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Narcissistic CEOs and Organizations: The Case of Ralph Hamers

and the ING bank.

By

Thomas Reinders

University of Groningen Faculty of Economics and Business

Research Paper for Pre-MSc IB&M (EBS014A10)

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Narcissistic CEOs and organizations: The case of Ralph Hamers

and the ING bank.

Abstract

ING has been in the news for some scandals which are been linked to narcissism. This applies to both the organization and their CEO. This research tests whether Ralph Hamers and ING are narcissistic, and the relation between both. For Hamers the research found 6 of the 9 characteristics of a narcissistic leader of the DSM IV list by the American Psychiatrist Association. This paper also found 5 of the 11 characteristics of a narcissistic organization, with the help of the characteristics of a narcissistic organization list by Godkin & Allcorn (2012). Analysis are done by a research company who are testing the data gathered from the research population by surveys.

Key words: Narcissism, Ralph Hamers, ING, Narcissistic organization, narcissistic characteristics.

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Narcissistic CEOs and organizations: The case of Ralph Hamers

and the ING bank.

Contents

1. Introduction 4

1.1 Initial motive 4

1.2 Problem description and analysis 5

1.3 Central research question 6

1.4 Research question 6 1.5 Methods 7 2. Literature review 8 2.1 Theory 8 2.2 The case 14 3. Hypotheses 16 4. Research plan 18 4.1 Sample 18

4.2 Measurements and measures 19

4.3 Research design 19

4.4 Analysis 20

5. Analysis and discussion 21

6. Conclusions and recommendations 22

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1. Introduction and central research question

1.1 Initial motive

With companies growing bigger and bigger in the modern-day economic environment some CEOs can gain a huge amount of power and influence on both their company and the environment of this company. These CEOs are often well-known persons that are extremely rich and can sometimes be accused of being narcissistic. They are often seen in important position as leaders of countries or at the top a big organisation. Narcissism is a relatively unchangeable personality disorder consisting of grandiosity, self-love and inflated self-views (Campbell et al., 2011). That means that persons that are narcissistic are often not able to change their personality very easy. This is something that is important for a company to know. A company that is led by a narcissistic CEO is always influenced by this person in some way. By example the amount of acquisitions usually increases (Chatterjee & Hambrick, 2007). This is why this topic is very relevant and important for firms and their businesses. Narcissism can also be seen as a form of bad leadership (Higgs, 2009). This causes that there should exist a great amount of interest of business in narcissism. The biggest reason for this is that bad leadership can lead to several problems whitin a company. Some examples of

problems that can occur when having bad leadership in a company are: • The abuse of power to achieve personal gain.

• Breaking rules to serve their own purposes. • A high level of control to satisfy personal needs.

These problems cannot always be prevented, because sometimes a narcissistic CEO can be one of the founders of the company. In this case a company can’t do much about the appointment of a certain CEO.

A narcissistic organization is an organization that is in the grip of narcissism. In the modern-day business environment, there is a lot of interaction and contact between different

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1.2 Problem description and analysis

Narcissistic leaders can have a negative impact on organizations. On the medium to long-term they often fail to create an environment for sustainable performance (Maccoby, 2000).

In this research we are going to focus on one specific case, which is the CEO of the successful company ING bank, Ralph Hamers. Because Hamers is a very wealthy man which can often be found in a negative way in news articles, he can very easily be associated with being a narcissistic leader. Hamers became CEO of ING in 2013 as the youngest CEO the bank ever had. Very recently Hamers made the newspapers for making a transfer to the Swiss bank UBS, even though many say that his work at ING is far from done (Smit, 2020; NOS, 2020). UBS became interested in Hamers because of the daring digital innovation he made during his time at ING. Hamers also made the newspaper in 2018 for some noise about his salary, which according to some was too high. Hamers received a raise of 50% from ING but was criticised heavily for his. He even became a target for a lot of Dutch politicians. Eventually the raise of Ralph Hamers his salary was turned back by ING. In an interview with NRC Hamers

described himself as a sympathetic and disciplined man, but certainly not everyone thinks of this the same way (NRC Handelsblad, 2020). We are also looking at whether ING is a narcissistic organization or not. Because ING is one of the biggest banks in the Netherlands its level of narcissism can have a great influence on the business environment, which makes it an interesting problem to look at.

