It is well known that some people are more prone to take risks than others. The English business magnate, investor, and philanthropist Sir Richard Branson has once said:
“Don’t let fear of failure be an obstacle. Entrepreneurship in its very essence is all about taking risks.
But what is the difference between the entrepreneurship and the unjustified risky decisions? Risk-taking is often related to Narcissism as a personality trait. Fraud perpetrators are also risk-takers. They are arrogant, confident and determined to succeed – traits which are all related to Narcissism. Other researchers also report that Narcissism is significantly higher among convicted white-collar crime offenders.
Ironically, the competitive organizational environment nowadays fosters the qualities intrinsic to the narcissist – self-confidence, a sense of superiority, entitlement, and self-enhancing. Narcissists truly believe that everything happens because of them and everything that people do or say is about them.
Read the article about the “toxic leadership” to find out how these people treat their subordinates and colleagues if they climb up the ladder in the company.
- Blickle, G., Schlegel, A., Fassbender, P., & Klein, U. (2006). Some Personality Correlates of Business White-Collar Crime. APPS Applied Psychology, 55(2), 220-233.
- Bucy, P. H. (2008). Why do they do it? the Motives, Mores, and Character of White Collar Criminals. Saint John’s law review Saint John’s Law Review, 82(2), 401-571.