Presentation on theme: "Chapter 4 Personality and Values"— Presentation transcript:
1 Chapter 4 Personality and Values Stephen A. Schwarzman7 Billion Dollar Man, “King of Wall street”Grand 60th Birthday CelebrationSuccessful, Glamorous!
2 Narcissist Mr. Schwarzman wants! CEO of Blackstone Group Mission A financial advisory firmMissionInflict pain on rivalsKill off rivalsSuccessful, 5’6”Firing employeesNot wearing proper shoesSound of employee’s noseNarcissist
3 Personality shapes behavior What is Personality?The sum total of ways in which an individual reacts and interacts with others; measurable traits a person exhibits.“The dynamic organization within the individual of those psychophysical systems that determine his unique adjustment to his environment” Gordon AllportQuiet vs. aggressive people?Personality types vs. job types?Personality shapes behaviorPersonality TraitsEnduring characteristics that describe an individual’s behavior. E.g. shy, aggressive, submissive, lazy, loyal, timid
4 Measuring Personality Self-report surveysObserver-rating surveysProjective measuresMyers-Briggs Type IndicatorBig Five ModelRorschach Inkblot TestThematic Apperception TestInfluence of Psychometric TestsFor hiring …
5 Personality Determinants Heredity- GenesFactors determined at conception- biological, physiological and psychological makeupMolecular structure- genesIdentical twins (39/31 yrs, 45 miles)Smoke, car, dog, vacationsTwins on different household Vs. SiblingsEnvironmentParental environment!Situations (Experience)!Change in Rank OrderingDependabilitySmartness
6 Measuring Personality- Tests Tests are goodHiring decisionsManaging decisions (understand, manage)“I worry a lot about the future”Problems- AccuracyLie “Fake good”Impression managementIndividual Rating Vs. Observer RatingBad mood during testIdentifying primary traitsShy, aggressive, submissive, lazy, ambitious, loyal, timid, … … …
7 The Myers-Briggs Type Indicator MBTI- A personality test that taps four characteristics and classifies people into 1 of 16 personality types.100 QuestionHow people feel or act in certain situations
8 MBTI- Personality Types Extroverted vs. Introverted (E or I)Social Vs. ShySensing vs. Intuitive (S or N)Detail (routine) Vs. Big Picture (unconscious process)Thinking vs. Feeling (T or F)Logic Vs. P. Value/emotionsJudging vs. Perceiving (P or J)Control/Order Vs. Flexible/SpontaneousIndicator
9 MBTI IndicatorCan be a valuable tool for self-awareness and career guidance BUT Should not be used as a selection tool because it has not been related to job performance!INTJVisionariesOriginal mind with drive for own ideas and purposeSkeptical, critical, independent, determined, stubbornESTJOrganizersRealistic, logical, analytical, decisiveENTPConceptualizeInnovative, Individualistic, Versatile, EntrepreneurChallenging problem Vs. RoutineNTAppleFedEx (Frederick W. Smith)HondaMicrosoftSony (Akio Morita)What is your type
10 IA-C4 Do an MBTI test. Analyze the result and explain your career choice with respect to the test.Due June 22nd
11 Big Five Personality Model … Five basic DimensionMajor DimensionsEncompasses most variationsothers underlieResearch support
12 The Big Five Model-Personality Dimensions ExtroversionComfort level with relationshipSociable, gregarious, and assertive Vs. reserved, timid, and quietAgreeablenessCooperative, warm, trusting Vs cold, disagreeable, antagonisticConscientiousness/ReliabilityResponsible, dependable, persistent, and organized Vs. opposite!Emotional StabilityNeuroticism (craziness)Calm, self-confident, secure under stress (positive), Vs. nervous, depressed, and insecure under stress (negative).Openness to ExperienceRange of interest with noveltyCurious, imaginative, artistic, and sensitive Vs. routine (familiarity)The Big Five Model-Personality Dimensions
13 Organizational impact Employee traitsRelationship with Job PerformanceConscientiousnessHigher skill levelEmotional StabilityJob SatisfactionGood decisions on bad mood!ExtrovertSocially DominantLeadersImpulsiveDependableReliableCarefulThoroughPlannerOrganizedHardworkingPersistentAchievement-orientedExhibit4-2/4.4Job Performance
14 Other Major Personality Attributes In Organizations Core Self-evaluationMachiavellianismNarcissismSelf-monitoringRisk takingType A vs. Type B personalityProactive Personality
