The Real Reason Wells Fargo Fails the Noble Purpose Test

When the CEO said, “Cross-selling is the centerpiece of our strategy,” I knew they were doomed to fail. Wells Fargo is back in the news, and no one should be surprised. When then CEO John Stumpf told the sales team cross-selling was the number one goal, he opened the.

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Wells Fargo and Volkswagen: The Cost of Quarterly Capitalism

Here we go again. Wells Fargo was recently fined $185 million because thousands of their employees set up millions of fake accounts customers didn’t ask for. Here’s what happened: The employees were incented to open additional accounts for existing customers. The sales goals were aggressive. Employees were evaluated, ranked.

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