SELF-AWARENESS – A HIDDEN COMPETITIVE ADVANTAGE A key driver of well-being, effective decision-making, and a productive work environment lies in the development of self-awareness. This is a timeless truth, yet in a world overwhelmed by information, rapidly evolving technology, and increasing decision-making complexity, self-awareness remains one of the most crucial – yet often overlooked – factors for success and wellbeing.​ ​​​​​​​THEORETICAL FOUNDATION – WHY SELF-AWARENESS MATTERS Throughout history, humanity’s tendency to be guided by unconscious forces has been expressed in various ways. From the Greek maxim "Know yourself", inscribed in Apollo’s temple at Delphi, to Freud’s insight that "The ego is not master in its own house", to what is now called cognitive bias. Modern research in psychology, neuroscience, and behavioral economics confirms that our decisions are often influenced by such unconscious patterns rather than purely rational considerations. Herbert Simon (1978), Daniel Kahneman and Vernon Smith (2002), and Richard Thaler (2017) were all awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for research that in various ways showed that humans are not always the - Homo Economicus - rational decision makers that traditional economic theory once assumed. They demonstrated that we make decisions based on limited information and cognitive capacity, rely on heuristics, are influenced by psychological factors, and take mental shortcuts that sometimes lead us astray. Biases are not merely cognitive shortcuts — they are often affect regulation in disguise. They protect self-esteem, identity, and position. In leadership, this commonly takes the form of: • Confirmation bias — the tendency to seek validation for existing beliefs rather than rigorously testing and challenging assumptions. Information that threatens the self-image is filtered out, discounted, or reframed. • Status quo bias — resistance to altering established structures, even when change is necessary. What is familiar is perceived as safer and often outweighs the potential gains of what is possible. • Overconfidence bias (particularly common among newly appointed CEOs) — an inflated belief in one’s own competence, control, or predictive ability. Early successes are easily misread as evidence of enduring skill rather than contextual advantage. When unconscious defenses are allowed to be part of decision-making, the cost shifts from the individual to the organization, and ultimately its results. Self-awareness therefore ceases to be a private concern and becomes a matter of responsibility, consequence, and professional maturity in leadership.