Thomas Farrow Hubris

Decent Essays
In 1891 Thomas Farrow was a political secretary Robert Yerburgh, who was the President of the Agricultural Banks Association (Hollow, 2015). During his time as secretary he wrote a book called “The Moneylender Unmasked” (1895). Farrow’s book criticized those in government and the judicial system, who allowed the mismanagement of money to even take place. He provided proof of past incidences and people were very enthralled with his study.
Culture, leadership, power, and motivation May of 1904, Farrow made the decision that he would create his own bank. Farrow had such a successful book and being a secretary in the industry curated his success. Farrows bank was under the “Friendly Societies Act of 1904,” which meant that he could appoint
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The Hubris phenomenon usually occurs after a person encounters multiple successes. Many managers with this syndrome will begin to make irrational decisions. They will not consider the counsel of their colleagues. Richard Roll (1984) was the first to coin this term “hubris” describing that CEO’s “over evaluate assets,” which leads to the downfall of their empire (Howell,…show more content…
Thomas Farrow in the beginning had an idea of providing an ethical business culture. Farrow became so engrossed in being perfect that he created a false reality, to others and himself. As the company began to go south he pleaded all the way to the court that he did everything correct; and if he had more time he could change everything around. If Farrow did everything correct managerial hubris could possibly set in. It is possible that he could have felt that he was unstoppable and successful enough that he did not need those around him telling him what to do. It’s possible that he could be humble about his success, but in an industry revolved around money, people lose who they are, making greed and power the common
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