ipl-logo

The Ethical Case Of Wells Fargo

226 Words1 Page

In the case of Wells Fargo, the organization's cooperate culture pushed aside moral and ethical mindsets in an effort to simply meet the company's goal expectations for opening new accounts. Additionally, ramifications were felt by employees who blew the whistle on the activity through the corporate ethics lines as they were terminated for raising concerns about the organizations business practices. (Eagan, 2017) This aspect of the scandal is still playing out in a the courts as several ex-employees are filing lawsuits because of the actions by Wells Fargo. The organization's management allowed and promoted an environment that lacked ethical behavior and depleted moral standing with the employees. Instead of promoting the unethical behavior,

Show More
Related

  • What Is Wells Fargo Unethical

    178 Words  | 1 Pages

    Well just one I know of and that is Wells Fargo. A civil law suit was filed by the attorney for the City of Los Angeles. The suit was filed and accuses Well Fargo of unethically treating its employees and customers. The suit claims the Bank of setting nearly impossible sales goals for its employees.

    Read More

  • Enron's Ethical Dilemma

    1156 Words  | 5 Pages

    Enron's bankruptcy is mainly attributed to ethical and moral issues experienced by the firm's management and leadership

    Read More

  • Ethical Behavior: The Bernard Madoff Case

    903 Words  | 4 Pages

    The Bernard Madoff case exhibited highly unethical behavior, which resulted in the loss of billions of investor dollars. The orchestration of the ponzi scheme was done in a strategic manner since its inception from the early 1990’s. Madoff mimicked the method of the infamous Charles Ponzi by conducting a similar scheme using market securities. Ponzi schemes have been in existence for decades and their results have been very detrimental to those who invested in them. When discussing ponzi schemes, greed comes to mind as the primary reason behind them.

    Read More

  • Essay On Scarface And Double Indemnity

    991 Words  | 4 Pages

    The American corporate system has long faced ethical concerns amongst the citizens of the United States. Often, corporate greed undermines morality and often furthers an agenda that puts profit ahead of people. A prime historical example of this case in ethical obligations is the case of the Enron Scandal of 2001. The CEOs of this Scandal hid millions of dollars of debt from their balance sheets and were able to extort money from shareholders based on surging stock prices, fueled solely on false pretenses propagated by the CEO (citation). This is a modern example of an ethical lapse by a corporate model catering to the public.

    Read More

  • Ethical Dilemmas Faced By Enron Essay

    818 Words  | 4 Pages

    Both individuals and organizations or firms should demonstrate that they have already eliminated all off-books accounts which will distort the public’s understanding of their firm’s progress or financial background and government should also make the firms to pledge that they will not suspend the company’s code of ethics, or at least they must provide a transparent report to the public. To prevent the comeback of Enron’s tragedy, supervision of managers and executives are needed because they might exercise their own business judgments about their best interest for an organization or themselves. From my point of view, most of the problems faced by Enron derive from the immoral and unethical actions taken on by the executives and directors who wanted to achieve their personal goal and profits. Their greediness have changed the lives of their employees and everyone in the states, perhaps it also forced everyone especially entrepreneurs to look at themselves, learn the consequences of reckless actions that may drive themselves into

    Read More

  • Walmart Code Of Ethics

    245 Words  | 1 Pages

    I thank in the financial and banking case is much like my current employer,Wal-Mart, that has a well written different forms codes of conduct. These codes of conduct range from code of ethics, state of values and statement of values that are written within employment contract and on their web based intranet. However like most companies that have poor to nonexist codes of conduct these codes of conduct are never used or flat out ignored. These non-ethical corporate culture tend to promote sales before ethics or values system, which rotate towards a management x or transactional leadership were policies and laws are just pieces of paper. Such culture tend to undervalue associates respect and self worth as an individual within that organization.

    Read More

  • Enron And The Supreme Court, A Discussion Of The Lawson (FMR)

    686 Words  | 3 Pages

    In the following paper, I will summarize an article about Business ethics, also go into detail as to how it helped with contemporary thinking, what ethical issues the business leader faced, how I can apply the information in my field and if it matches my views of ethical behavior. Article Summary The article I have picked to review is called Enron, Sarbanes-Oxley, and the Supreme Court, A Discussion of the Lawson v. FMR. It begins by describing the fall of the Enron company, though the unethical uses of Special Purpose Entities to hide its losses by setting them up and moving any failing values to the SPE to keep the loss from the Balance sheet.

