The Role of Leader Hubris in the Decline of RBS and Lehman Brothers

Wray, Tim

doi:10.1057/9781137439666_12

Cited by 3 publications

(6 citation statements)

References 28 publications

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“…Over-confidentie kan ook leiden tot ondermaatse evaluaties van overnamekandidaten en weinig reële inschatting van integratieproblemen. Om die reden mislukken M&A-strategieën ook zo vaak (Kummer & Steger, 2008;Wray, 2016;Ho, 2008). 8 In de jaren 1980 nam Galbraith al 'financial dementia' waar op Wall Street.…”

Section: Verklaringen: Over-confidentie En 'Illusie Van Controle'unclassified

“…Vastgesteld is dat CEO's die veel media-lof hebben ontvangen en een groot ego demonstreren, herhaaldelijk een hoger bod uitbrengen en de marktwaarde van het aan te kopen bedrijf te hoog inschatten. Vaak blijkt dat zij doof zijn voor kritische geluiden van medebestuurders en dat zij zich omringen met meelopers en jaknikkers (Wray, 2016;Sadler-Smith, 2016). Bekend is dat Sir Fred Goodwin van de Royal Bank of Scotland tussen 2000 en 2007 meer dan 25 bedrijven opkocht, waarvan de laatste -ABN Amro -de ondergang van de bank inluidde (om vervolgens door de overheid gered te worden).…”

Section: Het Ethos Van Winnen Tegen Elke Prijsunclassified

“…Bekend is dat Sir Fred Goodwin van de Royal Bank of Scotland tussen 2000 en 2007 meer dan 25 bedrijven opkocht, waarvan de laatste -ABN Amro -de ondergang van de bank inluidde (om vervolgens door de overheid gered te worden). Hij stond bekend als agressief en arrogant en na het echec met ABN-Amro als 'The Worst Banker in the World' (Wray, 2016;Kerr & Robinson, 2012).…”

Section: Het Ethos Van Winnen Tegen Elke Prijsunclassified

“…Vaak worden overmatige ambities onder de noemer geschaard van 'overconfidence' en 'hubris' (Sadler-Smith, 2016;Wray, 2016) en ook wel 'irrational exuberance' (Shiller, 2000). Sommige CEO's en bestuurders gaan akkoord met groeitargets die nauwelijks te realiseren zijn.…”

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De anomie van machtsillusies

Stokkom¹

2018

Tijdschrift Over Cultuur &Amp; Criminaliteit

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Section: Verklaringen: Over-confidentie En 'Illusie Van Controle'unclassified

Section: Het Ethos Van Winnen Tegen Elke Prijsunclassified

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De anomie van machtsillusies

Stokkom¹

2018

Tijdschrift Over Cultuur &Amp; Criminaliteit

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“…In modern times, the post-Falklands War political hubris of British Prime Minister Margaret Thatcher brought a miserable, and arguably self-inflicted, end to her three-term premiership (Owen, 2012). Hubristic leadership in business organisations has been implicated in the demise of Lehman Brothers and the Royal Bank of Scotland Group (Brennan and Conroy, 2013; Stein, 2013; Wray, 2016). Hubris has also been mooted as an organisational- as well as individual-level phenomenon: the Columbia space shuttle disaster (in which all seven crew members died) and the Deep Water Horizon oil spill in the Gulf of Mexico (current estimated cost $62bn) have been attributed, at least in part, to ‘corporate hubris’ at NASA and British Petroleum, respectively (Mason, 2004; Ladd, 2012).…”

Section: Introductionmentioning

confidence: 99%

Hubristic leadership: A review

et al. 2016

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Hubristic leaders over-estimate significantly their own abilities and believe their performance to be superior to that of others; as a consequence, they make over-confident and over-ambitious judgements and decisions. The fact that hubristic leaders tend to be resistant to criticism, and invulnerable to and contemptuous of the advice of others further compounds the problem. In this article, we review conceptual, theoretical and methodological aspects of hubristic leadership research. We examine hubristic leadership from two standpoints: first, from a psychological and behavioural perspective, we review hubris in terms of over-confidence and its relationship to core self-evaluation and narcissism; second, from a psychiatric perspective, we review hubris as an acquired disorder with a distinctive set of symptoms (Hubris Syndrome), the onset of which is associated with the acquisition of significant power. In doing so, we draw distinctions between hubris and several related constructs, such as over-confidence, narcissism, core self-evaluation and pride. Methodologically, we review how hubris and Hubris Syndrome can be recognised, diagnosed and researched, and we explore some of the unique challenges and opportunities hubris research presents. We conclude by offering some directions for future inquiry and recapitulate the practical and pedagogical significance of this vitally important but under-researched leadership phenomenon

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Jet without fuel: nosedive of Jet Airways

Upadhyay

Farooq

Tripathi

2020

JAMR

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PurposeThis case describes the vulnerability of the Indian aviation sector by highlighting the fall of Jet Airways from one of the biggest airlines in India to bankruptcy. The present case discusses the role of Jet Airways' leadership in managing the external threats that affect aviation business in India.Design/methodology/approachThe present case is built on data collected from secondary sources, including publicly available information about the company, journals, websites, newspapers and reports.FindingsThe case reports findings of how hubris-driven strategic decisions and insecurity of the leader in losing control of the company, led to the grounding of one of the major airline companies in the Indian aviation industry.Originality/valueThe present case study provides valuable insights into the aviation industry in India, focusing on the threats to the aviation business. The case is useful to other airline companies and the aviation business community in dealing with external threats to business and issues of leadership dysfunction.

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The Role of Leader Hubris in the Decline of RBS and Lehman Brothers

Cited by 3 publications

References 28 publications

De anomie van machtsillusies

De anomie van machtsillusies

Hubristic leadership: A review

Jet without fuel: nosedive of Jet Airways

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