Performance management is a key part of organizational culture and leadership messaging. The way goals are set affects people’s behavior – Key Performance Indicators give employees guidance on how to act and prioritize.… Continue Reading
Posts Tagged: Wells Fargo
I had a simple (and unoriginal) thought years ago that has helped me understand why compliance can be so difficult. My thought was that people will do whatever they’re paid to do.… Continue Reading
With the U.S. government encouraging businesses to earn cooperation credit at the penalty phase of enforcement actions through the “naming of names” at the onset of investigations, there might be momentum for more executives being held personally accountable in regulatory enforcements.… Continue Reading
I’m an accounting professor turned documentary filmmaker and I study how whistle blowing impacts fraud detection and prevention in organizations.
One day while working on a lecture for my graduate forensic accounting class, I found myself intrigued by the Wells Fargo banking scandal.… Continue Reading
During most interviews, I’m asked this question or something like it: More companies than ever have compliance programs. Yet huge scandals keep making headlines. What gives?
To be fair, there’s plenty of evidence that compliance has failed: Volkswagen cheated on diesel emissions tests.… Continue Reading
One of the most common discussions in the ethics and compliance community today revolves around the idea of using corporate values to foster ethics in organizations. Though this conversation has helped practitioners move away from a check-the-box compliance approach, practices based on corporate values have unwittingly created a check-the-box approach to ethics, obscuring the disconnect between external values and what the organization actually values.… Continue Reading
I wish I could write a headline as great as the above banner which appeared over a piece written by Thorton McErney in Dealbreaker.
It came in a story about the actions of a group of institutional shareholders in Wells Fargo, led by the Interfaith Center on Corporate Responsibility.… Continue Reading
Hardly a week passes without at least one corporate crisis in the news, often with unpredictable and long-term negative consequences, impacting not only the organization’s reputation, but also all its internal and external stakeholders.… Continue Reading
Trust Across America’s focus has always been on finding and highlighting the “best in breed” corporate citizens while leaving the worst for the scrutiny of others. But today is only Wednesday and my inbox is swamped with so many trust busting stories that my head is spinning.… Continue Reading
In his most recent book Thank You for Being Late, Thomas Friedman cited BusinessDictionary.com for the following definition of culture:
It is the “pattern of responses discovered, develop or invented during the group’s history of handling problems which arise from the interaction of its member, and between them and their environment.… Continue Reading
In the prior post, we talked about reasonable goal setting that can turn into perverse incentives, leading to compliance and reputational disasters like Wells Fargo. In this post, we look at whether companies can contain the excesses of their incentive programs with controls.… Continue Reading