    Read More

  • Wells Fargo Ethical Theories

    468 Words  | 2 Pages

    Under this approach, an action is considered morally bad because of some characteristic of the action itself, not just because the product of the action is bad. Wells Fargo unethical practices demonstrates unethical behavior, under deontological ethical theories as its employees duty to operate in an honest and fair fashion , in providing services to the public. Wells Fargo codes of conduct does not permit sales practices of these sort, therefore the employees who participated in these practices made unethical decisions. Unfortunately there was a wrong-doing on a massive scale. The acts of unethical behavior were conducted by both the employees and management.

    Read More

  • Bank Of America Ethical Dilemmas

    206 Words  | 1 Pages

    In conclusion Bank of America is a global leader in corporate and investment banking and trading across the world. They serve corporations, governments, institutions and institutions around the world. Bank of America has obligated to maintain a good working relationship with all companies that they have encountered a contract with until the contract is broken or properly terminated. Bank of America leaders has to be the ones to make the final decision as to what is best for the company and the shareholders. They must also take into consideration any negative effects that may arise from the decisions that they make.

    Read More

  • Ethical Issues Paper

    1603 Words  | 7 Pages

    Ethical issues is defined as a situation that requires an organization to deal with what is right or wrong and also based on responsibilities people should behave (ethical issue, 2016). Proper ethical practice is a decent organizational culture that businesses should adopt. Through this practice, an organization can empower its brand to develop great relationships and reach high levels of trust with its clients towards its products and services. In addition, an appropriate moral and legitimate establishment can empower to help entrepreneurial firms from prosecution issues, for example, protected innovation, moral guidelines, managing providers of products and services. (Andrea Hayley, 2016) Establish a Strong Ethical Culture While our business is fairly new, we need to establish a strong ethical culture among the organizational management team.

    Read More

  • Ethics And Moral Issues In The Enron Scandal

    931 Words  | 4 Pages

    In this Enron Scandal ,several moral issues and values are being discussed .The moral issues is the misconduct of code of ethics by management level of a corporation , violation of code of professional ,ethical dilemma that faced by a management level when involved own interest . The first moral issues that discussed in Enron Scandal is misconduct code of ethics by management level of a corporation .In this case ,the mastermind of this scandal is the company CEO , Mr .

    Read More

  • Ethical Practices Paper

    853 Words  | 4 Pages

    One-way that the scandal could have been avoided is by creating a Chief Ethical Officer position or one with similar responsibilities that enforces procedures and policies. The Chief Ethical Officer job is to reinforce any principles and standards and oversee that ethics are being follow according to the company’s code of ethical practices. The Chief Ethical Officer serves a symbol that ethical behavior flows from top to bottom and along each step from top manager to first line managers

    Read More

  • The Creation Of Ethically Intelligent Finance

    1015 Words  | 5 Pages

    In a world where resources are finite, financial manager are increasingly under pressure to deliver the optimal results concerning business finance. Without funds, a business cannot operate so it is vital that funds are being monitored to identify any problem areas. To do this, many of them will utilize the income statement, cash flow, and balance sheet. These are major tools that allow the finance managers to assess the financial health of their business and arm themselves with relevant information that will dictate what growth strategies will take place to stay in business. Despite its importance, the mismanagement of money is all too common in businesses.

    Read More

  • Business Ethics Case Study: The Johnson And Johnson Case

    1262 Words  | 6 Pages

    Introduction The key ethical issues that were presented in this case study were quality control, lack of customer care, responsiveness, and harming the customer. The Johnson and Johnson case may have been seen as a turning point due to many things the company did right. However, there were many ethical issues in this case which will be explored more throughout this paper.

    Read More

  • Dominant Culture Subculture

    699 Words  | 3 Pages

    The cultural dynamics at play might tell us that even though it is unethical, since it is not illegal, it is okay. A great example of this, would be the violations in the financial sector that we have seen over the last 15 or so years. While Enron and WorldCom were not the first to do what they did, their legal violations did inspire legislation to tighten certain regulations such as the Sarbanes-Oxley Act (SOX) (Baack, 2012). Issues like these

    Read More

More about The Ethical Case Of Wells Fargo

Open Document