Question: A one and half page summary of the focal theories that you are applying to your case and the relevant data sources, noting how they relate to the theories.
Purpose: To find the reasons for the problems that have been taking place in Wells Fargo and specifically the misconduct of its management. We will develop solutions at the end of this project to seek for better organizing the management functions within Wells Fargo.
Chosen Company: Wells Fargo
Scope: The Company in discussion is Wells Fargo and the problems related to its fraud account scandal. One of the key areas we expect to explore is how the company motivates its employees to work hard, we will discuss how well did the company do in this area and what it can improve to prevent the events such as the fraud account scandal.
The second key area would be the management structure. We have found out from one of the scandal-related report that one of the reasons for the scandal is there are too many layers of management in Wells Fargo, so that the executive managements could not get customers' feedbacks on time. So, we are looking for improvements that can be attached to its management structure to better organize the company's functions.
The third key area would be the company's ethics. We found out that the fraud accounts were beginning to be created since 2011, but the company failed to find out and stop these actions until it was disclosed to the public in 2016. One of the reasons for this failure may be the failed management functions, but we will also look for the company's ethic climate such as tone at the top.
What attracts the group members to this study is the fact that it exposes the reality of what is taking place in many companies as a result of misconduct of the management which leads to customers ending up having a lot of unsolved issues. It is solving of issues that have
arisen in this company that will lead to creation of better solutions for other smaller companies in future. This project is meant to motivate students to be creative thinkers and better problem solvers in the future and not just view an issue from one point of view.