Description

Wells Fargo

The concern is that Wells Fargo has been obsessed with a culture that has encouraged the accomplishment of sometimes high, elevated targets coupled with the high pressures. Since the culture was based on inexperienced financial firms' sales, this is generally a formula for failure that is a dynamic and aggressive enterprise. Consequently, when a "successful" inexperienced aggressive banker was elevated to a position of manager, he/she carried this same sense of right and wrong to their team that introduced them to fame, causing a chain reaction. The high-pressure environment and the public disappointment at poor performances can undermine employee ethics, such as when opening accounts that are not approved by customers who have created millions of fees for the bank. I blame the Community Bank head, Carrie Tolstedt, and Human Resources at Wells Fargo.

 Although there seem to be various ethical standards compromising Wells Fargo, the underlying responsibility behind the controversy of Wells Fargo is the value of reputation and morals. Based on the current Reputation and Morale of Business Ethics by Josephson, Ethical managers are committed to preserving and building the reputation of their workers and their values by doing nothing that might damage their esteem and taking any appropriate step to redress or avoid the misbehaving of others. Wells Fargo staff and their allies are to come together to oppose the ally of predatory activities of the bank in Minneapolis – in particular, revenue limits placed on some of their employees. 

By developing a concentrated promotional plan and suffocating the workers ( for example, bankers, sales staff) and relentless strain on the results, otherwise you will be destroyed publicly and losing your job leading to "do whatever it takes," even dishonest actions.

 The cultures and behaviors for all market sectors must be taken into account by businesses. Wells Fargo is, of course, an immense organization with multiple staff, divisions, and industry lines - it also has a commitment to maintaining a decent working atmosphere for its employees on all channels. That is why I think HR should actually be responsible for not offering the right technical preparation or encouraging it. A human resource specialist is responsible for motivating workers to engage in workforce development programs. Encourage everyone from time - to - time to update their current expertise to be important to the organization.

Even if it was quite late, I assume that the Board of Directors of Wells Fargo chose the necessary steps to combat this issue. Establishing whistleblowers and third-party advisors for staff to exchange insights and help them feel at risk. I think that businesses need to ensure appropriate preparation and instruction, including ethical training. Professionals in human resources play an important part in developing a business community in which the workforce is taking training and growth work seriously. Invite all the workers to a shared forum and stress the importance of preparation and how this will allow employees to develop both personally and professionally

 Also, with training classes and counseling services, there are workers who are still empowered by financial gain which all they can to accomplish this without the company's request – which threatens the reputation and integrity of the organization.

The Fall of the Fabulous Fab

Fabrice Tourre, a 28-year-old Goldman Sachs banker, expert in mortgage-backed assets, is a knowledgeable and hard-working man with a Stanford degree in engineering. Even so, during the subprime financial crisis of 2008 to 2009, he was also one of the few people from any large Wall Street firm kept accountable for securities fraud. Hence, some people claim that because investors wagered on the mortgage portfolio's success to make money, Goldman behaved close to Casino. The gambling, however, is done. Goldman lost the game. As the product manager, Tourre was sued by the SEC for misleading investors, and Goldman resolved this lawsuit for $550 million. 

As a Goldman staffer, because of the evolving mortgage market, Tourre has to face many stresses. He feels frustrating, as per his email, so there is a chance for him to build a "thing" to benefit his company and himself. The thing is "Abacus," so for that, Tourre was mainly accountable. Because of two aspects of his actions, the SEC is particularly opposed to him: legal and moral. First of all, from the legal side, Tourre planned the promotional materials and conversed with value generated. He knew all about the unknown short interest of Paulson and his role in the counterparty recruitment process, but he still tricked ACA into making the choice. ACA claims that Paulson has capitalized about $200 million in ABACUS 2007-AC1 equity and that each of its interests has been aligned with each other, although this is not accurate.

In this situation, it seems that Goldman Sachs' internal framework did not allow Tourre the opportunity to voice his concerns. Therefore, another option for Tourre might be to "blow the whistle" to an outside group, including the SEC. While this could cause him to lose the present work, he would not be arrested and excluded from the entire business for an era.

