Operations Management Essay

Using Constant Table, we find the value of A2 for Subgroup of n=6 as A2 = 0.483

Even as the scandal broke, Wells Fargo continued to state that they were committed to putting their customers first (Merle, 2016). This was much the same rhetoric as their list of declared ethics statements, such as “be accountable for, and proud of, our conduct and our decisions”, and “comply with the letter and the spirit of the law” (Ferrell, Fraedrich, & Ferrell, L. 2013). In this case, they did neither. If the upper management does not consistently and continually exhibit the leadership insisting on ethical behavior, employees run amok. Another direct conflict with their stated value of “acknowledge and apologize for our mistakes, and learn from our errors so we don’t make them again” was the way in which they accepted responsibility for the fraud, but did not actually admit illegal behavior (CNN Wire, 2016). However, they did reevaluate the decentralized system.

On September 8th, Wells Fargo’s misconduct was exposed when the Los Angeles City Attorney, the Consumer Financial Protection Bureau (CFPB), and the Office of the Comptroller of the Currency (OCC) fined the bank $185 million, alleging that more than 2 million bank accounts and credit cards were opened or applied for without customers' knowledge or permission between May 2011 and July 2015. In response, Wells Fargo fired 5,300 employees and, in an official statement, expressed their regret over the actions those employees had taken in regards to their customers. Wells Fargo also announced that it would be ending its controversial employee sales goals program. Wells Fargo’s employees sales goals program was an incentive-driven compensation program where employees earned financial awards based on the number of financial products they could sell, all under the pressure of satisfying exorbitant sales goals set by the upper management at Wells Fargo.

There was a dismissal of 5,300 employees and $185 million in fines against Wells Fargo (Stewart, 2017). The bank’s pressure-cooker sales environment made a toxic sales culture. Wells Fargo held unrealistic sale quotas to its employees and held policies that drove employees to participate in illegal behaviors to meet unreachable goals. Employees opened millions of unauthorized credit cards and deposit accounts, fees and other charges were racked up, money was transferred from customers’ accounts without their knowledge and their permission, they also created phony email addresses to enroll customers in online banking services, all to hit sale targets and receive bonuses. Employees who called attention to the abusive, fraudulent behaviors were ignored and wrongfully terminated and retaliated

The economic responsibilities Bank of America has regarding this case is to provide exceptional service for investors and give returns on their investments while maintaining strategic decisions pertaining to its values. Legal responsibilities include adhering to all laws and regulations which include environmental and consumer laws. Daniel Rivas failed to honor Bank of America's code of ethics by initiating illegal acts of tipping and trading information about corporate mergers, investments, and small offers.

1. What recommendations would you make to John Wolf with respect to structuring the supplier relationship process for the Wolf Motors dealership network?

The ethics of the bank requires that there is ethics of integrity. It is supposed to be created through a culture in the bank and it should be one of the banks priorities because this is a business and they gain the profits from the people they serve on daily basis. Even if the bank shall survive this wave of scandal is so difficult now to convince any client to join this Wells Fargo which shall cause them a lot of money. Also all the old customers may start withdrawing and looking for other banks which they feel are more secure when they are keeping the money for them. It is so hurting and distrustful for a banking instead of accruing money in the accounts of their customers what they wells was doing was that it was misusing their money and giving them extra fees.

Wells Fargo is a well known banking company that has recently been in the news for some not-so-good reasons. The Wells Fargo company has been around for a long time and is trusted by their many customers to treat them fairly when it comes to opening new accounts or managing current accounts. However, according to some of Wells Fargo’s team members (what they call their employees), Wells Fargo has “strict mandates to sign existing customers up for additional products,” (Davidson 1). This means that they want their customers to open new accounts, get new credit cards, transfer a 401(k), and/or take out a mortgage. Since most customers refuse to do so, some of the employees thought that they should go ahead and open new accounts without the customers’ consent. This later back fired when the customers received late notices on payments for the accounts they did not agree to open and did not know they had. Similar actions were happening at Wells Fargo banks

Wells Fargo fired 5300 employees. The employees took millions in fees by regularly opening new

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

1. It has been said that forecasting using exponential smoothing is like driving a car by looking in the rear-view mirror. What are the conditions that would have to exist for driving a car that are analogous to the assumptions made when using exponential smoothing?

Bank of America acquired Merrill Lynch in 2008. There were challenges that followed the acquisition. The following paper is an analysis of some of the challenges that transpired at the time. There is the statement of the problem and a proposition on how the management can handle it. The paper then outlines what could have caused the problem and goes ahead to give solutions to those problems. There are the recommendations of how to permanently solve those problems at the end of the paper (Grant, 2016).

Operations Management is the management of the process that transforms raw materials into goods and services. It is a never ending cycle that deals with the design and management of products, services, processes and supply chains. It also takes into consideration the procurement, development, and usage of resources that industries need to deliver those final goods and services to their clients.

You have been hired as director of an important five stars hotel. The previous manager told you before leaving that you should not worry about quality as there are few complaints from customers. Do you agree with this comment? If not propose means for service quality evaluation and improvement.

In any business, the achievable goal is to have a successful form of operations management. The function of this goal is to plan, coordinate, and control resources that are needed to produce a company’s products and services. This area is a critical function within every organization and plays a vital role in the success of any company. Over the course of the years and through changing economies, operations management and its decisions have been altered to reflect updated standards, conditions, and technology. These areas and activities that have been developed are often unseen and overlooked. The evolution of operations management and its purposes were derived from several gurus whose innovation expanded from assembly lines to quality management and strategic perspectives. Operations management has grown to include an emphasis on better quality goods and services, technology, and automation: far exceeding the initial expectation of just minimized costs.