Should you trust someone who pitches an idea with confidence?

When somebody pitches a new idea with a lot of confidence, should you trust them?

It depends on where they sit in the hierarchy. In a rigorous new study, managers actually overestimated the value of their own ideas by 42%. Whereas employees underestimated the value of their own ideas by 11%. Managers were overconfident. As they gain power, they privilege their own perspectives. Whereas employees were a little under confident. They said, "Well I don't really know what I'm doing and they second guess themselves." I think that means that managers need to stop falling in love with their own ideas and start listening to the people below them.

One of the easiest ways to do that is to run an innovation tournament - a contest for new ideas. A great example comes from Dow Chemical. They could put out a call for ideas and said we're trying to save energy and reduce waste. We'll take any proposal that costs no more than $200,000 US and it has to be able to pay for itself within a year. Over a decade, they ended up investing in 575 ideas that were submitted into that tournament. And on average they saved the company 110 million U.S. dollars per year. And most of those ideas did not come from people in creative jobs. Often it was an employee on a factory floor who saw something broken and had an idea for how to fix it. But didn't run with it until the tournament was opened. And I think managers ought to run more of those contests.

"I think there are certain times where you have tectonic shifts and change always happens that way."

On the latest episode of 'That Made All the Difference,' Vincent Stanley, Director of Philosophy at Patagonia, shares his thoughts on the role we all have to play in bringing our communities and the environment back to health.

For many, Paul Rusesabagina became a household name after the release of the 2004 tear-jerker film Hotel Rwanda, which was set during the 1994 Rwandan genocide.

Rusesabagina, who used his influence as a hotel manager to save the lives of more than 1,000 Rwandans, has again made headlines in recent weeks after he was reportedly duped into boarding a flight to Kigali, Rwanda's capital, where he was promptly arrested on terrorism, arson, kidnapping and murder charges. Rusesabagina's supporters say he is innocent and that the move is retaliation against the former "hero" for his public criticism of President Paul Kagame, who has ruled the country with a strong hand since ending the civil war in the mid 1990s.

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Listen: Have you ever heard of Blue Zones? They're communities all around the globe—from Sardinia to Okinawa to Loma Linda, CA—where residents exceed the average human lifespan by years, and even decades. While they've been studied for the lessons we can learn about health, lifestyle, and environment, you don't have to live in a Blue Zone to experience increased longevity. It's happening everywhere. In fact, the number of people over 80 is expected to triple by 2050, reaching nearly half a billion. This episode of Living Beyond Borders focuses on the geopolitical and economic implications of an aging global population, how to make the most of new chapters in your life as you age, and what it all means for your money and the world around you.

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Born in the ashes of World War II, the United Nations now marks its 75th anniversary amid another global crisis. But is the world ready to come together today as it did decades ago? Ian Bremmer offers a brief history of the organization, and some memorable moments from years gone by, as the UN's 193 member states gather virtually for the 2020 General Assembly.

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Kevin Sneader, global managing partner for McKinsey & Company, provides perspective on how corporate business leaders think in response to the coronavirus crisis:

How can business leaders approach budget planning for 2021 when the environment is so uncertain?

In short, I believe that the planning process for 2021 presents an opportunity to turn hard earned lessons from the COVID-19 pandemic. It's an enduring exercise that links strategy to value. Now, five steps are needed for this to happen.

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