Furthermore, this situation is distinct from the case of Livedoor facing novice individual investors. Like Goldman, investment banks typically work with sophisticated institutional investors who have a massive capital involvement. Thus, when making decisions, these investors need to be more vigilant since the failure of their investment could lead to the entire business's failure, even the entire industry 

Tourre refused the settlement of a lifetime ban from the investment industry despite Goldman paying for Tourre's protection. He agreed to battle the charges in court and quit the firm at the University of Chicago to begin his Ph.D. in ethics. This mb a courageous act, but in this case, he had done something wrong. Tourre acted alone, as per juror Dylan Maxwell, so he should be guilty, but what Tourre did was produced by the corporation. Dylan assumes that the organization's framework allows its workers to behave alone so that when anything happens, the company will still find scapegoats for the wrong actions.

Fabrice Tourre's case shows the intentional tension between seeing mistakes and behaving as an agent of change while someone is engulfed in this culture. Later, when we go to the actual office, we need to think that we should have done differently when faced with this ethical problem. To avoid such errors, Goldman must design individual control systems, as centralized controls may be inadequate. Young money managers, faced with ethical dilemmas, must build and introduce a better corporate culture following the values.

Can an “ethical” bank  support guns and fracking?

After watching An Inconvenient Truth movie, Rocky Mountain Green Bank was indeed a bank initially thought of, formed, and founded by Jay McGuane. Although also having a goal and vision which embodied ethical principles and took into consideration the best environment interests, the public, as well as its owners, the bank was intended to represent a financial institution. The real problem in this is that Instead of the parties, loan applications go against becoming an ethical and green bank. Though, Jay notes that before contemplating ethics, the bank was expected to make the profit that was protested against because if that was the case, so this whole green campaign was only a gimmick to lure consumers, which in effect would have a negative image in the eyes of the media.

Precautionary decision-making principles should be taken in this case. The Precautionary Principle describes risk management new standard when the risk's existence is subject to certain scientific uncertainty. This principle states that, in cases of irreversible or serious threats to the ecosystems or human’s health, recognized scientific uncertainty must not be used as a purpose to delay preventive measures.

One should follow the Precautionary principle of decision-making because It recommends that possible threats to human health and the environment be prevented. As an increased legal principle that should direct public policy as well as the formulation of particular laws, it has gained acceptance in the international community.

We can apply this principle with the effective guideline. Firstly, we have to establish a framework by incorporating, integrating, and operationalizing, including all relevant right holders and stakeholders in a transparent decision-making, assessment, and implementation process and using the best available information. Second, defining the best possible option, threats, and consequences by characterizing the threats, assessing the options, and allocating responsibilities for providing evidence. Third, devise the suitable precautionary measures that need to be explicit, proportionate, equitable. Finally, implement effectively by using the adaptive approach of management.

Some would say that the Ethical Bank can be part of supporting the Guns and Fracking industry if it is a strategy or business while others are not in favor of it. However, I believe an ethical bank should not help the gun making or  fracking industry because there is a high possibility of going wrong in one way. Also, a loan to gun manufacturers or fracking  would announce that the Bank really has no principles and that the green thing is just a marketing gimmick. For example, based on two incidents on case study and loan applications we can see that it's not the company's intention but the company's work is such that it could damage both the harmony of mankind and nature in some way.

There are some conditions where the principle of Precautionary decision-making will not work, i.e., refusal and inaction of innovation, highly obstructive administrative processes, and a funds waste on the zero-risk utopian goal search.

I assume that an  ethical bank cannot go through which industry a company comes from, but they have to analyze the company's work and the environmental and human impact of that work. If, in any way possible, their work presents any kind of danger then an Ethical Bank should not support that firm.

Gender and Free Speech at Google

Google and one of its former software engineers silently ended the high-profile discrimination dispute. Ex-Google employee James Damore has advanced two years after claiming sexism against Conservative white men to reject his case against the internet giant. Damore worked as a Google engineer before being fired in 2017, following criticism of its efforts to improve its workforce’s diversity. Damore wrote a memo on the diversity of women and men at Google, backed by scientific sources. Reading Damore’s 10-page memo for the first three pages, it is not easy to get the stereotype that many engineers find it difficult, despite its brilliance, to express themselves creatively.

