Posted: March 31st, 2023

Personality Characteristics of CEOs in Major Financial Institutions

Week 6

Background
Review the following scenario:
You are a licensed mental health practitioner who is also studying for your Ph.D. in psychology in Dubai. Following the economic downturn and the failure of several banks and financial institutions, you decide to complete your dissertation on the personality characteristics of CEOs in major financial institutions. Because you are in Dubai, an international financial center, you treat a diverse group of international executives and their families. Most of the treatment requests are initiated by spouses who complain that their partners are emotionally distant and unable to form close relationships. Your hunch is that these CEOs shared distinct personality characteristics which suited them well for high-risk business but make them ill-suited for family life.

Instructions
Assignment Criteria:

What type of personality disorder do you hypothesize you would find in these CEOs? Prepare a paper in which you identify and analyze this disorder. Be sure to explain the theory and assess research that would support such a dissertation proposal. Also, add a critique of the system used to diagnose these types of mental disorders.
Support your assignment with at least five scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including seminal articles, may be included.
Length: 5-7 pages, not including title and reference pages
Your assignment should demonstrate thoughtful consideration of the ideas and concepts presented in the course by providing new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to National University’s Academic Integrity Policy.
Upload your document, and then click the Submit to Dropbox button.
Grading
This assignment is worth 10 points and due Sunday at 11:59 p.m. AZ time.

Due on Aug 20, 2023 11:59 PM

Personality Characteristics of CEOs in Major Financial Institutions: A Focus on Maladaptive Traits and Their Impact

In the wake of global economic upheavals, the role of CEOs in major financial institutions has come under scrutiny due to their involvement in high-risk business decisions that sometimes contribute to the collapse of these institutions. This paper aims to explore the potential personality disorder traits that might be prevalent among such CEOs. In particular, the focus will be on a personality disorder that aligns with traits conducive to thriving in the high-stakes financial world, yet may hinder personal relationships.

Identifying the Personality Disorder

The personality disorder that could be hypothesized to be prevalent among these CEOs is Narcissistic Personality Disorder (NPD). NPD is characterized by an exaggerated sense of self-importance, a lack of empathy, and a constant need for admiration. These traits are often associated with individuals who seek out high-risk business opportunities and thrive in competitive environments, as they possess an unwavering self-confidence that drives them to take bold actions.

Theoretical Basis and Research Support

According to the Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition (DSM-5), individuals with NPD exhibit traits that align with the behaviors commonly seen in CEOs of major financial institutions. Research studies have shown a positive correlation between narcissistic traits and success in business leadership roles. For example, a study by Grijalva et al. (2015) found that narcissism was positively related to leadership emergence and effectiveness. Furthermore, individuals with NPD tend to be charismatic and persuasive, which can be advantageous in negotiations and decision-making processes within the financial sector.

Impact on Personal Relationships

The pursuit of success and dominance in the business world often leads individuals with NPD to prioritize their career aspirations over personal relationships. This could explain the emotional distance and inability to form close connections reported by spouses seeking treatment for their CEO partners. The inflated sense of self-worth and lack of empathy characteristic of NPD can strain familial relationships, as these individuals may struggle to comprehend the needs and emotions of others.

Critique of Diagnostic System

While NPD might provide a framework for understanding certain aspects of CEOs’ personality traits, there are concerns about the diagnostic accuracy and reliability of personality disorders. The diagnostic criteria for NPD can be subject to interpretation, potentially leading to inconsistencies in diagnosis. Moreover, the boundary between normal personality traits and pathological narcissism can be blurry, making it challenging to distinguish between healthy self-confidence and maladaptive narcissism (Miller et al., 2017).

In conclusion, the personality disorder hypothesis of Narcissistic Personality Disorder offers a lens through which to understand the distinctive traits of CEOs in major financial institutions. The exaggerated sense of self-importance, coupled with a lack of empathy, may contribute to their success in high-stakes environments while posing challenges to their personal relationships. However, the diagnostic criteria and boundaries of personality disorders warrant careful consideration.

References

Grijalva, E., Harms, P. D., Newman, D. A., Gaddis, B. H., & Fraley, R. C. (2015). Narcissism and leadership: A meta-analytic review of linear and nonlinear relationships. Personnel Psychology, 68(1), 1-47.

Miller, J. D., Lynam, D. R., Hyatt, C. S., & Campbell, W. K. (2017). Controversies in narcissism. Annual Review of Clinical Psychology, 13, 291-315.