You are Tim Sloan, newly appointed CEO of Wells Fargo Bank during early October 2016. Wells Fargo is embroiled in a deep & spreading scandal and is under intense Congressional scrutiny. As Tim Sloan, you now need to determine a course of action to address this crisis based on the below questions and time is of the essence as you expect to confront this matter over the next few days:
A. You need to draft a maximum 2 page Word document (Arial & font size 12; Single Spaced) with effective business writing & grammar for your Board of Directors for items #2 thru 5 below.
B. What is the Ethical Problem that confronts Wells Fargo Bank?
C. What are your takeaways based on the 3 Ethical Principles (Utilitarian, Duty Based, and Virtue), just the most critical issues, not a comprehensive 5 step ethical decision-making process (due to limited time)? Of the critical issues you derive, please explain why?
D. What will be the ethical principle you will be applying & why? What is your relevant analysis to support (include simple calculation & sources)?
E. For your plan, what are the high priority actions (up to 3) that you must address? What is your relevant analysis to support (include simple calculation & sources)?
Articles to Read:
1: Associated Press article + Video (5 minutes) https://losangeles.cbslocal.com/2016/09/29/rep-maxine-waters-calls-for-wells-fargo-to-be-broken-up/
2: Wall Street Journal – Tim Sloan, the CEO Replacing John Stumpf https://www.wsj.com/articles/tim-sloan-the-ceo-replacing-wells-fargos-john-stumpf-1476363053?emailToken=e40abf0e1cbe8965684cd085e0653111wyPkmyTu78LaJMfJEBuuwH8+3P0jwjR0fprEM14JHfusG+ZmVOV/BzgLnKneC4WXGqlY6iiTsEtgbwTn25YXawQJeaHRfbd/xGrXmu92Xx0%3D&reflink=article_email_share
Note: Based on the above 2 articles & 1 embedded 5-minute video, there should be sufficient information for you but you may Google/research for other pertinent information you need. However, I can care less about what actually happened, and reciting what actually happened merits no grade. Your grade will be earned based on your original insights and business writing. Just reciting comments would earn no points and may have negative implications due to plagiarism.
Point Grading on Deliverable:
0.5 Point for reasonably clear & grammatically sound Business Writing, along with using Word document, Arial & font size 12. Note: After I return your paper and you want to followup on business writing, please review first with Baruch’s Writing Center for improvements before requesting a session with me.
0.5 Point for effectively meeting A, B & C above
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