Page 26 - Wells Fargo Bank (C) Teaching Note

Unfortunately, the customers became the victims of the
company. In a real sense their identities were stolen

often resulting in lowered credit ratings through the
issuing of unasked for credit cards along with

overdraft/late fees charged on unauthorized accounts.

This was facilitated by the use of digital technology which

allowed Wells Fargo employees to create multiple fake

accounts.

Culture

A corporate culture may

be viewed as comprising

two dimensions:

1. An ethical stance – the extent to which an

organisation will go to exceeding its minimum

obligation to stakeholders:

• serving short-term and long-term shareholder

interests

• multiple stakeholder interest

• contribution to society