A self-serving bias is any cognitive or perceptual process that is distorted by the need to maintain and enhance self esteem. When individuals reject the validity of negative feedback, focus on their strengths and achievements but overlook their faults and failures, ...they are protecting the ego from threat and injury.
These cognitive and perceptual tendencies perpetuate illusions and error, but they also serve the self's need for esteem.
For example, a [business man] who attributes [profits] ...to their own intelligence and preparation but attributes [losses] to [everyone else] is exhibiting the self-serving bias.
Studies have shown that similar attributions are made in various situations, such as the workplace, interpersonal relationships, sports, and consumer decisions."