15 Core Self-Evaluation: Components Individuals’ degree of liking or disliking themselves.Find themselves capable and effectiveFeel control over environmentSelf EsteemLocus of ControlThe degree to which people believe they are masters of their own fate.PositiveNegativeJob SatisfactionChallenge in jobsAttain more complex jobsJob PerformanceAmbitious goalsCommitmentPersistenceInsurance AgentsInternalsIndividuals- control what happens to them.ExternalsIndividuals- controlled by outside forces such as luck or chance.Too Positive
16 Machiavellianism (Mach) Degree to which an individual is pragmatic, maintains emotional distance, and believes that ends can justify means.Strive for PowerMachsManipulatesWinsPersuaded lessPersuades moreConditions Favoring High MachsDirect interaction with othersMinimal rules and regulationsEmotions distract for others
18 Narcissism A Narcissistic Person MirrorA Narcissistic PersonHas grandiose sense of self-importanceRequires excessive admirationHas a sense of entitlementTends to be rated as less effectiveIs arrogantSelfishExploitiveLeaders !How bad is it?Views of others
19 NarcissismIn adults, a reasonable amount of healthy narcissism allows the individual's perception of his needs to be balanced in relation to others.Healthy narcissism is the feeling of greatness. This is used to avoid feelings of inadequacy or insignificance.
20 Self-Monitoring An individual’s ability to adjust his or her behavior to external, situational factors.I am true to myself- I do not remake myself to please othersHigh Self-MonitorsReceive better performance ratingsLikely to emerge as leadersShow less commitment to their organizationsI monitor behavior of my customer and conform accordingly!
21 Risk-Taking High Risk-taking Managers Low Risk-taking Managers Mr. Trump1980 ~ Rise1994 ~ -850 M2007 ~ +2.9 BHigh Risk-taking ManagersMake quicker decisionsUse less information to make decisionsOperate in smaller and more entrepreneurial organizationsLow Risk-taking ManagersAre slower to make decisionsRequire more information before making decisionsExist in larger organizations with stable environmentsRisk PropensityAligning managers’ risk-taking propensity to job requirements should be beneficial to organizations.Are you going to take risk?Stock Market Vs.GrameenPhone
22 Personality Types- A & B Type A’s ~ CompetitiveAlways moving, walking, and eating rapidlyFeel impatient with the rate at which most events take placeStrive to think or do two or more things at onceCannot cope with leisure timeObsessed with numbers, measuring their success ….Type B’s ~ Rarely HurriedNever suffer from a sense of time urgency/impatienceFeel no need to display/discuss their achievementsPlay for fun and relaxation, rather than to exhibit their superiority at any costCan relax without guiltStressQuantity o workBehavior Prediction
23 Proactive Personality Identifies opportunities, shows initiative, takes action, and perseveres until meaningful change occurs.Creates positive change in the environment, regardless or even in spite of constraints or obstacles.
24 Chapter Check-Up: Personality Which of the following is not a typical personality trait considered to be organizationally relevant?Locus of controlSelf-monitoringSelf-enhancingSelf esteemMachiavellianism
25 Example- PersonalityAsifa arrives to class and realizes that she’s forgotten her homework to turn in. She says “It’s just not my lucky day today.” Asifa hasAsifa has a high external locus of control. Asifa believes that things outside of her control determine what happens.If Asifa works on a team with you, and you have a very high internal locus of control, what kinds of discussions do you think the two of you might have?
26 A Example- Personality Hanifa is known for being a go-getter. She never leaves a task incomplete, and is involved in a number of activities. Moreover, she’s at the top of her class. She’s so busy that sometimes, she forgets to stop and eat lunch. Hanifa can be easily characterized as someone that has/is a Type ____ Personality.A
27 Example- Personality Hanifa is also likely to not be very Happy? Fun? Creative?Stressed?In general, Type A’s are rarely creative because they generally don’t allocate the necessary time for new solution development; they usually rely on past experiences to solve problems in order to be speedy.