1.3 Central research question

Despite some articles and papers that write about the possibility of Hamers being a narcistic person/leader, up until this point there is a lack of real evidence to say whether he is a narcissist. In this research the focus is to investigate whether Ralph Hamers is a narcissistic CEO, but also to see if ING is a narcissistic organization. That means that the central research question of this article is going to look as follows:

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1.4 Research questions

The theoretical questions are mainly there to describe the theory and show all the different attributes and influences of narcissism. The theoretical research questions are:

• What is narcissism?

• What are the characteristics or symptoms, and types of narcissism? • What is a narcissistic leader?

• What is a narcissistic organization?

• How does a narcissistic leader influence the organization?

• What are the (short-term and long-term) effects of this influence: on other parties, on

strategy, performance, etc.?

• How can a narcissistic leader and narcissistic organization be identified, diagnosed

and measured?

When the research questions about the theory are answered, there is going to be looked at some case specific questions. The theory is going to be used to apply to the case of Ralph Hamers meets the theory about narcissism. The research questions that are focussing on the case of Ralph Hamers as a CEO of ING are as follows:

• Is ING’s CEO Ralph Hamers a narcissistic leader?

• Was ING a narcissistic organization? What was the influence of Hamers on ING when

we look at the rate of being a narcissistic organization?

1.5 Methods

In the next chapter the research questions as described above are answered. The focus will be on both the theory questions and the case questions about Hamer and ING. In chapter 3 the hypotheses of this research paper are going to be formulated. These first 3 chapters are the first part of this research paper. The second part of this research paper consist of 3 chapters also. In chapter 4 the research plan is formulated. Chapter 5 is about the results and

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2. Literature review

2.1 Theory

In this part of the literature review multiple aspects of narcissism are described. These aspects are important to understand to eventually say something about the case. The first 4 questions are focused on narcissism at persons, and organizations. The other questions are focussed on the influence that narcissism can have on organizations and their environment.

Definition of narcissism

First of all, it is important to clarify the definition of narcissism. Narcissism is a personality construct rather than a clinical disorder (Higgs, 2009). According to the article of Campbell et al. (2011) narcissism is a relatively hard to change consisting feeling of grandiosity, self-love and inflated self-views. According to the Diagnostic and Statistical Manual of Mental

Disorders (DSM) a narcissistic personality disorder is a mental condition in which people have an inflated sense of their own importance, a deep need for excessive attention and admiration, and a lack of empathy for others (Ronningsstam, 2009).

Characteristics and types of narcissism

In this part narcissistic characteristics or symptoms, and types are discussed. This is especially important to eventually identify a narcissistic person. According to the DSM IV narcissist have a grandiose sense of self-importance, fantasies of unlimited success and power, and beauty. They also have a belief that he or she is special and unique and can only be

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are an envy against other, and an arrogant demeaner. Narcissist also believe that others are even envious to them. To be narcissistic an individual needs to possess at least 5 symptoms of the DSM IV list (Campbell, 2011).

Next to characteristics and symptoms there are also some types of narcissism. There are 2 main types of narcists according to Campbell et al. (2011). The grandiose narcist is someone who is over confident, high in self-esteem and attention seeking, but also not willing to take criticism and lacking in true empathy. A vulnerable narcist is someone who thinks the world is against him and is very hostile and has a low self-esteem (Campbell et al., 2011). Another type is the productive narcissist, which is mentioned by Maccoby (2008). Productive

narcissists are experts in their industries, but they go beyond it, because they always want to be in control, they want to learn everything that affects the company and its products. Another potential danger with narcissists is that they can easily become unrealistic dreamers, which is another type of narcissist. They are independent and not easily impressed. They are also innovators, driven in business to gain power and glory (Maccoby, 2000).

