Wells Fargo Essay

The Ethics of Business

There have continuously been complications with the application of moral standards in the business environment. What is considered the correct ethical act on a daily basis outside of employment could be entirely different in a business setting scenario. Numerous philosophers have endeavored to reason out rationalizations as to why ethics is considered different in business and have formulated different techniques of methodizing, representing, and commending concepts of what the right moral action should be in certain business situations. Recently Wells Fargo has been involved in a scandal where the business opened millions of unauthorized accounts to ensure high sales. Wells Fargo subsequently fired around 5300 mid-level

This article is a good example as to how Swanton’s view could lever apparent role conflict, and conflict between role ethics and ordinary morality. Understanding Swanton’s view is the first step in the process to tie the Wells Fargo case into business ethics. She is of a mind that business has a distinctive purpose, and in each business there are virtues that are role differentiated. Contrary to some philosophers she believes that there is no disagreement between being good in a business role and being a “good human

This example relates back to the thick and thin accounts of prototype virtues. Swanton states in her article “Pursuing profit does not allow for maximizing profits without ethical constraints” (p.223), so in my opinion I think that she would agree that as an executive in charge of all of those employees, she chose to enhance the company at all costs. The loyalty Tolstedt showed Wells Fargo as a company provides indicators for excess which is erroneous. In this case it cost all of those mid-level managers and employees their jobs. So the question is whether this aligns with Swanton’s view. I would have to say that yes there are parts that can be explained through Swanton’s view. Tolstedt was working in the company’s best interest regardless of the consequences to her employees so this is not a good example of loyalty in an executive standpoint, she can be loyal but not in that way. She explains that the rules are controversial so it is hard to pinpoint exactly how her theory is wrong. The main concern of the executive is to increase sales and ensure that the relation to that field of concern is appropriate. The concept of loyalty in this case is the prototype virtue. The executive has an idea of what should be done and has somewhat of a guidance as to how she should accomplish her