Ethical Decision Making In Wells Fargo

The issue of ethical decision making has become more important in recent years for a variety of reasons. An understanding of ethical decision making in organizations is more significant to the development of organizational science. Managers engage in decision-making behavior affecting the lives and well-being of others. The individual responds to an ethical dilemma with cognitions determined by his or her cognitive moral development stage.

In order to make ethical decisions, it is helpful to think about several questions, including: 1) who will be impacted by the decision, 2) who will benefit from the decision, and 3) who will suffer from the decision.

Individual ethics are important in decision-making within the health care industry. One of the main reasons for that is because often ethical dilemmas occur at lower decision-making levels, and this means that the decision is being made by one person, facing a difficult situation that must be resolved quickly. Another reason that individual ethics are important in health care is that often a manager is unaware that there is an ethical dilemma. Thus, by failing to recognize the ethical dilemma, the manager is resolving the dilemma by his or her actions without realizing that an ethical decision is being made (Mintz, 2011). This very much puts the individual's ethical compass at the center of the decision, because the default decision is the one that is being made, regardless of the ethical implications. If the person is generally ethical, the decision will probably be the right one; if the person lacks ethical standards, the decision could be very poor as result.

Ethical dilemma is the concept of a complex situation where there is no apparent answer or there are two competing solutions (Winch). It is unlikely that one will achieve the correct answer in an ethical dilemma as the answer will vary due to several factors influencing the person’s reasoning. Factors such as culture, environment, education, family, religion, age, gender, media outlets, etc. can influence someone’s point of view in an ethical dilemma. The case study, “Bankruptcy at the Philadelphia Inquirer” represents a dilemma with no clear or apparent answer.

(1)Most adults can certainly agree that they hate bank fees. Even worse than paying bank fees, is paying a fee on a ghost account you did not know existed. Wells Fargo is a successful American International Financial Institution, but in recent years have been involved in a scandal that has hurt their reputation.

A proliferation of headlines abounds regarding leaders and questionable ethical behavior. Examples in both public and private sector are easy to find. In business, one can look at the Wells Fargo scandal where employees fraudulently opened customer accounts to achieve management sales quotas and the case of Mylan Pharmaceuticals price gouging of the EpiPen as examples of unethical behavior. A quick open of the New York Times and you can read editorials on the Trump Administration and his use of the White House for personal gain, disregard for the anti-nepotism law and questionable associations and political appointments of persons such as Scott Gottlieb, Carl Ichan, and Steve Bannon. Governor Robert Bently of Alabama is currently being investigated

According to an article on www.housingwire.com, 2017, Wells Fargo CEO, Tim Sloan, made the decision to close over 400 branches in the United States. The fake account scandal fueled this decision because the company lost 746 million dollars in revenue. The closures can save Wells Fargo about 2 billion dollars by the end of

Recognizing that not all decisions are ethical, one’s moral principles acts as a guide for their behavior and decision making. Therefore, ethics do (and should) play a major role in decision making.

Wells Fargo is facing moral challenges in its 164-year history. Crisis experts identified that the unethical issue conducted by the company’s employees might be the sign of poisonous business culture. Apparently, any ethical misconduct must be solved and the company must restore its integrity to gain back their customers’ trust. The recommendations that result from observation based on the million phony accounts created by Wells Fargo’s employees are:

Ethical is a word used to describe moral principles. While watching the movie Erin Brockovich, I was compelled by the unethical issues that presented themselves. These incidents were created by an decision that proved to be immoral. The movie displays several incidents in which unethical behavior is presented. While reading this paper, several unethical situations will be reviewed. Although Erin Brockovich intentions may have been for the greater good, several of the methods she used to gain information were immoral. She discovers the shocking secrets of Pacific Gas & Electric Company.

The ethical decision making process is based on moral rules and unchanging principles that are derived from reason and can be applied universally. These universal rules and principles must be considered separate from the consequences or the facts of a particular situation. (McWay, 2014). Health care workers face ethical issues and have to use the ethical decision making process to determine what is best for their patients.

Making consistently ethical decisions is difficult. Most decisions have to be made in the context of economic, professional and social pressures, which can sometimes challenge our ethical goals and conceal or confuse the moral issues. In addition, making ethical choices is complex because in many situations there are a multitude of competing interests and values. Other times, crucial facts are unknown or ambiguous. Since many actions are likely to benefit some people at the expense of others, the decision maker must prioritize competing moral claims and must be proficient at predicting the likely consequences of various choices. An ethical person often chooses to do more than the law requires and less than the law allows.

The concept of power is an applicable leadership concept. Leaders use power to decipher whether they have the ability to acquire the commitment or obedience from their workers/officers. Leaders that are educated or trained under the old-paradigm, have low levels of expectations of others around them, and tend to use

This paper intends to define operations management and analyze an ethics decision made by operations managers in the workplace or in a known organization.

Nurses often encountered various ethical dilemmas in the practice setting. Both virtue ethics and caring ethics support good ethical decision making for nurses (Park, 2012, p. 149) but these are inadequate to assist in solving an ethical dilemma (Park, 2012, p. 149). For that reason an ethical decision making tool is helpful for the nurses or clinicians to come up with an ethical decision (Kelly, 2012, p. 571) that allows them to gather information, identify any gap of understanding on the issue or the disagreements between the involved parties through a clear communication (Park, 2012, p. 140). Several authors presented an ethical decision making processes (Park, 2012, p. 141), here presented the two processes that can be applied in resolving an ethical dilemma. One example of ethical decision making process is the DECIDE model by Thompson, Melia & Boyd (Allen, Chapman, Francis, & O’Connor, 2008, p. 5) and the Integrated ethical decision-making model which was derived from the combination of the different ethical decision-making models strengths (Park, 2012, p. 140). These two ethical decision-making model steps are identical to each but differ on the detailed instruction on how the steps are to be done or used in actual case. By comparing the two models the integrated ethical decision-making model have a detailed instruction. The