Damore begins with the presumption that more women are successful at the technical workplace. However, he is battling how Google struggled to reach gender diversity when only about 20% of Google’s technology is female. But certainly, this failure is not due to a lack of attempts. And its policy of affirmative action ensures that no female candidate with potential is ever breached.  Damore said that although Google rejects most candidates for the first interviews that did not work well, women are often provided with second and third opportunities.

Damore says women are more concerned about performance naturally and will thus not succeed every day in a demanding environment. It is a tormented inference when he takes an exceedingly big brush with all sex. He insists he’s not a racist, and he appears obviously to have his opinions.

So what are the real implications for Google of Damore’s views? He was too poor an employee in his everyday positions to make an impact, even though he arbitrarily forced his viewpoints to change Google’s policy on diversity. He will also, of course, be warned of voluntary breach of employee conduct, terminated or fired by Google. Damore’s memo, which outlined the new strategies, is neither written for Google’s human resources. He only called for a discussion in Google’s best traditions. He debated what seemed to be an irresistible issue, got lost, and drew a bad ending.

       Google should only have reacted to Damore’s memo stating that while it disapproves of the woman's features, the company’s stance on diversity remains strongly in place before Google will take Damore’s memo more into account. It should have proceeded to say that some of the most influential women in software technology were all Google Alumni — defeating Damore’s claim. These include Marissa Meyer (ex CEO at Yahoo), Sheryl Sandberg (COO at Facebook), and Susan Wojcicki (CEO at Youtube). Google opted to shoot Damore instead. Besides, workers should not be fired because they have tormented, and even mistaken, opinions. It is much easier if the company promotes opposition and stimulates workers by their company time structures to discuss important questions about their workplace.

Yet technological firms will never do this because the effect would be important to their bottom line. The cultural policy in America today is so high that the perpetrator is prosecuted if someone doesn’t have political correctness. In virtually every case, however stellar, the future of the perpetrator has been over. The only distinction is that it is not the State who punishes. It is people who punish it. The purpose of political accuracy is to allow others who are less like them to accept others. Tolerance is not a two-way street in this context, at least on Google. 

Making Target the Target

Governor Pat McCrory of North Carolina signed HB2 into law on March 23, 2016. The legislation repealed local LGBT non-discrimination policies and barred people from public toilets and changing facilities that didn't reflect their biological identity. The main problem is that the bill has quickly been demounted as patently biased against transgender people by human rights advocates and liberal political parties across the U.S. His supporters argued that standardizing state-wide laws against segregation in the interests of public safety is a rational thinking step. In addition, on the next day, the AFA, a Nationalist Party, started an online petition to close down the stores of the Firm.

As a CEO of Target, my decision would be in favor of the company not just because I'm part of it, but Target did nothing wrong with its donation to M.N. Forward, and one should not apologize. Target has attempted to build a reputation as a socially conscious organization through its public events and tweets. Target has been lauded as an organization that is particularly welcoming to LGBT before the M.N. Forward dispute (It sought donations from big state-owned corporations, including Target) and earned a perfect score of 100 throughout the Corporate Equality Index. It has also been associated with activities, including the yearly Twin Cities Pride Parade in Minneapolis. 

The company has been socially responsible over the years and fulfilled all the activities mentioned earlier. It will also follow the principle in the future as well because what the public believes is important to the sustainability of the business. Because the use of corporate responsibility grows, a socially responsible image becomes more and more important. When selecting a firm, clients, workers and partners give preference to CSR and keep firms accountable for their corporate views, policies, and earnings. The corporation is responsible for social reform. A strong CSR policy provides businesses with an ability to show good corporate citizenship and protect the organization from outsized risk by looking at the entire social and environmental field.

The unfavorable media attention and political implications of the M.N. Forward donations have not greatly affected the productivity of the stock. However, shareholders and corporate leaders are concerned about Target's image as well as internal employee morality over the likely long-term harm. I conclude that corporations need to have effective corporate responsibility, including good ethics and awareness. Target should reevaluate the campaign contributions decision-making process and take the opportunity to build corporate LGBT rights funding. In fact, several people were appalled by the lasting tarnishing of Target's leading record on LGBT issues within days.

