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Societal Narcissism and Fraud

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Cicely Nicole

on 14 April 2013

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Transcript of Societal Narcissism and Fraud

Narcissism? What's that? Narcissistic Personality Disorder first recognized in mid 20th century
American Psychology Association (APA)
Can be described as a "grandiose sense of self-importance, along with the need for the admiration from others, arrogance, entitlement, lack of empathy, envy and the tendency to exploit others"
Strong desire for power and dominance What will be discussed? Societal Narcissism
and
Fraud by: Cicely Janes & Kacey Hawkshead http://0eb.com/index_drew.html How does Narcissim relate to Sociopathy and Psychopathy? http://video.about.com/crime/What-Is-Psychopathic-Behavior-.htm Narcissism- is the state or stage of having an erotic interest in one's own body and ego and which in abnormal forms persists through fixation or reappears through regression Sociopathic- relating to, or characterized by asocial or antisocial behavior or an antisocial personality Psychopathic-an individual having an antisocial personality Seek a professional financial or life coaching to develop a plan or strategy in managing money as well as the narcissist themselves.
Confronting the narcissist may not always be wise, but following the appropriate chain of command is a start
The fraud hotline is highly recommended.
It is appropriate to express your feelings and how the behavior impacts employees and the organization as a whole. Fraud Observations Ethical issues that cause the deterioration professional business for ex: A narcissistic manager who shows Machiavellianism: deceiving and manipulating others for personal gain.
That personal gain could be through shrinkage or other fraudulent schemes while exploiting and manipulating others to do the same. That personal gain could be through shrinkage or other fraudulent schemes while exploiting and manipulating others to do the same. Trait vs. Clinical Narcissism Trait Narcissism
"Healthy" narcissist
Stable personality
Confidence
Ability to easily make decisions
Average levels of narcissism What is narcissism?
Clinical vs. Trait Narcissism
Narcissism in College Students
Studies conducted
Recent Fraud Observations
Implications of Narcissistic Qualities
Mitigation Recommendations Clinical Narcissism
"Malignant" narcissist
Dysfunctional relationships
Power, brilliance, & success
Arrogance and haughty behavior Narcissism and College Students Increasing level of narcissism in students all over the world
Narcissistic Personality Inventory (NPI)
Measures narcissistic qualities
Defining Issues Test (DIT)
Moral Judgement
Recent studies on undergraduate business students Let's Take a Closer Look... High Self-Esteem
Narcissism "Excessive self-esteem, exalted sense of self, & blind to weakness"
Enron
Indulgence in flashy parties, jets, etc.
Excessive boasting and bragging
Sense of entitlement
Constant denial that data could not be wrong
Insider trading and fraud ignored
"Yes-man" Low Self-Esteem
Narcissism Environment that is "self-denying, secretive, & projects a profound sense of unworthiness"
Salomon Brothers
Underestimated and undervalued
Thoughts of unworthiness
Blame on lower-level employees
"Arguing about rearranging deck chairs on the Titanic rather than face the reality of the sinking ship"
No body wanted to make the hard and tough decisions "Moral Development and Narcissism of Private and Public University Business Students" Shanda Traiser and Myrson Eighmy examine the correlation of narcissistic personality traits between public and private college students
Defining Issues Test (DIT)
No significant difference
Narcissistic Personality Inventory (NPI)
Public colleges - 15.71
Private colleges - 19.43 Uh oh, what does this mean?! Causes difficulty for team-oriented work in the classroom
Students have tendencies to blame peers for failure
Society will most likely face increasing fraudulent behavior "Organizational Narcissism" Lifestyle issues such as financial difficulties increase the risk of fraud for a narcissist.
Narcissist have an excessive need for vanity and live beyond their means.
Most are in fear of losing everything and are more likely to remedy their financial issues through the commission of fraud. What's Observed & Implicated from College to the Workplace? Fraud Observations and Implications continue... Ethical issues of a narcissist cause the deterioration of professional businesses.
Ex: A narcissistic manager who shows Machiavellianism "any means necessary"
Deception, exploitation and manipulation
Shrinkage or other fraudulent schemes More Observations... So keep in mind that employees are easier to monitor vs. customers.
In 2008 employee theft estimated 15.9 billion in shrinkage while shoplifting estimated 12.7 billion. "The Remedy" "Loss Prevention" So you the narcissist have made it from
the Bottom to the "Top"....... Now what??? "The Remedy" "Be Concise, Discreet and Professional" Fun Fact The Iceberg Theory
or
"Theory of Omission" Observation that in many cases only a very small amount (the tip) of information is available or visible about a situation or phenomenon, whereas the real information or bulk of data is either unavailable or hidden. Only about 1/10th of an iceberg's mass is seen outside while about 9/10th of it is unseen deep down in the water.
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