The Wolf of Wall Street Presentation By: Michael Counihan, Abdulaziz Alsuhaim, Ana Tineo, Nancy Chang, & Jessica Young

Agenda Introduction Leadership Leaders’ Influence on Employees Organizational Culture Final Recommendations Questions

Introduction 180 minn thrill ride through the life of Jordan Belfort Jordan and his brokerage firm, Stratton Oakmont, took Wall Street and the American Financial System by storm Eventually, Jordan was indicted, and found guilty of stock manipulation and money laundering

Leadership Meet Jordan Belfort and Donnie Azoff

The Inner Workings of Mr. Belfort Jordan’s drive McClelland’s Theory of Needs Need for Achievement Need for Power Machiavellianism

Cogs in Jordan’s Money Making Machine *Video contains explicit language Customers were manipulated by Jordan and persuaded to do

Jordan’s Band of Misfits Jordan lead by example Live outside their means Focus on money Meeting the standards set in place by Stratton Oakmont

Leaders’ Influence on Employees Makers of their own destiny Through his expertise they could live “rich life”. Employees joined Stratton and took on large sums of debt to buy cars, clothes Jordan’s manipulative management style pushed employees to be type A personality competitive, impatient, and aggressive

Steve Madden IPO *Video contains explicit Language

Leaders’ Influence on Perception Jordan’s management style shaped employee perceptions of themselves Employees deemed themselves much more important in their new office locations Was able to change employee perceptions of self worth by transforming employees from average salesmen to potential CEO’s Had his employees suit up in order to change their perceptions of their jobs. He even allowed tailors to come to the office

Organizational Culture Overview Strong Culture: Ambition and money obsession Organizational Climate Rituals: entertainment Rewards refers to a system of shared meaning held by members that distinguish the organization from other organizations”

Job Satisfaction Secretary shaves her head for $10,000 at the celebration party ○ Effective leadership ○ Supreme Power ○ Faith and Trust

Secretary shaved head

Devotion Jordans resignation speech Employees discontentment Strong emotions evidenced Euphoric Celebration

Final Recommendations Establish Board of Directors Minimize Jordan’s control Unlikely

References Sharif, M., & Scandura, T. (2013). Do Perceptions of Ethical Conduct Matter During Organizational Change? Ethical Leadership and Employee Involvement. Journal of Business Ethics, Volume 124(2), P 185-196. Retrieved October 1, 2014, from http://web.a.ebscohost.com.ezproxy.neu.edu/bsi/command/detail?vid=24&sid=98293d65-3066-4fe8-bf0a-57c616035fd5@sessionmgr4001&hid=4209&bdata=JnNpdGU9YnNpLWxpdmU=#db=bth&AN=98581374 Lalich, J. (2004). Watch Your Culture. Harvard Business Review, Volume 82(1). Retrieved October 1, 2014, from http://web.a.ebscohost.com.ezproxy.neu.edu/bsi/detail/detail?sid=98293d65-3066-4fe8-bf0a-57c616035fd5@sessionmgr4001&vid=48&hid=4209&bdata=JnNpdGU9YnNpLWxpdmU=#db=bth&AN=11802236 Chin, S., & Chi, C. (2014). The Effects of Ethical Leadership and Ethical Climate on Employee Ethical Behavior in the International Port Context. Journal of Business Ethics, Volume 124(2), P 209-223. Retrieved October 1, 2014, from from http://web.a.ebscohost.com.ezproxy.neu.edu/bsi/command/detail?vid=5&sid=aedb746f-d66d-4ac2-ac49-ca3243f0b572%40sessionmgr4003&hid=4209&bdata=JnNpdGU9YnNpLWxpdmU%3d#db=bth&AN=98581375 Berson, Y., & Halevy, N. (2014). Hierarchy, Leadership, and Construal Fit. Journal of Experimental Psychology. Applied., Volume 20(3), P 232-246. Retrieved October 1, 2014, from http://web.a.ebscohost.com.ezproxy.neu.edu/bsi/detail/detail?sid=98293d65-3066-4fe8-bf0a-57c616035fd5@sessionmgr4001&vid=122&hid=4209&bdata=JnNpdGU9YnNpLWxpdmU=#db=bth&AN=98134981

The End Thank you Questions?