Wells Fargo And Organizational Culture Change

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Wells Fargo and Organizational Culture Change Wells Fargo, a Fortune 1000 company faced allegations of fraud and unethical behavior. in respect to organizational culture. Every organization is impacted by the cultural environment within the organization as well as in a specific industry which can impact the efficiency and effectiveness of the organization. This report begins by identifying the organization, Wells Fargo, by giving a brief history of the organization that was “founded by William George Fargo (1818-81) and Henry Wells (1805-78) in 1852, (Wells Fargo, 2012). The mission and vision of the organization will be examined in addition to the strategies implemented in the recent past. The vision, values and strategies developed in…show more content…
Cultural change doesn’t happen without action. When looking at organizational change, it starts with conducting an assessment through the use of surveys, interviews, observations and policy reviews. Processes should be implemented to conduct and analyze these steps to aid in creating recommendations for cultural change within the organization. The assessment will guide the development of a strategy in creating the cultural change. Culture change is not easy and will take action at all levels, most importantly at the top. This will begin with the development of an updated mission and vision statement to include values and strategies moving forward. The implementation of new hiring practices, training practices and policies will be discussed to aid in creating the cultural change at Wells Fargo. This report discusses moving from words to action and how Wells Fargo can generate buy in throughout the changes discussed. This report will discuss the option of bringing in a consultant and phase in of proposed changes. Change is ongoing and even after implementation, there is a need for review and follow-up. Wells Fargo has begun to make changes which will be reviewed for effectiveness and efficiency throughout the sections of this paper. Wells Fargo Organization Wells Fargo is and has been a leader in the banking industry for years. Well Fargo was “founded by William George Fargo (1818-81) and Henry Wells (1805-78) in 1852, (Wells Fargo, 2012). It started as a stage
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