Insight: Why We Are Less Self-Aware Than We Think—and What to Do About It

by Tasha Eurich

And it seemed to work. At least at first, as he basked in the success of creating Volvo’s innovative team-based craftsmanship model. But this success would soon sow the seeds of his undoing. In the years that followed, Gyllenhammar’s head grew in lock-step with the company’s profits, earning him the nickname “The Emperor.” His hubris, overconfidence, and refusal to take advice from anybody led him to pursue risky deals with paltry returns, and inexplicably, he often bragged about them to the press. In later years, as Volvo was reporting losses and closing plants, Gyllenhammar was Scandinavia’s highest-paid executive. And because he had seeded Volvo’s board with personal friends, it seemed all but certain that his decisions would go unchallenged.

In Greek tragedy, hubris was followed by nemesis. Jim Collins book, How the Mighty Fall covers this in detail