Definition of a narcissistic leader

Because this research is about a CEO of a company it is important to find symptoms of a narcissistic leader. According to an article of Malcolm Higgs (2009) narcissistic leaders are leaders that want to be in the centre of the attention, believing they are better than others and have a great amount of self-admiration. Narcissistic leaders have compelling, even gripping, visions for companies, and they have an ability to attract followers. Mintzberg et al. (2002) described 2 types of leadership; the engaging management style and the heroic management style. In the engaging management style managers are interacting with their employees and helping them to grow. In the heroic management style managers are more important and are apart from the rest of the organization. In most cases CEOs receive bonusses when increasing the share price. A heroic leader has a lot of narcissistic symptoms and so can be seen as the more narcissistic leadership style (Mintzberg et al., 2002).

Definition of a narcissistic organization

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press releases and annual reports (Duchon & Burns, 2008). A research by Godkin & Allcorn (2009) provides a list with 11 criteria or characteristics of a narcissistic organizations. These criteria are:

1. Huge amount of pride in the organization, its accomplishments and great hope is held for future successes. Leaders see few limitations regarding what may be accomplished and are not worried about how to accomplish goals.

2. Feelings of entitlement causes anger of others, customers and the public interest. 3. When excessive pride is threatened and goals are not achieved, envy and rage arise.

The leader or management group becomes hyperactive and willing to expend limitless time and energy to succeed and win over rivals.

4. There is a history of firings and demotions, and of non-supporters and resistors being banished. Resistance is a threat and will not be tolerated.

5. Management by intimidation is common. 6. Fear causes decrease in creativity.

7. Filtered information flows influence organizational reality, and magical thinking is present.

8. Others are frequently blamed.

9. The sense of mood within the organization is unpredictable where one day a great success is celebrated, a week later there exists despair over not achieving the smallest of goals.

10. Many in the organization are alienated from the organization and its leaders preferring to hide out in their foxholes.

11. In and out group dynamics are polarized and there is considerable evidence of

distressing and destructive internal competition and open warfare (Godkin & Allcorn, 2009).

The next questions are about a narcissistic person influencing their company and other

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The influence of a narcissistic leader on the organization

In this part of the research there is described how a narcissistic leader influences his

organization. A narcissistic CEO influences an organization often with strategic dynamism, grandiosity and a large number of acquisitions. Narcissistic CEOs also tended to undertake bold moves that attracted attention and resulted in either big wins or big losses. Duchon & Burns (2008) found that there was a positive relationship between CEO narcissism and both extreme and fluctuating organizational performance (Duchon & Burns, 2008). There is a strong view that, in the longer term, narcissistic leadership is damaging to an organization internally. Narcissistic leadership can be damaging in terms of culture and morale (Kets de Vries, 1993). Other researchers suggest that narcissistic leaders can have a positive influence on organizations, because they provide a strong sense of vision (Maccoby, 2000). They say a degree of narcissism in the leader can be necessary for success in a faltering organization, but the impact on the organization is only temporary. The problem is that the benefits of

productive narcissism are argued to be only for mid-term, rather than sustainable,

organizational outcomes (Chatterjee & Hambrick, 2007). That means that for the long term a narcissistic CEO is mostly toxic for a company.

The short-term and long-term effects of a narcissistic leader on other parties, strategy and performance

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Identifying, diagnosing and measuring narcissistic leader and organization

In this part there is described how a narcissistic leader and organizations can be diagnosed and measured. According to the theory about the characteristic of a narcissistic leader we can recognize a narcissistic leader by the DSM IV test. When a leader possesses at least 5 of the 9 narcissist symptoms, he is narcissistic. To measure a narcissistic leader the personality

inventory test (NPI) is used. This measurement identifies the DSM characteristics in

individuals. The NPI is a measurement tool that assesses subclinical levels of narcissism, and produces a full-scale narcissism score (Rosario, 2005). The test contains 7 dimensions

(authority, exhibitionism, superiority, entitlement, exploitativeness, self-sufficiency, and vanity).

