The Overpaid Bank Tellers There are important factors from The Overpaid Bank Tellers that need to be mentioned prior to examining the dilemmas and possible solutions for Russell Duncan and State Bank. The first factor is that State Bank is one out of four banks located within a community with a population of 50,000 and it holds a high reputation with them. Secondly, State Bank has been acknowledged as the leading bank out of the four. Lastly, Russell Duncan “is known for establishing progressive personnel practices” (Jackson, Schuler, & Werner, 2012, p. 393). Holding the most progressive community reputation for a population of 50,000 is commendable.
I find it difficult to believe that the managers were not aware of the reoccurring fraudulent activities. A bank’s work environment is highly commensurate with that of a sales environment. Banks often have sales objectives aimed at credit cards, lines of credits, mortgages, and more. Therefore, with my experience working in the sales industry, I imagine that there are unattainable sales goals that are set and managers create pressure onto the employees to hit unrealistic sales goals. The agency problem plays a significant role since managers know that if their branch hit their sales goals it looks good to upper management, thus creating job security with the company.
Andrew Carnegie was one of the richest people to ever live. He gained his wealth through the steel industry. He was also a big philanthropist which meant he loved to give away his money for a good cause. A big reason why Andrew Carnegie is famous it because he has donated over 350 million dollars which was about 90% of his wealth. By donating his money he has greatly affected society by helping build libraries, universities, a music hall, and huge donations to museums.
Pressure Lehman Brothers was one of the largest investment banks in the world, so expectation and pressures of reporting positive financial results that apply to a bank of that magnitude are intense. Were a bank of this size to have a poor reporting period it would have a significant impact on its quoted share price. In the years leading up to 2008, Lehman Brothers invested heavily in the US sub-prime mortgage market. Were they lent large sums of money to individuals with the purpose of becoming homeowners, it was seen as a quick way of making money as they would group a lot of the mortgages together, sell them on to other banks and make a profit. A risky investment if the homeowners were unable to repay the mortgage.
Without money could mean stealing or maybe selling illegal drugs (Brezina, 2017). This would mean that the lack of monetary success turned into deviance for these individuals which is exactly what the theory is stating. Another example of goal blockage could be working hard and not being compensated for that work. To put that in perspective, let’s say that there are two managers in a company and one of them gets fired. The company does not hire another manager to replace the old one because they do not think they need it so the one manager must do double the work for the same pay.
Also, being able to enjoy your job makes for an easier life. If you think about it the average person will spend over half their lifetime working, if you can spend that time doing something that you love, you will ultimately be a happier person. Personal fulfillment is the number one aspect of employee satisfaction. Personal fulfillment means different things to different people. Some people are motivated by money, while others are motivated by respect or the different options of benefits.
Those individuals look outside themselves to rules and laws and to the expectations of significant others in their environments for guidance when determining the ethically right thing to do. Because these conventional-level individuals represent the large majority of workers, immediate supervisors should be among the most important sources of moral guidance for these employees, and we can expect that they will look to leaders for cues about what behavior is appropriate and inappropriate. Bernard kept the company culture as deviant and unethical by managing the supervisor and those have reward and punishment system to manage staff. So WorldCom became no tolerance of error and required all the staff behave as what they asked to do. That resulted in fraud financial report and bad stocks
During the following decades of practice the accounting firm grew to become one of the “Big Five.” This prestigious tittle voiced the fact that Arthur Andersen had become one of the largest accounting firms in the United States. The name Arthur Andersen was globally respected. The firm stood representative of confidence, integrity, and ethics in accounting. This stellar reputation was vital to its success. (Squires, 2003) In the 1950s Andersen launched a consulting business that nearly immediately experienced colossal and explosive growth as global demand for
Issue: To pay or not to pay union dues? Labor unions charge an agency fee for the services they provide, such as collective bargaining, contract enforcement, and representation at disciplinary and grievance hearings. While twenty-three (23) states believe that employees have to pay unions fees, the other twenty-seven (27) believe that those fees should not have to be a requirement for employment. For anything to function cohesively, all parts must be on the same page and in support of one another. But is collecting union dues wrong?
Performance Improvement Plan is used to improve employee performance, modify behavior and correct discrepancies.Employees put under the PIP have their work closely monitored. However to employees the PIP is not really a positive thing. It should be considered as a final warning or the last step to being fired. Frequently, PIP is used by most managers especially in cop-orates and private industries to sabotage their employees future in the work places. Employees perceive it as the company 's way of gathering additional evidence to get them fired Risk involved: Protesting the PIP Employees should avoid over reaction and use the proper ways to protest.
Numerous studies have shown that employment increases from the state and federal level had an overall positive effect on employment (Whitaker et al. 631). Higher wages attract more employees and reduces turnover, which results in company’s saving money. In addition to assisting employees to live above the poverty line, a minimum wage increase would benefit owners. A higher minimum wage would benefit people across the board, it should stop being politicized so
In today’s world, a lot of companies are incorporating a credit score check in the application process. In some cases, this may actually be devastating. Not everyone is in debt due to carelessness, some are in debt because of not having healthcare and being unemployed. Yet a company is going to base this person 's approval on factors that they had no control over. For example, a person may have been laid off due to budget cuts and had to use their credit card to pay for their bills.