Managerial Hubris: Case Study of Farrow Bank
Instances of leaders and managers portraying overconfidence as far as their managerial behavior is concerned are not rare. This excessive overconfidence is referred to as managerial hubris (Brown, 2006). The individual overwhelmingly believes they cannot wrong. In most part, this behavior emanates from a sustained period of success, which makes the individual unrealistically perceive themselves as somewhat prone to error. Hubristic behavior can be costly to an organization, sometimes even leading to downfall (Hollow, 2014). This was particularly true for Farrow Bank, a booming bank in the early 20th century. The bank collapsed in 1920, with managerial hubris on the part of its founder and CEO, Thomas Farrow, being the major contributing factor. Focusing on the failure, this case study explores the implications of managerial hubris on organizational success. The case study particularly pays attention to four issues: how corporate culture, leadership, power, and motivation drove Thomas' hubristic behavior; the relationship between managerial hubris and ethical decision-making; the pressures associated with ethical decision-making at the bank; as well as the extent to which managerial hubris may have been avoided.
As depicted in the case study, four factors contributed to Thomas' hubristic behavior: power, leadership, corporate culture, and motivation. As early as the age of 19, Thomas was already close to power (Hollow, 2014). He served as a confidential and political secretary to powerful politicians in the British government, notably Rt. Hon W.H. Smith (head of the lower legislature)...
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Farrow's Bank -- Case Study On Management Hubris Case Study on Management Hubris, a report about 1920's Farrow's Bank. VICTIMS RIGHTS MOVEMENT Characterizing Farrow's Hubris The steady rise and increase in Farrow's Bank's prominence boosted Farrow's confidence and determination. Farrow stopped seeing himself as just a banker, and became increasingly vocal regarding matters of industrial legislation and national policies. He took liberties by airing his views through the Bank's in-house publications and giving strong
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