The first point of CEO Gregg Steinhafel was that the donation was based purely on corporate interests. However, he quickly tried to backtrack and apologized for the donation and undertaken changes to Target's policies on political contribution under rising public and shareholder influence. Employees in the organization shared similar worries about the donation and its repercussions for the LGBT commitments of Goal. The representatives of Target immediately defended the donation, reaffirming the legacy of supporting LGBT rights by the organization. In a letter to staff, Steinhafel echoed M.N. Forwards' argument that the gift was intended purely to encourage commercial-friendly economic policy. He insisted that we scarcely support all the views of the associations and candidates that we support and have no social or political ideology.

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This week I have read the five BYOF assignments that were completed. The major problem in the case of Wells-Fargo is the banking scandal with the customers.  The Department of Justice reported on Friday that Wells Fargo would spend $3 billion to pay for criminal violations and legal litigation arising out of its alleged consumer maltreatment of its Regional Bank over 14 years. Between 2002 and 2016, workers used deception to achieve unlikely sales objectives. Many retired workers said business revenue targets could not be fulfilled, and salary bonuses and permanent jobs allowed the system to play. Wells Fargo has put the burden on staff to sell and give consumers to purchase more commodity forms, including credit cards and deposits and checks or savings accounts. In one of the highest-profile cases relating to the credit crunch, a former Goldman Sachs dealer called "Fabulous Fab" was responsible for six fraud charges. An ethical organization cannot carry out the business in which an enterprise comes.

Plato principle of decision making used to solve this issue. Plato may have thought that the solution to the dilemma of Wells Fargo was to allow Virtues to flourish within its staff. While this is an admirable objective, it is difficult to implement at this stage. Wells Fargo had almost 260,000 employees in 2017 – equal to a small town. Just like every city, there will be a big number of people in these 260,000. It is therefore untrustworthy to hope that everyone will want to be good and concentrate on developing their virtues (even with significant coaching and development) Therefore, the decision-maker must make sure that all the conditions and interests of various groups are taken into account when making his decision..

This principle is selected because personnel are recruited and trained to the highest possible degree depending on the best appraisal managers, but it is simply not possible to recruit or educate a company of saints. Sure, coaching and preparation services will benefit, and several businesses have these. However, this misconduct is a straightforward remedy.  Problem-solving is described as a higher-order cognitive function that needs more repetitive or essential skills to be modulated and regulated. This happens if a device of artificial intelligence doesn't know how to move from a certain state to the intended destination. The problem process comprises problems and problem forming. It is part of the large problem process. The problem-solving method works independently of consciousness and usually uses well-defined mathematical computer structures. Problems are often resolved by decision-making, and decisions for management and leadership are particularly critical. Decisions should be seen as the product of the psychological mechanisms that lead to many options preferring a course of action. Each decision-making process brings in a final decision.

The case study "The Fall of the Fabulous Fab" used the principle of brainstorming. Developing a The Collapse of the Fabulous Fab issue statement is a lengthy process that necessitates proper team brainstorming in determining the organization's inherent loopholes or inefficiencies. It also provides unique insights to management in identifying and looking at variables that have been shielded from management's view, slowly and steadily affecting efficiency. This segment discusses the various approaches to solving the problem. The management/teams create multiple options for addressing the issue in this segment. These solutions are often either in operation for management or re-developed from the ground up following intensive Brainstorming. This principle is used in this case study because it discusses the various approaches to solving the problem. The management/teams create multiple options for addressing the issue in this segment. These solutions are often either in operation for management or re-developed from the ground up following intensive Brainstorming. People will think more honestly and without fear of being punished as they brainstorm. To solve challenges and develop new solutions, Brainstorming promotes free and continuing cooperation. Brainstorming allows teams to easily produce a vast range of proposals that can then be optimized and combined to create the optimal solution.

In the case study “Can an “ethical” bank  support guns and fracking? “ they have to analyze the work of the corporation and its environmental and human impact. If some danger exists in their work, and the Ethical Bank does not fund this business.   The real problem in this is that Instead of the parties, loan applications go against becoming an ethical and green bank. 

        Precautionary decision-making principles should be taken in this case. The Precautionary Principle describes risk management new standard when the risk's existence is subject to certain scientific uncertainty. This principle states that, in cases of irreversible or serious threats to the ecosystems or human’s health, recognized scientific uncertainty must not be used as a purpose to delay preventive measures.

          One should follow the Precautionary principle of decision-making because It recommends that possible threats to human health and the environment be prevented. As an increased legal principle that should direct public policy as well as the formulation of particular laws, it has gained acceptance in the international community.

