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Stumpf's Managerial Ethics In Wells Fargo

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I agree with you 100%. Stumpf’s managerial ethics filtrated down into the lower level of management, which caused them to place unreachable and unobtainable sale goals on the employees and its employee reacting unethically because of the pressure of losing their jobs. Poor management effects everyone involved. It is only right for Stumpf, the employees including the manager to be released from their job. The very thing that they feared manifesting. Wells Fargo shouldn’t be only one having to pay fines; the employees should also be held liable and pay back the profits each of them made in this scandal. Wells Fargo’s current focused is “training, monitoring, oversight, and compensation structuring” its employees. At this juncture, it is
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Wells Fargo has been in business for over 160 years and was founded on March 18, 1852, by Henry Wells and William Fargo. The company opened its first office, in San Francisco, on July 1852. Wells Fargo served the West with banking needs, which included gold and paper bank drafts, and offered quick delivery of gold or other valuables. In1855, the first of many financial dilemmas took place when a drought made it impossible to mine for gold, and this caused almost 200 businesses in San Francisco to fail, but Wells Fargo didn’t fail, they prospered. In the early1860s, Wells Fargo acquired almost all the stage lines from the Missouri River to California, giving them a monopoly on transcontinental delivery services.

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