The more we will be able to know what are the real aspects associated with oneself. Our own SWOT will tell us what are our strengths, weakness, opportunity and threats and how we need to improve them. As we know that in SWOT analysis, we have to improve our internal strengths. We have to overcome our internal weaknesses. We have to avail our external opportunities and we have to avoid our external threats. Therefore, remember to learn to normalize yourself. Remember that you are going to get yourself aware in the rightful fashion, in an accurate fashion without having any exaggeration, without having any overconfidence or underconfidence. And because of these over and underconfidence, you need to come into the superiority complex or the inferiority complex. Because these are all heuristics. These are all traps which can ruin our distinct effectiveness. You have to improve upon your capabilities to understand what are your strengths, weaknesses, opportunities and threats. You have to understand how you should do your analysis. Dear students, if we conclude everything, then remember that it is very important to do your approximation in the right way. Because from that, we can go towards decision-making. We can save ourselves from these traps and we can do our analysis of when and how we should react. Thank you.