29 Values Mode of conduct or end state of existence Value System: is personally or socially preferable vs. not pref.What is right & goodValue System:A hierarchy based on a ranking of an individual’s values in terms of their intensity.Fluid and Flexible Vs.Stable and EnduringGray AreasTypes of Values- Rokeach Value Survey (RVS)
30 Allocation of pay per Performance Vs. Seniority Importance of ValuesProvide understanding of individuals (cultures )attitudes,motivation, andbehaviors ofInfluence our perception of the world around usRepresent interpretations of “right”, “wrong” and preferenceSome behaviors or outcomes are preferred over others.Allocation of pay per Performance Vs. Seniority
31 Values in theRokeach SurveyDesirable end-states of existence; the goals that a person would like to achieve during his or her lifetime.E
32 means of achieving one’s terminal values. Values in theRokeach SurveyPreferable modes ofbehavior ormeans of achieving one’s terminal values.E
33 Mean Value Ranking (RVS) E12/U13E14/U14Mean Value Ranking (RVS)Varies across group- People in similar occupation/categories ….Negotiation !
34 Values, Loyalty, and Ethical Behavior Ethical Values and Behaviors of LeadersEthical Climate in the Organization
35 Generational (Work) Values Value changes over generationWork values- Exhibit 4.10Nexters !High ExpectationSeek meaning in their workGoal- Rich and famousQuestioning, socially conscious, enterprenueal
36 Achieving Person-Job Fit Personality matches JobPersonality and values matches organizationFlexibility vs. abilityPersonality-Job Fit Theory (Holland)Identifies six personality types and proposes that the fit between personality type and occupational environment determines satisfaction and turnover.Personality TypesRealisticInvestigativeSocialConventionalEnterprisingArtistic
37 Create a personality profile Holland’s Typology
38 Relationship. Compatibility among categories. Satisfaction Relationship * Compatibility among categories * Satisfaction ** Realistic person in social job
39 Person-organization fit Organizational Culture Profile (OCP) is useful for determining person-organization fitSurvey that forces choices/rankings of one’s personal valuesHelpful for identifying most important values to look for in an organization (in efforts to create a good fit)Result >> Job Satisfaction, Org. Commitment, Low Turnover
40 Values across Cultures: Hofstede’s Framework Power DistanceIndividualism vs. CollectivismMasculinity vs. FemininityUncertainty AvoidanceLong-term and Short-term orientationBig FiveHofstede’s Framework for accessing culture
41 Hofstede’s Framework (cont’d) Power DistanceThe extent to which a society accepts that power in institutions and organizations is distributed unequally.Low distanceRelatively equal power between those with status/wealth and those without status/wealthHigh distanceExtremely unequal power distribution between those with status/wealth and those without status/wealth
42 Hofstede’s Framework (cont’d) IndividualismThe degree to which people prefer to act as individuals rather than a member of groups.CollectivismA tight social framework in which people expect others in groups of which they are a part to look after them and protect them.Vs.
43 Hofstede’s Framework (cont’d) MasculinityThe extent to which the society values work roles of achievement, power, and control, and where assertiveness and materialism are also valued.Vs.FemininityThe extent to which there is little differentiation between roles for men and women.Separate Roles
44 Hofstede’s Framework (cont’d) Uncertainty AvoidanceThe extent to which a society feels threatened by uncertain and ambiguous situations and tries to avoid them.High Uncertainty Avoidance: Society does not like ambiguous situations & tries to avoid them.Low Uncertainty Avoidance: Society does not mind ambiguous situations & embraces them.
45 Hofstede’s Framework (cont’d) Long-term OrientationA national culture attribute that emphasizes the future, thrift, and persistence.Vs.Short-term OrientationA national culture attribute that emphasizes the present and the here and now.
46 Exhibit XXX Hofstede’s Cultural Values by Nation Bangladesh
47 Chapter Check-Up: Values In Country J most of the top management team meets employees at the local diner for a dinner on Fridays, and there are no reserved parking spaces. Everyone is on a first name basis with each other. Country J, according to Hofstede’s Framework, is probably low on what dimension?CollectivismLong Term OrientationUncertainty AvoidancePower DistanceHow would a College or University in Country J differ from your College or University? Identify 3 differences and discuss with a neighbor.
48 G-C4 Due 24th (GW= Higher quality work) Case: Rise of a nice CEO G-C4 Due 24th (GW= Higher quality work) Case: Rise of a nice CEO? P: 2, 4, 5 Nothing Individual