CIM Week 1 Lecture

Narcissistic CEOs often prioritise short-term gains and flashy initiatives over long-term sustainability.

• True

• False

Answer explanation

Narcissistic CEOs often focus on short-term gains and attention-grabbing projects rather than long-term stability. They prioritise initiatives that bolster their image and provide immediate gratification.

Which of the following traits is NOT characteristic of a narcissistic leader?

• Exploitativeness

• Empathy

• Arrogance

• Self-absorption

Answer explanation

Narcissistic leaders typically lack empathy and struggle to understand or care about the feelings of others. They are primarily concerned with their own needs and desires.

How might a narcissistic CEO's focus on social praise impact their decision-making, and what are the potential consequences for the company?

Answer explanation

A narcissistic CEO's craving for social praise can lead to impulsive and risky decision-making, such as excessive spending on acquisitions or advertising, even when those decisions are not financially sound. They may prioritise decisions that generate positive press and accolades over strategies that are beneficial for the company in the long run. This behaviour can ultimately harm the company's financial performance and long-term stability.

The lecture suggest that narcissistic CEOs can lead to both extremely positive and negative company performance. Why is this the case, and what factors might contribute to these fluctuations?

Answer explanation

Narcissistic CEOs can cause extreme performance fluctuations because their decisions are often driven by ego and a desire for personal glory rather than sound business strategy.

Positive Performance: Initially, their charisma and grand visions can inspire employees and attract investors, leading to periods of rapid growth.

Negative Performance: However, their lack of empathy, reckless spending, and resistance to criticism can quickly lead to poor decisions, damaged relationships, and financial instability.

How can boards and organisations mitigate the risks associated with narcissistic leadership, especially regarding succession planning?

Answer explanation

Organisations can mitigate the risks of narcissistic leadership by:

Board Vigilance: Boards need to be vigilant in monitoring CEO behaviour, scrutinising decisions, and demanding accountability.

Succession Planning: Implementing robust succession plans that are not dependent on the narcissistic CEO's preferences is crucial.

Culture of Feedback: Fostering a culture where open and honest feedback is encouraged, even when directed at the CEO, can help counter the narcissist's resistance to criticism.

What are the ethical implications of narcissistic leadership, particularly concerning the exploitation of others and a lack of empathy?

Answer explanation

Narcissistic leadership raises several ethical concerns:

Exploitation: Narcissists often exploit others to achieve their goals, disregarding the well-being of employees, customers, or stakeholders.

Lack of Integrity: Their focus on self-promotion and image management can lead to a lack of transparency and ethical lapses in decision-making.

Toxic Culture: Their behaviour can create a toxic work environment that undermines trust, collaboration, and psychological safety.

Decolonising the marketing curriculum involves challenging and dismantling colonial mindsets and structures embedded in traditional marketing practices.

• True

• False

Answer explanation

Decolonising the marketing curriculum requires challenging and dismantling colonial mindsets, assumptions, and power structures embedded in traditional marketing practices.

Which of the following is NOT a key aspect of decolonising marketing?

• Prioritising customer insights from historically marginalised groups.

• Reinforcing existing power imbalances and biases.

• Adopting a bottom-up approach to understanding customer needs.

• Acknowledging and addressing potential resistance to change.

Answer explanation

Decolonising marketing aims to challenge and dismantle existing power imbalances, not reinforce them. It seeks to create a more equitable and inclusive approach to marketing.

Explain how decolonising marketing goes beyond simply promoting diversity and inclusion.

Answer explanation

Decolonising marketing extends beyond simply promoting diversity and inclusion. It requires a critical examination of the historical and structural roots of inequality in marketing practices. It involves:

Centring Marginalised Voices: Actively seeking and incorporating the perspectives and lived experiences of historically marginalised groups.

Challenging Dominant Paradigms: Questioning and challenging the dominant Western-centric paradigms that have shaped marketing theory and practice.

Transformative Change: Advocating for structural changes within the marketing industry to dismantle systems of oppression and create a more just and equitable field.

What are the potential challenges and benefits of integrating decolonised marketing principles into the organisational strategy?

Answer explanation

Challenges:

Resistance: There may be resistance from those who benefit from the existing power structures or who are uncomfortable with confronting the colonial legacy of marketing.

Strategy Development: It requires significant effort to develop and integrate decolonised content into existing stratefies.

Maintaining Authenticity: There is a risk of tokenism or superficial approaches if decolonisation is not approached with genuine commitment and depth.

Benefits:

Relevance and Inclusion: It creates a more relevant and inclusive strategy that reflects the diversity of the world and prepares the organisation for a globalised marketplace.

Critical Thinking: It encourages critical thinking about the ethical and societal implications of marketing practices.

Social Justice: It contributes to broader social justice efforts by challenging systems of oppression and promoting equity within the field of marketing.