(Answered) MGT 3354 Case 3 – Wells Fargo Unit 7 Discussion

Case 3 – Wells Fargo

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This discussion deals with Wells Fargo. Read the Case Study, then reflect on the following Case Study Questions:

1. How did Wells Fargo focus on short-term gains violate the duties they owed to consumers, regulators, and employees?
2. Fix my GPA will help you complete your online class
3. Describe how the Wells Fargo scandal demonstrates that organizational leaders must not only establish goals but ensure that those goals are being acted upon appropriately?

Instructions

• Read textbook’s Case 3 – Wells Fargo
• Post Initial thoughts regarding Unit 7 Discussion questions, due by Friday night at 11:59 p.m.
• Post Response due by Sunday night at 11:59 p.m.

MGT 3354 Case 3 – Wells Fargo Unit 7 Discussion Answer

How did Wells Fargo focus on short-term gains violate the duties they owed to consumers, regulators, and employees?

With Wells Fargo being the largest bank in the world, it should have been able to uphold its values. They wanted to get some money from opening up all of these fake accounts and thought it would go unnoticed. Several of the employees came forward to management when they found out this information and they were fired. The consumers were violated when all of the fake accounts were made. The client information was clearly not valued by this company. The stockholders also were impacted by the decisions of this company. Because of the dramatic drop in the price of the stock, some stockholders lost thousands and thousands of dollars. Because top management wanted to take shortcuts, their entire business suffered………..