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2.2 The case

In the case part of this literature review the case of Hamers and ING is discussed. There is going to be looked at which narcissistic characteristics of the theory part are found for Hamers and ING

Is ING’s CEO Ralph Hamers a narcissistic leader?

In this part of the paper there is discussed which narcissistic characteristics Ralph possesses. Every characteristic of the DSM IV list that is found is discussed below.

Characteristic 1

The first characteristic that is found, is that Hamers has a self-perception of being unique and that his opinion is superior. This is shown by Nico Tanghe (2020) in an article in “De

Standard”. Tanghe said that even when the whole world has another opinion, Hamers keeps holding on his opinion is the truth. More proof is shown in an interview with the NRC Handelsblad (2020), in which Hamers described himself as a person who is a trained

introvert. He says he is a person who is very outspoken and always gives his opinion, but he also learned himself to be very sympathetic and disciplined to the outside world. Despite there were a lot of people who had a very different opinion about him, because of his cold and arrogant holding, he kept holding on that he is sympathetic and certainly not arrogant (Meesterburrie & Ritzen, 2020).

Characteristic 2

The second narcissistic character that was found is that Hamers has an arrogant demeanour. This again is shown by Tanghe (2020). Tanghe describes how arrogant and full of

self-confidence Hamers can be. Hamers has a high self-self-confidence, which gave him a license from the top of the ING to start with the digital revolution he wanted.

Characteristic 3

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employees Hamers told the media things were going really well with ING, and that the company found itself in a very good economic time. A lot of people think this statement that he made was not appropriate. It showed that he cared less about the needs and feelings of his employees and the situation that they were in (Serrure, 2020; Financieel Dagblad, 2020). On top of that, in the same time period Hamers received a pay raise. Doing this in the same period in which 7000 employees were fired, shows that he cares less about the feelings of his employees (Business Insider, 2020).

Characteristic 4

The fourth narcissistic symptom that was found in this case, is that Hamers is exploiting others to achieve personal gain. This is also proved by the example of Hamers having an unwillingness to empathize with the feelings, wishes, and needs of other people. More proof for Hamers exploiting others to achieve personal gain in particular is found in Financieel Dagblad (2020) & RTLZ business (2020). These news articles say that multiple labour unions accused Hamers of being an ice-cold person with no empathy

Characteristic 5

The fifth characteristic according to the DSVN IV list that is found for Hamers is that he has a need for continual admiration from others. This characteristic of narcissism is the main reason why Hamers was really happy with his transfer to UBS. He felt like he was not receiving enough appreciation for his work at ING (Smal, 2020; Tanghe, 2020). For example, in Hamers eyes the digital revolution he developed was a necessary and a forward step in the right direction. Instead Hamers only received critics form employees and labour unions. Some critics that he was not expecting, because he feels like nobody should really argue with him.

Characteristic 6

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Is ING a narcissistic organization?

In this part of the paper the narcissistic symptoms, that are found for ING are discussed. In the theory part of chapter 2 there are 11 characteristics of the Godkin & Allcorn list shown that can indicate a narcissistic organisation. Every characteristic of this list that is found for ING is discussed below.

Characteristic 1

The first characteristic for which proof is found, is that the managements of ING is hiding from things happening to and in the company. The next example shows proof for this characteristic. In 2017 ING faced a trial for money laundering. Because of a failing control system ING allowed hundreds of millions of euros to flow into their banking system. ING ended up paying a fine of 775 million euros. Hamers himself did not get fined and was hiding behind his organization. He did not take responsibility for the bad situations that ING got in under his command. ING convinced the prosecution that no individuals could have been held accountable for this money laundering (Business insider, 2019).

