The consequences can be severe and multifaceted: - Financial Losses: Poor decision-making can lead to significant financial downturns. - Reputational Damage: Persistent overconfidence can tarnish a leader's and the company's reputation. - Employee Turnover: A lack of empowerment and respect for team members can result in high turnover rates. - Stagnation: Overconfidence can hinder innovation and adaptation, making it difficult for a company to stay competitive.