Thursday Sep 3 at 5:24pm
Wells Fargo was known as one of the greatest banks they were known for their loyalty to the customers through prosperity, war, and depression. The Wells Fargo bank extended from state to state and online banking. In 2016 the bank, headquarters in San Francisco, and California were involved in a huge scandal. The bank was accused of fraudulent sales practices. Most of the employees and leaders were involved and fired for taking part in fraudulent activities. (Cavico, and Mujtaba, 2017, p.4). Wells Fargo was in the news for having a leader that was creating fraudulent accounts. The bank has been accused of being dishonest therefore they will need a change in behavior and culture for the environment of the company. Wells Fargo will need to undergo a functional structure that specializes in units that report to authority such as top management. The company required new leadership to get the company running effectively again. Wells Fargo is a diversified, community financial services company. The Wells Fargo leadership in the human resource department will be affected by the organizational Change because the leaders of the department were not being honest most of them were fired now with the change the department will be running different. The bank should have a transformational leader to transition the bank from one stage to another to ensure effectiveness that every department has effective leaders. The steps that would be used for change within the HR department at Wells Fargo are to hire a transformational leader, redesign the values of the company, hire recruits, and exercise more authority and employee training. The appropriate actions for department leaders to plan is to communicate the strategic plan that will be used for planning the change, ensure the employees that the plan will benefit them as well as the company. Monitor the steps that are taken for the plan and receive feedback about the change process. Actions for department leaders to implement and manage the change are to provide a clear vision of the change and an adequate time frame for the process to take place.
Reference
Cavico, F. J., & Mujtaba, B. G. (2017). Wells Fargo’s fake accounts scandal and its legal and ethical implications for management.SAM Advanced Management Journal (07497075),82(2), 4–19.Leadership and Governance (n.d)
Thursday Sep 3 at 5:41pm
Week 5 - Discussion 3
Organizational Change Intervention Proposal
My organizational change intervention proposal will cover Walmart and implementing a new system that allows customers to price match from the competitor's stores like they use to do in the past. The implementation will enable the customers to price match item(s) from other stores instead of ordering the product and waiting for it to ship to their home. Since Walmart has done away with the price matching system that use to allow the customers to price match from Amazon, tire factories, and other small-town supermarkets, it is a good idea to allow it to happen again.
Sam Walton envisioned Walmart as the small-town store that everyone flocked to because they could make one stop and pick up grocery items and clothes and other household items if needed. When Sam opened Walmart in 1962, the slogan then was “always low prices” since then; it has changed to “save people money so they can live better.” So, my invention, I believe, will make the old customers flock back to Walmart and shop because they will save time waiting on their product to arrive with the new price matching system.