Wells Fargo Business Analysis

The document I chose to use for my document design project is the Wells Fargo 2015 Annual Report. I found this document online when searching for annual business reports. This report is directed towards Wells Fargo’s investors and anyone interested in becoming a future investor with them. Investors are the audience because the report highlights its yearly financial review and communicates its financial statements. I believe this report’s rhetorical goal to persuade current investors, as well as future investors to invest in Wells Fargo. They are trying to persuade them by showing that the business’ success comes from genuinely caring for their clients.

In chapter 5 we discussed some of the strategy links like vision and goal and values, like how values are what we stand for and believe in and vision is what we aspire to be. The values that we used for Wells Fargo are what's right for customer- customers at the center of everything they do. They want to exceed customer expectations and build relationships that last a lifetime. People as a competitive advantage- strive to attract, develop, motivate, and retain the best team members. People are committed to the highest standards of integrity, transparency, and principled performance. Value and promote diversity and inclusion in all aspects of business. The values that we taught are to satisfy the customers' financial needs and help them succeed

When trying to determine which promotional strategy a company should use many factors need to be taken into consideration. The company must to decide who their target market is and what message they wish to deliver to the target market. Once this has been decided, the company should research their target market in order to determine which promotional strategy will work best to reach their target audience.

Since 2011, Wells Fargo employees across the United States have been opening millions of fraudulent accounts in their customer’s names. (Egan, Matt) Combine the credit accounts with the deposit accounts you get about 2.1 million fake accounts of which 100,000 incurred fees totaling 2.4 million dollars. (Levine, Matt) Through multiple customers filing complaints and Wells Fargo “whistleblowers” the fraudulent accounts were brought to light and Wells Fargo was taken to court in Los Angeles by the Los Angeles prosecutor and federal regulators in the middle of 2016. (Reuters) Whistleblowers are those who expose misconduct of organizations and their members. (Exploring Management) As a result of the federal investigations and the lawsuit

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 additions to the strategies implemented in the recent past. The vision, values and strategies developed in writing by an

Wells fargo has been on a roller coaster of up and downs but yet it is still considered a good stock to buy. We have talked about the different controversies this company has been through. These events have caused lots of consumers to lose trust in wells fargo. The main focus for the near future will be trying to regain our customers trust. This can be achieved by making a fresh start and cleaning house. It would be in Wells Fargo best interest to fire middle level managers that were involved as well as the ceo. The new management team once in place must prove to stockholders that there won't be sneaky lies or hidden agendas. In addition to the stockholders Wells Fargo needs to make this right with the people they ripped off. A settlement that

Wells Fargo & Company is an international company which deals with banking and financial services. Its headquarters is in Francisco, California and it Hub quarters throughout the country. In terms of market capitalization is the second largest bank in the United States. It is also the third largest banking company in United States in terms of assets.

James has worked in the banking industry in a variety of different roles for the past 15 years. One of his positions at Wells Fargo was as a Fund Auditor. James was responsible for the auditing of loan contracts as well as the terms and conditions of the loans. He truly enjoyed this position because of the attention to detail and is looking to get back into this line of work. His gaps in employment from January 2013- April 2013 as well as March 2016 to present has been due to job searching. After Capitol One closed the Tigard branch from he took time to enjoy his family this time span was from January 2016 - February 2016.

Wells Fargo has been in business for more than 160 years, being one of only a dozen U.S. public companies still in its founding business under its founding name. Since the early 1990s, Wells has grown from a network of small Midwestern banks into a national company with a growing global presence (Stumpf, 2012). Wells is domestically well known for having thousands of products to offer and more than 80 businesses standing.

The management at wells Fargo relied on compliance as a strategy for managing its ethics (YouTube, 2018). The management set standards that employees were expected to meet. For instance one employee reports that in the line of work she realized that she was unable to meet the set goal. She decided to call the banks ethics hotline to explain to the management that there was no ethical way of making such huge sales (Cowley, 2018). The management at Wells Fargo was using the low-level employees to open accounts without informing the customers (YouTube, 2018). Although the management says that these was not the company’s culture as reported by the employees. The same workers who were engaging in opening more accounts were working in the same roof

Wells Fargo, the world’s most valuable retail bank, has been fined to pay $185 million dollars after the exposure of schemes that defrauded customers in line with a business model, organized from the highest levels of the company, to boost its profits and growth (Beams). According to the US Consumer Financial Protection Bureau (CFPB), the bank opened 1.5 million store records and more than a large portion of a million accounts without clients ' authorization. Bankers moved assets from clients ' records into newly made accounts without their insight. The CFPB said that it resulted in customers being charged for insufficient funds or overdraft fees because the amounts that they were charged were not in their accounts. The bank also created more than 565,000 credit card accounts, of which 14,000 credit cards totaled more than $400,000 in fees and interest charges (Beams).

The banking industry and Wells Fargo must use analytics to better understand market segments to allow them to correctly identity which markets to enter. Without the correct capital allocation within certain markets, any financial institution can see their revenue shares dwindle thus creating a direct need for market forecasting.

“Explain the role of Wells Fargo in the financial system. Assess its exposure and performance from 2009-2016, after the global financial crisis, including a comparison with peers. Did it do well or badly?”

In an interview which was conducted by CNBC, the Wells Fargo’s chairman Mr. John Stumpf deflected that the compensation and stock for Carrie was supposed to be clawed back as investigation was on going. If the managers of the bank were not capable of noticing the fraudulent actions taking place then it meant that it was too big for them to manage its daily operations.

Under the audit and examination committee, they have to regulatory and oversight the conduct risk of the entity, in addition, they have to disclose the security risk, operational risk and technology risk. Moreover, audit and examination committee required to oversight the internal audit function, external auditor performance and disclosure framework for financial and risk reports prepared for the board, management, and third party agencies. The committee should provide greater centralization of review and oversight and augment reporting to the board of the type of issues that contributed to breakdown in Wells Fargo’s sales culture.