Smith Financial Corporation Case Summary

Suppose it is a security company, and I have several departments, such as analysis department, sales department and management department. As we know, most of employees in the security company need profession knowledge and experience. In addition, because the stock price of the market is not stable, so the wage of employee will fluctuate. Therefore, in order keep my employees working positive all the time, I would reward then monthly rather than yearly. Second, I would also set the punishment system and list clear behavior that cannot do. Then, I will always encourage my employees to work carefully and increase their self-confidence. However, the most important part of running my business well is hiring the good employees, and always maintains the employees’ dignity and

Defendant Smith has right as do all citizens of the united stated, he should not be held over at his preliminary hearing in light of the fact that he didn't infringed upon any laws by being at the Lake Tavern bar, which is a public place. Secondly, Officer Jones did not find any drugs or drugs paraphernalia on smith. In addition, Officer Jones did not witness what was exchanged between Smith and Brown. Furthermore, in light of the fact that Smith had $500.00 on him isn't verification that he simply sold a kilo of cocaine to

Visit at least two different companies’ website and read about how each company explicates the working environment and its expectations of employees. In your discussion post, reference the websites you analyzed. Examples of companies include, Kraft Foods, Apple, CVS Caremark, Johnson & Johnson, and Target. Identify what your selected companies do to establish a positive working environment and committed employees. Be specific in identifying behaviors, programs, or initiatives. (Note: If a company website does not provide enough information, select another company.)

On February 10th 1997, Frank Miller assumed the position as the director of data management in Smith’s Information Services department. He was hired to fill a vacancy that was available for more than one year as well as help restructure and reorganize Smith’s Information Services department (Hattersley and Mcjannet, 54). The primary function of the Data Management Group at Smith Financial was to manage the distribution, storage, capture and flow of data throughout the company. Before Miller, this position was left vacant and needed someone to take charge as well as help the company move in a different direction than the current one.

Wells Fargo was established in 1852 by Henry Wells and Williams Fargo who joined a group of other investors to form a transportation and banking company. In 1849, gold was discovered in California, which encouraged a huge demand for its cross country shipping and by 1852 Wells Fargo shipped its first consignment of gold. Wells Fargo also established merger deals with Pony expresses which made them one of the pioneers of pony transportation. This company later expanded to a company that offered not just pony and gold transportation services, but also offered banking services by purchasing gold and selling paper bank drafts as good as gold. In 1905, the banking branch of the company merged with the Nevada National Bank and established its new headquarters in San Francisco. ("Wells and Fargo start shipping and banking company", 2016).

In a recent case involving the Wells Fargo company, the judge ordered the company to pay a penalty worth $5.4 million to a manager who had been fired from the company in 2010 for reporting his suspicion on fraudulent behavior to seniors on the ethics hotline. The decision that the employee should resume back into his position in the company was also included in the verdict reached by the judge. The supposed $ 5.4 million was meant to be the compensatory fees for all the damages that he had been caused as well as to cater the legal fees. According to the reports from OSHA, the fired manager had received positive reviews for his job performance but was unsuspectingly dismissed after he had reported the cases of blackmail and wire fraud by some

1. Provide employees with high quality of life by making them comfortable at work and by giving them a variety of benefits

Eileen Foster claimed that Countrywide Financial and or Bank of America terminated her employment in retaliation for reporting unethical and illegal issues committed by upper-level management within the Employee Relations Department. Furthermore, The Department of Labor went into investigations based on this information which was later supported by Full Spectrum Lending Division and Consumer Market Division. The investigations did provide crucial evidence and information on these allegations of fraud. I found that these allegations were fair and true to the situation. I find that Countrywide Financial or Bank of America could not risk leaking any or all information out into the public eye thus the quick termination of employees or “hush”

Workers should work to maintain and promote high standards of practice and support and advance the values, ethics, knowledge, and mission of the company.

In recent news Wells Fargo bank has been under a lot of scrutiny regarding unethical business practice. Wells Fargo & Company, is one of the nation's largest financial banking service company that provides

Loans at the time were nonamortizing and required a balloon payment at the expiration of the term. Mortgages were available to a limited client base, with home ownership representing about 40 percent of U.S. households. Many of these short-term mortgages went into default during the Great Depression as homeowners became unable to make regular payments or find new financing to pay off balloon payments that became due. The United States government intervened in the housing market in 1932 with the creation of the Federal Home Loan Bank (FHLB). The FHLB provided short-term lending to financial institutions (primarily Savings and Loans) to create additional funds for home mortgages. Congress passed the National Housing Act of 1934 to further promote homeownership by providing a system of insured loans that protected lenders against default by borrowers. The mortgage insurance program established by the National Housing Act and administered by the Federal Housing Administration (FHA) reimbursed lenders for any loss associated with a foreclosure up to 80 percent of the appraised value of the home. With the risk associated with default on FHA-backed mortgage loans reduced, lenders extended mortgage loan terms to as long as 20 years and LTVs of 80 percent. In 1938, Federal National Mortgage Association (FNMA) was established

As outlined in the Airmic report, lack of requirements for a formal debrief process was the cause of many of the fatal collapses of the largest companies in the world. An example of where a formal debrief process could have potentially saved an organization was illustrated in the case of Arthur Anderson. It was well known within the organization that there were inherent risks associated with client selection and retention. Several waves of “high-energy” organization development campaigns had led to bringing on poor-performing or unscrupulous clients, Enron being one. It was commented by team members within Andersen, “[We must] have the courage to say no to relationships that bring unacceptable levels of risk to our firm.”

Crosby, Deming, and Juran believe that it is management 's duty to establish an organized environment in which quality is guaranteed to be the main focus. Crosby, Deming, and Juran agree that education and training must continue at all levels to improve quality and develop employee skills and knowledge. Effective communication, cooperation, and teamwork throughout the organization are essential.

Ensure that the individual and collective relationship between the organisation and its employees are managed appropriately

Looking to the future, it is important to plan ahead to and create a formalized structure. The owner should create a mission statement and yearly goals to share with the employee. Human Resources should have formal job descriptions for each job title in the company. An appraisal process should be implemented and as the company grows, career paths should be created. There should be a formal employee orientation process with a well thought out socialization process. “The most important socialization stage is at the time of entry into the organization. This is the time to mold the employee into an employee in good standing”, (Robbins, 2010). If an employee is not socialized properly and allowed to flourish in their position, they may be frustrated, resign, or cause problems within the department. Each department should have their own formal policies and goals that tie into the corporate goals of the company. It is important to formalize all policies and procedures in an effort to protect the company from law-suits and employee ethics charges. Formalized policies will make it clear what the company stands for and how to enforce the rules and regulations. It will also be necessary to create an employee management process for employees that are not performing up to standard. A