Knowledge is considered as one of the most important and competitive resource for sustenance of the organisation (Zack, 1999). It can be compared to the strategic resource that can be used and applied in various frames of the organisation. Experienced managers in the organisations believe that company can receive strategic advantage through knowledge and not the strategies or actions implemented by competitors. Knowledge can be regarded as a strong approach that opens numerous ways of success. It is that weapon that help organisation to evaluate solutions in financial and other professional difficulties.
It is often recommended for (HCO)’s to have a corporate compliance plan to be more efficient, reduce errors, and not have small errors turn into large errors. As (OIG) it’s a necessary and fundamental need to incorporate a corporate compliance plan to have for staff and management to stay organized and lessen the chance of fraud, waste, and abuse in the company. Stated by, (Cleverly, Song, & Cleverly, 2011), it is effective only if it includes management support, effective communication, continuous monitoring, and individual accountability. All these aspects are a continual monitoring requirement as long the corporate compliance is in place for the duration.
Upon looking deeper into Wells Fargo’s Vision and Values I found bits and pieces of their mission statement scattered through the pages. On the “Our Values” page I found that one of the five primary values of Wells Fargo is “People as a competitive advantage”. From that page Wells Fargo explains what that
Wells Fargo is an American multinational diversified financial services company. The company operates throughout the world. It is one of the largest banks in the US in the state of assets. Moreover, Wells Fargo is the largest market capitalization bank in the US. It takes the second category in the field of deposits, delivery of home mortgage services, and delivery of credit cards. The company has its headquarters in Francisco, California. The company has coverage of more than twenty-four states in the US. In every state, it has established its headquarters that act as distribution and storage regions for the company's products and services. The company offers insurance, banking, mortgage, and consumer financing through the sale and distribution of its networks across the US. The advantages of Wells Fargo Company are widely distributed: they have helped it realize a stable market in the United States and around the globe.
When I went to work for Wells Fargo and Company nearly 16 years ago, I went based on the little I knew of the company at the time. My impression was that Wells Fargo and Company was exactly what I was seeking in a company. I felt they were a company I could build my career with. I saw Wells Fargo as an institution I could join for my personal and professional long-term growth. I knew the company as the image of the stagecoach and I saw what others see when they look at the company. The image of its stagecoach represented an aged and stable company with a strong reputation as a prosperous and growing yet conservative
The first stated values, states that Wells Fargo’s value open, honest and two communication, which did open a hotline dealing after the scandal and handle the customer service. Though, I would not consider that company honest, but maybe openness after the fact. The second state values is based on accountable and proud of their conduct and decision dealing with Wells Fargo’s. Though, Wells Fargo is unethical in it business practices still used well known business practices and process to motivate salespeople open multiple accounts without the customer permission. Such as training employee in techniques into frauding customers and a system of rewarding for such behavior. Which shows a totally disregard for the customer financial well being
Focused on building lifelong relationships that satisfy our customers ' financial needs, Community Banking is one great team that "out-locals the nationals, out-nationals the locals" striving to earn our customers ' business and deliver a world-class, seamless Omni-channel experience every day with high performance accountability and balanced results. (Wells Fargo Intranet 2016)
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
Wells Fargo is a public trading company that was formed in the year 1852 by Henry Wells and William Fargo. The company transcended from a service that transported from a fright from the East Coast to mining camps throughout California during the California Gold Rush old rush in the 1800s (APA, Wells Fargo). At Wells Fargo’s inception it focused on offering banking solutions to the people of California with an established mission and principles that has enshrined in its culture and values that are geared towards the company vision that states “we want to satisfy our customers financial needs and help them succeed financially.” (APA – Wells Fargo VV)
In the present health services administrative environment, corporate compliance programs are a vital business capacity for recognizing hazard and staying away from obligation, particularly in light of the Government 's extended assets and expanded spotlight on indicting extortion and misuse. A corporate compliance program is a framework which is designed to recognize and avert infringement of law by the employees and employers of an organization. There are five basic elements that are used to produce an effective corporate compliance program, they include; leadership, risk assessment, standards and controls, training
I agree with Madelynn Owens when she mentioned that Stumpf did a good job persuading the viewers that Wells Fargo is still the same reliable and credible company that they have been for years. Stumpf mentions that in the future, the company will be changing the way they work to make sure nothing like this past incident happens again. Stumpf said,” We will be getting rid of product sales because getting rid of this will help lower our chances of risk.” By making this change, the employees will no longer feel pressured to meet their quotas.
In 1852 Wells Fargo the first Wells Fargo bank was opened in New York city in the United State by Henry Wells and Buffalo mayor (from 1862 to 1865) William G. Fargo. Their mission and values remain majorly unchanged sense then. Their five values are: “People as a competitive advantage, ethics, what’s right for customers, diversity and inclusion, and leadership” ("Our Values"). Every company work by their values to meet their vision, but Wells Fargo decided to choose the other way in 20016 when the bank fined a$185 million in September 2016 after revealing that it was creating fake accounts to increase the sales of the bank sense 2011. Those accounts were created from the information and the accounts of existing customers, and those customers
The Wells Fargo banking corporation offers a wide variety of specific internships that focus on different aspects of banking. The one that really sparks my interest is their “Commercial Lending” program. It is a two-year internship that is located in many locations nationwide. In this program an intern will learn to evaluate clients and how to structure deals depending on risk and reward type of management. I believe this internship would be worth my time for more reasons than the knowledge that will be implemented in the two years of being in the program, it is looking for self-motivated leaders that also know a lot within the job title.
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.