Read Case study: Wells Fargo Banking Scandal https://www.scu.edu/ethics/focus-areas/business-et…

A. Answer each of the following questions with 100 to 150 words:

1. What should business leaders take away from this scandal?

2. What could Wells Fargo have done differently to avert this cultural meltdown?

3. Modeling Character and Values: What values did Stumpf model to Wells Fargo employees? What impact might that have on the culture of Wells Fargo?

4. Encouraging Ethical Conduct: What behaviors can leaders model in order to encourage ethical behavior in their organization?

5. Designing Ethical Systems: Wells Fargo did have some systems in place, like the ethics hotline, to report unethical behavior, but it didn’t work. Why do you think that is? What steps can leaders take to design systems that encourage ethical behavior rather than unethical behavior?

B. Provide references in APA Format

Answer preview

1. What should business leaders take away from this scandal?

Business leaders have a lot of lessons to learn from Wells Fargo’s scandal. One of the lessons is being accountable for any action taken. Wells Fargo’s leaders knew unethical activities that were taking place but blamed employees for the creation of more than two million fake customer accounts. Building trust between the leadership…

 

(900 words)