Does luck play a part in business? According to Chengwei Liu's research it plays a huge part, with good luck largely underestimated by managers and bad luck overestimated.

Listen to the Associate Professor of Strategy and Behavioural Science tell Core Insights host Trevor Barnes how luck and people's ignorance of it can be used to build a strategy to beat your rivals.

Read more on how to use luck to your advantage by using Dr Liu's Analytical Behavioural Strategy here. You can also read an extract from Dr Liu's book Luck: A Key Idea for Business and Society here.