Ethics & Recent Wells Fargo Scandal. Business & Marketing Essay

Ethics and Wells Fargo Scandal
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February 2, 2020
Ethics is perhaps one of the most important aspects of running a business. It allows, not only the possibility of increasing profits but also promotes the responsibility of balancing monetary returns with service and the consideration of others. However, ethical decision making is also one of the most challenging things to do for every manager. It requires enough courage, strength, and insight into every possible repercussion that one’s decision will do. To illustrate this, it is perhaps best to look at the Wells Fargo Scandal. In this scandal, the company and the management executives were both charged with the crimes of fraud and cross-selling among others. It was said that one of the reasons for the increase of such fraudulent programs was due to the incentive programs that place more emphasis on sales goals rather than the security and safety of the clients’ accounts. However, opposing perspectives also argues that the implementation of a ‘sales-...