Ethical Values In Wells Fargo

The ethical values that are part of the Wells Fargo ethics statement are totally contradictory of the words and actions that express their values, beliefs, and customs. The examples for ethical behavior are in stark contrast to what the company exhibited. Honest communication was not occuring when the customers information was being used to open fraudulent accounts (Galegroup, 2016). Noncompliance with the law, conflicts of interest, and creating a coverup of misconduct broke almost all of the ethical values that they publicly shared as their corporate culture. “It was the bank's intense pressure to "cross sell" accounts that convinced many low-level employees that it was preferable to break the law than to miss quotas”. (Galegroup, 2016 ). Stakeholders can not always see what is going on in the inner workings of an organization and must place trust in the organization to keep the culture true to its standards. However, this type of coverup and hiding of information is highly unethical since the stakeholders where totally in the dark. This is an example of how organizations can have a beautifully written document that states the ethical conduct and culture that the company represents, however, without proper monitoring and audits, abuse occurs and the trust is violated. As far as acknowledging and apologizing, this was too little too late. The “tone at the top” is a determining factor in the creation of a high intergrity organization” ((Ferrell, Fraedich, & Ferrell, 2013).

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(2013). Business Ethics: Ethical decision making and cases [9th edition]. Mason, OH: Cengage Learning. Retrieved from https://www.betheluniversityonline.net/cps.

"Labor scandal at wells fargo?" America, 31 Oct. 2016, p. 4. Opposing Viewpoints in Context, link.galegroup.com/apps/doc/A472149719/OVIC?u=tel_a_bethelc&xid=2e89e2b6. Accessed 16 Aug.