Is failure inescapable?

From a story in the current issue of the Economist:

So is failure escapable? Only with difficulty˜if a third new analysis, in the latest issue of the McKinsey Quarterly, is correct. Clever people pursue bad strategies, argues Charles Roxburgh, because their brains are wired to do so. Human beings are designed to be overconfident, to be biased in favour of the status quo, and to go with the herd. But the instincts that kept primitive man alive („If it looks like a wildebeest and everyone else is chasing it, it must be lunch‰) are the ones that led Time Warner into its disastrous liaison with AOL and Enron into its suicidal flirtation with electronic markets.

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