Identification of Wells Fargo Bank’s Organizational Culture and Ethics Issues

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Daisy Gulcin Erbas
Daisy Gulcin Erbas

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Identification of Wells Fargo Bank’s Organizational Culture and Ethics Issues

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Abstract

Organizational culture, ethics, and values are important aspects. Each organization has a different culture, even if in the same industry. It is important for organizations to hire employees who have the same beliefs, ethics, and values with the organization. Wells Fargo Bank is one of the biggest and well-known banks in the US. It was established in 1852 and continued to grow over the years. Recently, the bank started to have some issues and bank started to get a bad reputation. These issues were high employee turn-over rates, sales pressure, unethical practices, and lack of communication between managers and employees. Wells Fargo’s training based on product knowledge, sales strategies, and regulations. Wells Fargo is missing the importance of diversity training. The company needs to train its employees to create a better work environment. Training of managers, effective two-way communication, providing job security for employees, setting up attainable sales goals can help Wells Fargo Bank to keep trained employees, get a better reputation and increase the number of customers and sales.

References

8 Cites in Article
  1. I Brooks (2009). Organizational behavior: individuals, groups and organization.
  2. M Calvey (2012). Wells Fargo outsourcing more jobs to India, Philippines. San Francisco Business times.
  3. M Calvey (2012). Fargo.
  4. T Cox,S Blake (1991). Managing cultural diversity: Implications for organizational competitiveness.
  5. J Kasperkevic (2015). Wells Fargo workers to protest company as 'unreasonable' sales quotas continue.
  6. A Kieler (2015). Wells Fargo's High-Pressure Sales Strategy Probed by Federal Regulators.
  7. M Uhl-Bien,J Schermerhorn,R Osborn (2014). Organizational Behavior, 13th Edition.
  8. Wells Fargo (2016). Organizational Culture and Values.

Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Daisy Gulcin Erbas. 2019. \u201cIdentification of Wells Fargo Bank’s Organizational Culture and Ethics Issues\u201d. Global Journal of Management and Business Research - A: Administration & Management GJMBR-A Volume 19 (GJMBR Volume 19 Issue A12): .

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Issue Cover
GJMBR Volume 19 Issue A12
Pg. 9- 12
Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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GJMBR-A Classification: JEL Code: D23
Version of record

v1.2

Issue date

November 7, 2019

Language
en
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Organizational culture, ethics, and values are important aspects. Each organization has a different culture, even if in the same industry. It is important for organizations to hire employees who have the same beliefs, ethics, and values with the organization. Wells Fargo Bank is one of the biggest and well-known banks in the US. It was established in 1852 and continued to grow over the years. Recently, the bank started to have some issues and bank started to get a bad reputation. These issues were high employee turn-over rates, sales pressure, unethical practices, and lack of communication between managers and employees. Wells Fargo’s training based on product knowledge, sales strategies, and regulations. Wells Fargo is missing the importance of diversity training. The company needs to train its employees to create a better work environment. Training of managers, effective two-way communication, providing job security for employees, setting up attainable sales goals can help Wells Fargo Bank to keep trained employees, get a better reputation and increase the number of customers and sales.

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Identification of Wells Fargo Bank’s Organizational Culture and Ethics Issues

Daisy Gulcin Erbas
Daisy Gulcin Erbas

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