Characteristic 2

Another characteristic from the Godkin and Allcorn list is that narcissistic organizations have great pride, and their leaders see few limitations to achieve success. This characteristic is found for ING. After the money laundering scandal ING received multiple warnings from the ministry that they could expect a fine in the near future for this money laundry. Despite these multiple warnings INGs pride was too large to stop spending money. So instead, ING raised the salary of Ralph Hamers with 50% (Business insider, 2018).

Characteristic 3

The predicted fine was no limitation to achieving their goal to keep their CEO satisfied. ING thought it would all blow over (Business insider, 2018). This action is also proof for feelings of entitlement. This is the third characteristic of the list that is found for ING. The ignorance of the fine ING could expect to receive became famous in all the media. ING basically

thought they had the right and entitlement to hide their damaged image and just move on with whatever they like. According to the supervisory board there was no case of money

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Characteristic 4

From these examples we can also see that ING is filtering the information they have, before they give it to their employees. Because if everybody would have all the information a lot of employees would not agree with the way ING is operating. This shows proof for the

characteristic Filtered information flows alter organizational reality and magical thinking is present.

Characteristic 5

The fifth and last characteristic of the Godkin and Allcorn list that is found is that there is a history of firings and demotions. Because ING wanted to start a digital revolution and raise the salary of their CEO, over 7000 employees were fired since 2016 (Financieel Dagblad, 2020).

To conclude chapter 2.2, we can say that for both Hamers and ING some narcissistic

characteristics are found. For Hamers 6 of the 9 narcissistic characteristics of the DSM IV list were found. This means that Hamers is a narcissistic CEO. Because of the symptoms he shows, Hamers can be best described as a grandiose narcissist. For ING 5 of the 11

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3. Hypotheses

The first set of hypotheses are about Ralph Hamers as a narcissistic CEO

Hypothesis 1a

H1: Hamers has a self-perception of being unique H0: Hamers does not exhibit this characteristic

Hypothesis 1b

H1: Hamers has an arrogant demeanour

H0: Hamers does not exhibit this characteristic

Hypothesis 1c

H1: Hamers has an unwillingness to empathize with the feelings of others H0: Hamers does not exhibit this characteristic

Hypothesis 1d

H1: Ralph Hamers is exploiting others to achieve personal gain H0: Hamers does not exhibit this characteristic

Hypothesis 1e

H1: Hamers has a need for continual admiration from others H0: Hamers does not exhibit this characteristic

Hypothesis 1f

H1: Hamers has an expectation of being treated in a superior way by others H0: Hamers does not exhibit this characteristic

The second set hypotheses are about ING as a narcissistic organization

Hypothesis 2a

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Hypothesis 2b

H1: ING has great pride, and their leaders see few limitations in achieving success H0: ING does not exhibit this characteristic

Hypothesis 2c

H1: ING has a feeling of entitlement

H0: ING does not exhibit this characteristic

Hypothesis 2d

H1: The management of ING is filtering information they receive from outside H0: ING does not exhibit this characteristic

Hypothesis 2e

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4. Research plan

In this part of the research paper the research plan is shown. The plan for this research will not be executed. The plan is developed under the assumption that both the CEO and the

organization are fully cooperating and paying for the research. The data collection will be executed by a market research company.

4.1 Sample

For the first and second set of hypotheses of this research paper the same population and sample size are used. The first set is about whether Ralph Hamers is showing narcissistic characteristics, this contains hypothesis 1a, 1b, 1c, 1d, 1e and 1f. For these hypotheses all narcissistic characteristics of Hamers that are found are related to the way Hamers treats his employees. So, the population of the research about these hypotheses are all the employees of ING, which are about 50,000 people. It is important that the answers to the questions that are asked to those employees stay anonymous, to ensure that the results are reliable (Evans & Mathur, 2005). According to Baruch & Holtom (2008) the average response rate is 52,7% for studies that collect data from individuals, so that is also what we can expect for this research. To make sure that all the groups in the population are represented homogenous groups need to be formed. From all these homogenous groups some employees need to be included in the sample (Trochim, 2020). In this way the research stays representative.

