Ethics Case 3
This Case 3 focuses on how a large, well-respected financial institution can seriously put its reputation at stake and what happened to bring that about.
Begin by watching the following series of videos:
WatchMojo.com. (2016, September 15). Wells Fargo scandal: 5 things you need to know! [Video file]. Retrieved from https://youtu.be/zLm9c9rdrfQ.
Senator Elizabeth Warren. (2016, September 20). Senator Elizabeth Warren questions Wells Fargo CEO John Stumpf at Banking Committee hearing [Video file]. Retrieved from https://www.youtube.com/watch?v=xJhkX74D10M.
C-SPAN. (2017, October 3). Sen. Warren to Wells Fargo CEO: “You should be fired.” (C-SPAN) [Video file]. Retrieved from https://www.youtube.com/watch?v=AyVr4qcn8EM.
CBS News. (2018, August 3). Wells Fargo whistleblower on fraudulent banking practices [Video file]. Retrieved from https://www.youtube.com/watch?time_continue=309&v=mua-_cQOC5Q.
Pope, K. (2017, April). How whistle-blowers shape history [Video file]. Retrieved from https://www.ted.com/talks/kelly_richmond_pope_how_whistle_blowers_shape_history.
And finally, read the follow-up:
Flitter, E. and Cowley, S. (2019). Wells Fargo says its culture has changed. Some employees disagree. The New York Times. Available in the Trident Online Library, ProQuest database.
These optional sources might also be useful to you:
Armstrong, R., and Noonan, L. (2019). Wells Fargo: repairing a damaged brand. FT.Com, Retrieved from ProQuest in the Trident Online Library.
Forbes (2014). 10 simple ways to improve your reputation. Retrieved from https://www.forbes.com/sites/yec/2014/01/28/10-simple-ways-to-improve-your-reputation/#6cd6373e6b9f
Iraci, J. (2017). The complex process of managing reputation risk. The RMA Journal, 99(10), 40-43. Retrieved from ProQuest database in the Trident Online Library.
MarketingWorks (2014). 6 ways to rebuild reputation with PR after a crisis. Retrieved from https://marketingworks360.com/2014/03/marketing-tips/6-ways-to-rebuild-reputation-with-pr-after-a-crisis/
Address the following in a 3- to 4-page essay demonstrating your critical-thinking skills. It should be written for an audience of business owners. As an ethics expert working for a national ethics association, you have been asked to address the following:
Evaluate what Wells Fargo has done to repair the damage to their reputation. What should they still do?
Should top leaders be responsible for the behaviors of its customer-facing employees? Why or why not?
In your judgment, why is this Wells Fargo situation an “ethical dilemma”? Bring in a philosophy (or philosophies) that you have learned about in this Module.
This assignment should include third-person voice, in-text citations, and a reference list. It should be evident that you followed some of the basics of APA formatting. Write a well-integrated paper with a strong introduction and conclusion, and use a few section headings (e.g., do not simply follow a Q & A format).
Bring in subject matter expert viewpoints (authors or speakers) to validate and support your writing. Utilize at least 3 sources that are not included as background readings in this course and use ones that are new to you. These sources, for example, can be found by searching the Trident Online Library databases (such as Academic Search Complete, Business Source Complete, Skillsoft Books 24×7, and/or ProQuest Central).
General References Useful for Preparing Graduate-Level Papers:
For a list of general reference sources related to locating library sources, using APA formatting, applying critical-thinking skills, and so forth, see General References Useful for Preparing Graduate-Level Assignments. It is not required that you read these sources page-by-page, but rather use them as guides.
Your submission will be evaluated using the following criteria from the Case grading rubric, located in the Case dropbox:
Assignment-driven criteria: Covers all key elements of the assignment in a substantive way.
Critical thinking: Conceptualizes the problem. Multiple information sources, expert opinion, and assumptions are analyzed, synthesized, and critically evaluated. Logically consistent conclusions are presented with appropriate rationale.
Business writing: Mastery in written communications and a skilled, knowledgeable, and error-free presentation to an appropriately specialized audience.
Effective use of information: Locates relevant and quality sources of information, using strong and compelling content to support ideas, convey understanding of the topic, and shape the whole work.
Citing sources: Mastery using in-text citations of sources, proper format for quotations, and correct format of full-source information in the reference list using APA style (bibliography).
Timeliness: Assignment submitted on time or collaborated with professor for an approved extension on due date.