Wells Fargo: The Five Dysfunction Of A Team

There is a possibility of leakage of information by some or the other person in the organization. So, I doubt that nobody in Wells Fargo or in regulation did have any part to play in this, maybe they turned a blind eye. I believe that corporates always take the easiest way to get out of any imperative ethical issues, they blame their employees for the wrongdoings and keep top management safe. Like, in this case, Wells Fargo fired more than five thousand employees in response to the issue of cross-selling and no action was taken against the top officials of the company. It seems as if the top management is immune to such ethics-related issues.

fact, when U.S. senators requested the Labor department investigate the matter, they found lawsuits that went all the way back to 1999 for the same type of behavior (Egan, 2016). According to the Fair Labor Standards Act of 1938 the maltreatment behavior of the Wells Fargo managers against their employees was unlawful, this act was created to protect employees from being forced to work extra hours for little or no pay and instead guaranteed time-and-half rates for anything over a 40-hour workweek (Thomas, 2014). In response to these claims Wells Fargo issued a statement that insists they comply with the FSLA and that their employees are paid fairly. However, once again Grourley testified that during his time with the bank, managers would

Per CFBP, Wells Fargo employees temporarily funded newly-opened accounts by transferring funds from consumers’ existing accounts. The violations committed by Wells Fargo include:

Wells Fargo has a social responsibility to its customers to fulfill their economic, legal, ethical, and philanthropic needs. The scandal has presented numerous legal issues. It was negligent of the bank's executives and managers by placing impossible sales goals on lower level employees then encouraging, and pressuring them to meet these goals. The use of customer's information for fraudulent purposes was an invasion of customers privacy. Wells Fargo has violated the Federal Trade Commission Act which protects customers from unfair practices and has also violated the Sarbanes-Oxley Act (Thorne, 2011).

"We Can Do It!' is familiar slogan on a World War II poster featuring Rosie the Riverter. Today, her image serves as both a cultural icon for gender equality. During World War II, Rosie's image represented the spirit of the American women working in factories and shipyards while American men enlisted in service. Like all propaganda posters, her image served a clear patriotic purpose. World War II propaganda posters effectively employed techniques that strengthened patriotism while promoting support of the war effort by emphasizing a strong work ethic.

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

We have been taught, that if you are not getting the results you desire, there is something wrong with your team (Fischer & Greene, 2017). Clearly there is something wrong with this company’s team. At Wells Fargo there is a sever absence in trust between their employees and management. Two of the characteristics that are found in teams with no trust are, employees that “conceal their weaknesses and mistakes from one another” and the other is when “people hesitate to ask for help or provide constructive feedback” (Lencioni, n.d.). This is apparent at Wells Fargo because the employees did not trust their supervisors enough to approach them about these unattainable objectives or questions about how to properly do things to be able to reach these goals in a legal way. I also realized that there is a sever lack of unfiltered conflict at Wells Fargo. Some characteristics of a team that lack unfiltered conflict are teams that create an environment where back-channel politics and personal attacks thrive (Lencioni, n.d.). Teams that lack unfiltered conflict also ignore controversial topics that are critical to team success (Lencioni, n.d.). This is exactly what is going on at Wells Fargo. As we heard from Mr. Fischer and Mr. Greene, of Six Bends Harley Davidson, both gentlemen emphasized the importance of unfiltered conflict between employees in a company. These employees were intimidated by management and did not have the right or courage to engage in unfiltered conflict. Wells Fargo is not a team environment, instead it seems like a

This fear and intimidation was brought on by the extreme sales goals set by the company, which included selling various products to every day depositors who only wanted to maintain their standard checking account. Each employee was expected to push at least eight other accounts on these customers and they would be monitored on a regular basis to be determined if they were meeting their required quotas (Hightower, 2016). All this pressure pushed from management to the employees would squeeze employees to their breaking point, which was all for the sole purpose of CEO Jon Stumpf and his board of directors to drive up values on the Wells Fargo stock and put millions of dollars in their own pockets while others suffered (Cameron, 2016). Based

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.

Barbie dolls are trying to improve their race representation by creating more diverse Barbies so that little girls of different ethnicities don’t feel left out. According to Kristina Milnor, “between 1993 and 1997 the American toy company Mattel produced the “Great Eras Collection,” a series of Barbie dolls dressed to represent historical moments ranging from Eighteenth-Dynasty pharaonic Egypt through 1920s America” (215). Mattel released ten different Barbies in the Great Eras Collection in hopes of having a more diverse line, along with Mattel’s trademark Barbie. The ten different Barbies come from different historical periods that have different skin colors and have different clothing to represent racial diversity. In hopes of trying to boost little girls of color self-esteem, Mattel tried to make the line as diverse as possible, but there is a problem. According to Milnor, “here are ten dolls in all, beginning (since they appeared out of chronological order) with Gibson Girl Barbie, proceeding to Flapper Barbie, Egyptian Queen Barbie, Southern Belle Barbie, Medieval Lady Barbie, Elizabethan Queen Barbie, Grecian Goddess Barbie, Victorian Lady Barbie, French Lady Barbie, and finally Chinese Empress Barbie,” which are all considered high class status (215). This is a problem because it does not reflect all little girls. There is race representation in this line but having all the dolls portrayed as high social class does not represent most of the little girls playing with

Wells Fargo founded in 1852 is known for being a financial services company. Wells Fargo provides banking, insurance, investment, mortgage, and consumer and commercial financial services through more than 8,600 locations, 13,000 ATM’s, online, and mobile devices. Wells Fargo is headquartered in San Francisco, California but has a vision of being decentralized from that location. Being decentralized allows each location to act as a headquarters to provide their customers with specific financial services. Wells Fargo employs approximately 268,000 employees to serve 70 million customers.

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

Wells Fargo has a number of facets that give it is a stable state in the market. The company has been doing well in the market for a number of years. For instance, the company has been ranked as one of the best companies in the US. With delivery of services throughout the country, with significant evidence gained in the North America, Wells Fargo has managed to be one of the best companies in the world. The company has a wide distribution

Bank of America is one of the largest banks in the nation. It is a multinational company and it is recognized by its high revenue value. Unfortunately, Bank of America has endured many complaints and harsh views regarding their lack of ethics. Ethical issues occur when there is a blatant disregard to implement integrity, trust, and responsibility. In some financial institutions, ethical matters are displayed in the way the consumers are treated. Within the past nine years, Bank of America has diminished all of their ethical promises by revealing customer information without their permission; discriminating against consumers based on their race; and manipulating overdraft fees in order to benefit the bank. In order to assess these problems, it is vital to recognize what Bank of America claims to stand for and determine where their most concerning issues are generated from.

The patient was recently assigned to this writer's caseload. Based on the patient's history thus far, she's compliant with her attendance. The patient currently has three take home bottles. Please note, the patient's bottles were suspended in the month of March of 2016 due to not validating her Rx Scripts in a timely manner. Her bottles were reinstated in the month of May 2016. This writer will monitor the patient's progress in treatment, ensure that the patient validates her Rx Script, and monitor the patient UDS result.