The second set of hypotheses is about ING showing characteristics of a narcissistic

organization. This includes the hypotheses 2a, 2b, 2c and 2d. To test this hypothesis again the employees of ING need to be asked about the narcissistic characteristics of their organization. The population for this research are all the employees of ING. This can be reduced to only the employees of ING in the Netherlands and Belgium, because all the incidents became most famous in these countries. But to make thing less complicated the same population size as in the first set of hypotheses is used.

4.2 Measurements and measures

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Questions that need to be asked. This test includes all questions that are needed to be asked in the survey. The NPI produces a narcissism scale on 7 dimensions of narcissism: authority, exhibitionism, superiority, entitlement, exploitativeness, self-sufficiency, and vanity. It provides a score for each dimension separately based on multiple items of narcissism, which can identify what kind of narcissist Ralph Hamers is. A correlation score higher than r=0.8 with a narcissistic characteristic indicates a high correlation score.

For hypothesis 2a, 2b, 2c, 2d and 2e some other questions need to be asked to the employees. These questions are asked with the help of the organizational narcissism score of Hamedoglu & Potas (2012). Which measures the narcissistic characteristics of ING according to the list of Godkin and Allcorn (2011). The test contains 5 dimensions: leadership and authority,

anticipation of recognition, grandiosity, self-admiration and exhibition. The 5 dimensions together contain 38 items that can form the organizational narcissism score when answered. These items are measured by factor loads, which indicate how high ING scores on this aspect. Finally, for every item a correlation coefficient is shown.

Using existing measurement methods has the advantage of proven reliability and validity, because it is used many times before in the past. They also have existing scores and

measurements, which prevents the research for having to make this up itself. The results of the survey should be sent back to the research company.

4.3 Research design

The research design is showed with the help of 2 tables. Table 1 shows the research design and the second table shows the steps taken in the research plan. In this research design all employees of ING receive the same survey, about both narcissistic characteristics of Hamers as ING. Research design Type of information collected Who is asked for information How is the information collected Where is the information collected When is the information collected

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Steps in research

Steps Choice

Step 1: Choose Population The population are all the employees of ING Step 2: Determine which questions should

be asked

Question are based on the hypotheses of chapter 3

Step 3: Choose measurement tool For this research a survey is used Step 4: Measurement method Hypothesis

1

To measure the DSM IV list, the NPI list of narcissistic symptoms is used

Step 4: Measurement method Hypothesis 2

To measure the list of Godkin & Allcorn the ONS list of Hamedoglu & Potas is used Step 5: Choose test for analysis The spearman rank correlation coefficient is

used to analyse the data

Step 6: Analyse Perform the test is SPSS, and analyse the data

Table 2: Steps of the research plan

4.4 Analysis

Descriptive statistics

To analyse the data that is gathered from the employees of ING, there is a test needed that measures the correlation of the narcissistic characteristics. The correct test to use to analyse both sets of hypotheses is a spearman rank correlation coefficient test. For the hypothesis 1 this correlation test determines whether there is a strong or weak correlation between the characteristic of a narcissistic leader and the 7 NPI dimensions. For hypothesis 2 the spearman rank correlation coefficient shows how strong the correlation is between the narcissistic characteristics of the organization ING, and the 5 dimensions of the organization narcissism score.

Inferential statistic

When the tests are performed there are conclusion that can be drawn. When the analyse finds a high correlation H0 can be rejected, which means that the finding of a narcissistic symptom is confirmed. So, this means that H1 is confirmed and Hamers or ING possesses this

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5. Analysis and discussion

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6. Conclusions and recommendations

6.1 Conclusions

In this part of the research paper the central research question is answered. The central research question in this paper is: Is ING’s CEO Ralph Hamers a narcistic leader and is ING

itself a narcissistic organization?

