For any business, be it small, medium, or large scale, it is ultimately crucial for business leaders to come up with ways that seek to promote a certain code of conduct and ethics in all business practices, more so in sales and marketing. By clearly communicating and defining an expected code of ethics for selling helps an organization in meeting its ethical selling responsibilities and obligations.In the aftermath of the Wells Fargo cultural meltdown, many observers and analysts argued on whether the CEO Stumpf and other business executives were the main sources of the problem. While it is ultimately important to take note of the consequences of the scandal, it is also vital to lean back and assess the main causes of the scandal and how the organization’s internal culture reached such a breaking point, and if it was possible for Wells Fargo to avoid the scandal in the same sense.
Stumpf lobbied for and supported actions valuing the people as a competitive advantage. The company strived to retain, develop, motivate, and attract the most suitable and talented individuals they could find, individuals caring enough to work hand in hand as partners across business functions and units. Wells Fargo sought to equip them with the necessary training and tools to succeed in the workplace.Stumpf also modeled leadership values, with the belief that everyone was called out to be a leader. He believed that leadership was not only preserved for the senior executives but everyone. Leadership was defined as the process of communicating, sharing, and establishing the company’s vision and the art of motivation towards others such that they embrace and understand the company’s vision.
It is ultimately crucial for staffers and business leaders to focus on attaining key company objectives and enhancing the good positive working relationship in the workplace. However, it is equally essential to promoter ethical conduct and behavior among the employees. Ethical behavior makes sure that the company maintains a positive reputation for effective and sound professional values and principles which act in support of the company’s vision and overall mission. Leaders may devise various approaches and techniques when it comes to promoting ethical conduct among your staff. To begin with, it is ultimately crucial for leaders to train employees so that they are aware of the organization’s code of conduct. Additionally, other approaches may include rewarding ethical behavior among employees, considering how the employees are treated, and leading by example.
While designing systems to encourage ethical behavior, it is ultimately crucial for leaders to lean towards the creation of an ethical culture first in the organization (Epley& Kumar, 2019). Ethics should be viewed as both a design and a belief problem. In the design of an ethical culture, features such as cultural norms, incentives, and explicit values have to be addressed. Practices and strategies ought to lean on clearly outlined beliefs that can be shared across the business. This can be achieved through a well-crafted mission statement but only when correctly used. It can be used as a reference guide while formulating new initiatives or strategies.
Nicholas Epley; Amit Kumar (2019). “How to Design an Ethical Organization.” Harvard Business Review. Retrieved from https://hbr.org/2019/05/how-to-design-an-ethical-organization. Retrieved on 12 November 2019.
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