          We can apply this principle with the effective guideline. Firstly, we have to establish a framework 

by incorporating, integrating, and operationalizing, including all relevant right holders and stakeholders in a transparent decision-making, assessment, and implementation process and using the best available information. Second, defining the best possible option, threats, and consequences by characterizing the threats, assessing the options, and allocating responsibilities for providing evidence. Third, devise the suitable precautionary measures that need to be explicit, proportionate, equitable. Finally, implement effectively by using the adaptive approach of management.

After all, every action made is to reconcile opposing interests and allocate common resources between the various parties. The argument here is that there are few resources in any organization, which have to be shared among competing groups. Therefore, the decision-maker must make sure that all the conditions and interests of various groups are taken into account when making his decision.

In the case study "Gender and Free Speech at Google," the Nominal Group Technique principle was used to resolve the problems. The nominal group strategy is a group method that involves identifying problems, developing solutions, and making decisions. It should be used in communities to take into account everyone's views. The distinction is in the form of tallying. First, each group member expresses his or her opinion on the described process door triggers and provides a brief interpretation. Duplicate causes are then omitted from the list, and the members rate the causes in order of importance: first, second, third, fourth, and so on. People can be left out of conversations and can stop participating. Martin will hear both thoughts, and each team member contributes using the nominal group strategy. And if this knowledge is only given at the decision-making level, it is still useful.

In "Making Target the Target," the principle of the Delphi technique is used. The Delphi technology was initially intended as an option for a panel of experts without actually putting them together face to face. It is a systemic and immersive prevision process. In two or three rounds, the experts respond to a questionnaire. After every round, the facilitator gives an anonymous overview and explanations for the experts' estimates from the previous round. In the light of the responses from other members of your team, experts are also asked to review their previous answers. This technique is used in this case study because anonymity decreases the influence of the dominant individuals, contributing to the reduction of peer pressure and enables non-adversarial views to be heard. The answers are evenly weighted so that nobody will change the group's views. Regulated feedback on the community perspective decreases noise and helps members to rethink the rankings of others.

The most complex of all social functions, problem-solving, is part of the reasoning. Problem-solving is described as a higher-order cognitive function that needs more repetitive or essential skills to be modulated and regulated. This happens if a device of artificial intelligence doesn't know how to move from a certain state to the intended destination. The problem process comprises problems and problem forming. It is part of the large problem process. The problem-solving method works independently of consciousness and usually uses well-defined mathematical computer structures. Problems are often resolved by decision-making, and decisions for management and leadership are particularly critical. Decisions should be seen as the product of the psychological mechanisms that lead to many options preferring a course of action. Each decision-making process brings in a final decision. 

The result may be an event or a view. Human success was actively investigated from different viewpoints in decision-making terms. From a psychological point of view, human choices need to be analyzed in the sense of a collection of desires, individual references, and beliefs. From a cognitive standpoint, the decision-making process has to be viewed as an evolving process embedded into an environmental engagement. The study of human decision-making from a normative perspective is concerned with the rationality and rationale of decision-making. Before people fix it, the issue must be well defined. Vaguely unresolved problems and trigger fear. Hazy, ambiguous problems cannot be resolved, which sometimes generate additional peripheries. Crypt the questions so they can be solved one by one. To properly fix problems, people need reliable facts. If persons quickly resolve this aspect of the mechanism, individuals will cause needless delays and unintentional consequences.

The more facts people collect on a certain topic, the more likely it is to make a satisfactory decision. Most challenges have a variety of appropriate solutions. Choosing the right one is a question of degree—narrow people's options by comparing people's choices to any of the better alternatives. Consider how the strategies meet the people's goals, how they affect prices, what time is needed, what risks are, what other people believe, etc. Choose the one that best fixes the dilemma for citizens after assessment of all options. Consensual decision-making ensures the listening and taking into consideration of most interests of the relevant parties. However, decision-making by consensus might not be possible in real-life organizations because the individual groups have their agendas. The policymakers must also ensure that their decisions have a certain amount of input and override each agenda. This is because, while it is possible to consider individual needs, policymakers must consider the needs of the company and then act accordingly. This is required to discourage individuals and organizations from depriving their agendas of the decision-making process.

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