It's Time to Look in the Ethical Mirror
With all the new coverage of Wells Fargo's fake-account debacle, I (Professor Robert Giacalone) have yet to see an answer to this pivotal question: How does one simply miss more than 5,300 wrongdoers
at a bank?
How can so many employees across so many branches go "off the rails" and no one know about it? The easiest answer: This was an ingrained practice. By firing so many employees, Wells has all but acknowledged that unethical behavior was rampant. Rather than a needle in a haystack, the huge number of employees opening sham accounts was an overt sign of an organizational culture problem.
Perhaps most frightening is that the ethical deficit in business is not limited to banking or to the United States. So what has caused this ethical breakdown?
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