Discover business models employed by psychopath Narcissistic Entrepreneurs among Minnellies: Should you call for a research?
Today’s world economy is consecrated with the young millionaires and their endless endeavours that influence a transition of a new revolutionized innovative edge (for example see http://www.fastcoexist.com/), where business differentiation through ‘abstract competitive advantage’ has become imperative. In other words, it can be said that the young and creative blood of entrepreneurship leads the world, organizations have become flat, distance among the authorities have declined, societal need for job security has diminished and the feeling of independence and authoritative need for empowerment has risen drastically over the last few years. Young people constantly seek for ways to be independent and the quench to find a job for safety purposes have declined. On the other hand, internet and the new form of funding facilities such as crowed funding, angel investment, and venture capitalism have deceased the barriers of starting a new venture and hence, such aspects have helped to promote the mentality of ‘being the own boss is much better than being monitored by others, working for my own pleasure is better than working for someone else’s needs’, and most importantly this transition of mentality among the 90’s children or minnelies (current young generation that lead the world) has moved the world towards an ‘ever flattering innovative edge’.
However, on the other hand, many psychologists argue that such mentality transition has led to a state where most of the young successful entrepreneurs have become socio-paths, which denotes Narcissistic Personality Disorder (Austin, 2013). A narcissist is someone who only love themselves, manipulate based on the context, and crave for perfectionism. Although, some psychologists such as Dr. Sam Vaknin who constantly write about narcissism argue that narcissists love themselves, others demonstrate narcissists as those who perceive themselves as their ‘ideal self (what they want to become)’ and crave for perfectionism at all the tasks they perform. On the other hand, they lack empathy for others and are in a constant need for attention from others. Further, they mirror others’ good characteristics, see and use others as objects for their own improvement. Simply, their unhealed inner child seeks parental attention and care from their narcissistic supplies (the people who give attention to them). Vulnerable narcissists crave for perfectionism, and blame themselves for their faults, while the malignant narcissists tend to have arrogant behaviours towards all others who refuse to pay narcissistic supply to them (attention both positive and negative).
Further, magical thinking patterns influenced by the increased trend of LOA (Law of Attraction) among the youth in the industrialized economies further stimulate this socio-pathism among them. Narcissists are regarded as ‘spiritual abusers’ and ‘dark energy vampires’ by the psychologists and however, in the business world narcissists are regarded to be good leaders and entrepreneurs. In an analytical view, it can be said that narcissism massively influences the quench for entrepreneurship and on the other hand, craving for entrepreneurship, perfectionism, massive success, and constant innovation have spread the poison of narcissism among young people. Some see it as a healthy indicator from the viewpoint of unlimited innovation, business success, and entrepreneurial achievements, while in fact; it denotes a social disaster to a generation that consists of more socio-paths/psychopaths.
Several studies in the past have revealed the shift in the source of economic growth and innovation toward the entrepreneurship and small business sector due to the development of new and small firms and a corresponding decline in conglomeration and concentration started in the 1970s. Media industry did undergo this change influenced by the innovation performance by the entrepreneurs. It has been well proved that entrepreneurship has played an important role in the media industry growth and innovation throughout its history, because as Schumpeter best emphasized ‘entrepreneurship causes innovation’. More than any other industry, media industry is subject to tremendous influence from entrepreneurial innovation as entrepreneurship is a major component of the media industry. It is in this conceptual context that Hoag and Seo define the media entrepreneurship as “the creation and It has been well proved that entrepreneurship has played an important role in the media industry growth and innovation throughout its history, because as Schumpeter best emphasized ‘entrepreneurship causes innovation’.
Earlier, media entrepreneurship did not have much significance; however nowadays media entrepreneurship has become a new trend due to the massive influence of digital media platforms such as podcasting, blogging, and contemporary mechanisms. Although psychologists such as Dr. Sam Vaknin argue, narcissism as a social disaster, the impacts of narcissim on business achievement remains to be an untouched area. Therefore, it becomes imperative to research on this subject and it would be very innovative and help to discover innovative and unique means of business differentiation, strategies, and revenue models that are being employed by the stakeholders of the entrepreneurship world from different perspectives. It also becomes essential to catch-up on variables such as discriminative, cost cutting, and ‘I am the only man’ strategies that may be employed by the narcissistic bosses as to the facts concluded by popular psychologists in this field such as Dr.Sam Vaknin. In this premise, it becomes imperative of an interdisciplinary undertaking, drawing from the fields of business management, social science and psychology. Such an interdisciplinary approach involving these disciplines regarding the entrepreneurial performance of media industry will be an important contribution to the literature of economic, managerial and social conditions within which media organisations and industries operate. On the other hand, this kind of interdisciplinary research concerning the media industry is extremely important, because media is a powerful social institution and considered to be the fourth pillar of democracy. In this premise, the studies on the business models and strategies of narcissist-entrepreneurs among minnellies in media entrepreneurship carry enormous social value and importance. Given the increased tendency of entrepreneurial media industry such interdisciplinary research is absolutely necessary within the context of social responsibility.