In this research there is some proof found that supports the central research question. The central research question consists of 2 parts. The first part is about Hamers being a narcissistic CEO, for which we found 6 of the 9 narcissistic characteristics of the DSM IV list. When a leader possesses at least 5 of the 9 narcissist symptoms, he is narcissistic. So, this means that Hamers is narcissistic according to the DSM IV list. Based on the symptoms that Hamers possesses, we can say that there are two types of narcissist that can be associated with

Hamers. Hamers is someone who is over confident, high in self-esteem and attention seeking, but also not willing to take criticism and lacking in true empathy. This are symptoms of a grandiose narcissist (Campbell et al., 2011). Hamers also shows characteristics of an

unrealistic dreamers, which is another type of narcissist. This type of narcissist is independent and not easily impressed. They are also innovators, driven in business to gain power and glory (Maccoby, 2000).

The second part of the research paper is about ING as a narcissistic organization. For this part there are 5 of the 11 characteristics of a narcissistic organization found. These 11

characteristics are made up out of theory of Godkin & Allcorn (2009). An organization is narcissistic if it possesses 7 or more criteria of this list. This means that ING is not necessarily a narcissistic organization.

For this research the research plan is not executed yet. So, there are no conclusive findings based on quantitative research.

6.2 Recommendations

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a few months it is less relevant to make decisions about what to do with him. However, results of this and of further research can be used to make choices about the next CEO.

6.3 Reflection

What’s strong about this paper is that there is proof found for the CRQ in multiple news articles from different media institutions. A lot of articles supporting the different

characteristics of narcissistic leaders and organizations for the Hamers and ING case. The hypotheses and the research plan that are made up are very connected to the central research question. This ensures that the research measures the right things, which makes sure the research is valid. The population of the research are all the employees of ING. These

employees are the right group to investigate, because they all possess some information about the way Hamers and ING are operating. Because we assume that ING is fully cooperating with this research there is no need for the employees to be scared to give their opinion. This makes the reliability of the research higher. The population for this research are 50.000 employees of ING. We expect that over 50% of the population will respond. This will make sure the representativeness of the research is sufficient.

What makes this research paper vulnerable is that it is possible that some writers of news articles that are used, are not objective in their opinion about Ralph Hamers. This can

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(https://conjointly.com/kb/probability-sampling/). March 13.

Case references:

Arjan Meesterburrie & Guus Ritzen, (2020), “ING-topman Ralph Hamers vertrekt naar UBS” retrieved from: (

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Ben Serrure, (2020) “De verguisde vernieuwer van ING verhuist naar Zwitserland” retrieved from: (

https://www.tijd.be/ondernemen/financiele-diensten-verzekeringen/de-verguisde-vernieuwer-van-ing-verhuist-naar-zwitserland/10210060.html). February 21.

Business insider, (2019). “ING-baas Ralph Hamers wordt mogelijk toch vervolgd om de witwasaffaire” retrieved from: (

https://www.businessinsider.nl/ralph-hamers-aangeklaagd-witwassen/). October 2.

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https://www.businessinsider.nl/groenlinks-wil-spoedwet-tegen-salarisverhoging-ing-topman-ralph-hamers/). March 11.

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https://fd.nl/ondernemen/1335501/verguisde-hamers-in-zwitserland-onthaald-als-grote-vernieuwer). February 20.

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(https://www.standaard.be/cnt/dmf20200220_04858129?articlehash=2A60409098FA0BA653

1D1C6ABE0DF0F11A07410074353112281B824126C812AE8284621DA651C77A3D0E10

F3BF6CC1A42F923EF1F78DFA5D8398335A81071ABB). February 21.

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Appendices

Appendix A: Organizational narcissism score

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