{"id":6675,"date":"2020-11-15T08:42:58","date_gmt":"2020-11-15T08:42:58","guid":{"rendered":"http:\/\/onlineclassesguru.com\/?p=6675"},"modified":"2020-11-15T08:42:58","modified_gmt":"2020-11-15T08:42:58","slug":"wells-fargo-banking-scandal-case-study-questions","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2020\/11\/15\/wells-fargo-banking-scandal-case-study-questions\/","title":{"rendered":"Wells Fargo Banking Scandal case study questions"},"content":{"rendered":"<style type=\"text\/css\"><\/style><p>Read Wells Fargo Banking Scandal and complete the questions at the end of the case study.<\/p>\n<p>Requirements:<br \/>\n1. Your assignment should be written in APA style format.<br \/>\n2. Double spaced with 12-point Times New Roman font and make sure to use headings.<br \/>\n3. Please answer all the questions at the end of Case Study in not less than 2 pages.<br \/>\n4. Separate title and reference page.<\/p>\n<p>Why culture matters<\/p>\n<p>This case was updated in July of 2018.<br \/>\nWells Fargo was the darling of the banking industry, with some of the highest returns on equity in the sector and a soaring stock price. Top management touted the company\u2019s lead in \u2018cross-selling\u0080\u009d: the sale of additional products to existing customers. \u2018Eight is great,\u2019 as in eight Wells Fargo products for every customer, was CEO John Stumpf\u2019s mantra.<br \/>\nIn September 2016, Wells Fargo announced that it was paying $185 million in fines for the creation of over 2 million unauthorized customer accounts. \u00a0It soon came to light that the pressure on employees to hit sales quotas was immense: hourly tracking, pressure from supervisors to engage in unethical behavior, and a compensation system based heavily on bonuses.<br \/>\nWells Fargo also confirmed that it had fired over 5,300 employees over the past few years related to shady sales practices. CEO John Stumpf claimed that the scandal was the result of a few bad apples who did not honor the company\u2019s values and that there were no incentives to commit unethical behavior. The board initially stood behind the CEO but soon after received his resignation and \u2018clawed back\u2019 millions of dollars in his compensation.<br \/>\nFurther reporting found more troubling information. Many employees had quit under the immense pressure to engage in unethical sales practices, and some were even fired for reporting misconduct through the company\u2019s ethics hotline. Senior leadership was aware of these aggressive sales practices as far back as 2004, with incidents as far back as 2002 identified.<br \/>\nThe Board of Directors commissioned an independent investigation that identified cultural, structural, and leadership issues as root causes of the improper sales practices. The report cites: the wayward sales culture and performance management system; the decentralized corporate structure that gave too much autonomy to the division\u2019s leaders; and the unwillingness of leadership to evaluate the sales model, given its longtime success for the company.<br \/>\nGeneral Discussion Questions<\/p>\n<p>What should business leaders take away from this scandal?<br \/>\nWhat could Wells Fargo have done differently to avert this cultural meltdown?<\/p>\n<p>Practice of Ethical Leadership Questions<\/p>\n<p>Modeling Character and Values: \u00a0What values did Stumpf model to Wells Fargo employees? \u00a0What impact might that have on the culture of Wells Fargo?<br \/>\nEncouraging Ethical Conduct: \u00a0What behaviors can leaders model in order to encourage ethical behavior in their organization?<br \/>\nDesigning Ethical Systems: \u00a0Wells Fargo did have some systems in place, like the ethics hotline, to report unethical behavior, but it didn\u2019t work. \u00a0Why do you think that is? What steps can leaders take to design systems that encourage ethical behavior rather than unethical behavior?<\/p>\n<p><center><a href=\"http:\/\/onlineclassesguru.com\/orders\/ordernow\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcTyj99p60XCLyLk1htB7-1neRt8-2QdnenNlQ&usqp=CAU\"target=\"_http:\/\/onlineclassesguru.com\/orders\/ordernow\"\/><\/center><p>","protected":false},"excerpt":{"rendered":"<p>Read Wells Fargo Banking Scandal and complete the questions at the end of the case study. Requirements: 1. Your assignment should be written in APA style format. 2. Double spaced with 12-point Times New Roman font and make sure to use headings. 3. Please answer all the questions at the end of Case Study in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6675","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wells Fargo Banking Scandal case study questions - onlineclassesguru<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/onlineclassesguru.com\/index.php\/2020\/11\/15\/wells-fargo-banking-scandal-case-study-questions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wells Fargo Banking Scandal case study questions - onlineclassesguru\" \/>\n<meta property=\"og:description\" content=\"Read Wells Fargo Banking Scandal and complete the questions at the end of the case study. 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