Abstract The aim of this paper is to study how to mitigate and avoid the perils of hubristic leadership in an organization by using risk management concept. The objective of this study is to identify the main factors that influence the hubris leadership and how the perils of hubris leadership might be mitigate and avoid by using risk management concept. Finally, the main factors that influence the hubris leadership is such like excessive self-confidence, self-importance, egotism, an incentive and abrasive, aloofness or arrogance, betrayal of personal trust and overdependence on a mentor and risk control has been used to minimizing the risk of the loss in hubris leadership by using techniques of risk avoidance and risk reduction. The concepts advanced, and implications discussed, provide an insight into the role of leader in reducing hubris and this paper suggest that future research should attempt to examine other factors that may influence the hubris leadership. Keywords: Hubris leadership, perils, risk management 1.0 Introduction Nowadays, leadership is very vital issue in term of successful and failure any company or organization.
These issues allowed for the loss of competitive advantage, and customers. However, these issues are challenges which can be rectified with the implementation of a methodological construct. Palmer, Dunford, and Akin argued that, “a strategist, utilizing the traditional organization development approach, along with structural activities, helps the organization employees resolve their problems” (Palmer, Dunford, Akin, 2009, pg. 194). Palmer, Dunford and Akin identified a number of action steps which must be prioritized in order to erect a change plan.
Without a formal procedure, the contributory factors to the process are difficult to conclude. Preferences and values of decision-makers vary and are inconsistent. The discussion may be hindered and the effectiveness of the model is limited (Guy,
To further this point, Levy (2015), greatly underestimates the theory of dispositionism. The main issue some found with this theory is that it they believe it had a hard time finding a solution for why some peoples actions change in certain instances. Some psychologists believe that in order to predict one’s behavior in social situations, it depends on how they believe the other person will respond: “The ability to control one’s outcomes in social situations often depends on one’s ability to predict others’ behavior. The quality of everyday life decisions, such as the decision to approach or avoid others, to compete or cooperate, or to seek or avoid help, depends on one’s ability to predict how others will respond” (Liberman, 2003, p. 485). Based on this information, it seems that every choice, no matter what the situation is a voluntary choice.
Through their research, they identified a positive correlational relationship between laissez- faire leadership and role ambiguity and also with conflict among the team members-both of these outcomes were produced on the DecisionTech executive team. Ambiguity, as found in the research, is a direct connection to the third dysfunction described in the novel- “lack of commitment” (Lencioni, 2007.) Having uncertain roles on a team creates an environment that encourages apathy in goal completion. The lack of follow through is related to the individual intrinsic value that each team member has- when one’s role is not clearly defined and established, the member lacks role value on the team and therefor does not feel the need to commit to decisions made as a team
The attribution theory also has weaknesses. The feedback obtained by these attribution can influence the way in which an individual perceives an event or cause this is supported by Weiner’s(1992) theory of stable-unstable dimensions and the attributions made with failure and success. The perception of causes or events are viewed and interpreted differently by the individual and the observer and finally biases and preconceived social consensus can alter perception. Oversimplification and universality of the overall model in relation to causal factors(McLeod,2010).Kelley and Michela(1980) state that the covariation model is limited by “the accuracy with which covariation between events is perceived”; the affect is created by the predisposition in relation to the cause-effect relationship with
Firms that are less known or could not indicate a long history of profitability may usually be underpriced due to unpredictable risk associated in valuation (Damodaran, 2009). Some argue that by deliberately underpricing the IPO, the issuing companies, attract publicity and gain better reputation (Fitza, 2010). Due to its internal and external unpredictabilities surrounding IPO underpricing, the topic remains an interesting subject among
6.2 Create appropriate dissemination processes to gain commitment from stakeholders in an organisation In the implementation of a strategic plan, it is important that the company involves its stakeholders in the change process. This however, should be done with care as stakeholder involvement should be done based on their importance, influence to the change and the degree at which the proposed change will affect them. Peter Senge in his field book ‘Fifth Discipline’ elaborates on the levels of involvement of stakeholder groups based on the importance of the change to the organisation. Source: Change Management Toolbook (2010) Telling – is a situation where the decision has already been made by the company’s management, albeit in the best
Risk Risk management is the ongoing process to identify, analyze, assess, and treat loss exposures and monitor control and financial resources to mitigate the adverse effects of loss. Acceptable risk The degree of potential losses that a society considers acceptable given existing social, financial, political, social, technical and environmental conditions. In engineering terms, acceptable risk is likewise used to evaluate and characterize the structural and non-structural measures that are required to reduce possible damage to individuals, property, services and frameworks to a chosen tolerated level, as indicated by codes or "accepted practice" which are based on known probabilities of hazards and other factors. Probabilistic Risk Assessment
It seems porter 's five forces model depends intensely on building up the attractiveness of an industry. By setting up the attractiveness of an industry, associations are doing one of two things; building up the profitability of an industry or, as Porter proposes, the importance of technique plan is coping to rivalry '. In addition, the industry attractiveness is determined by composing plan to shield the association from serious competition (Enz,