The principle of honesty when going about business
The principle of honesty when going about business has been overlooked and has consequently led by the insatiable appetite for quick company success and shoddy money-minting deals. Business leaders all over the world, ranging from managers to company sales executives, need to grasp the importance of laying down formidable strategies in achieving success to shut off the greed for shortcuts completely. The business leaders are bound to take their junior staff through rigorous training of selling and marketing their products. The instructions act as guiding principles to help the employees win clients in their respective working environments. Business leaders also need to understand that not all employees corrupt. Some are ethically grounded and cannot stand shaky business practices.
Wells Fargo Company should have stuck to the cardinal rules of honesty in business. Imposing abnormal targets for employees largely contributed to the collapse of the company. Fargo should have evaluated and analyzed the market trends and settled down on the available sales range. To avert the shady sales practices, Wells Fargo Company should have subjected the employees to intensive sales training before releasing them to the market. The training would have been effective in ensuring that the sales representative offered themselves without coercion.
The company CEO John Stumpf taught the values of dishonesty in business. The virtue of him believing that the creation of over two million fake customer accounts would help the company reap big pronounced a company grounded on malice and shortcuts. Such practices would consequently affect company operations even in the future. Employees will imbibe in the culture of using unethical means to meet their sales targets. Business leaders ought to transparently transact services by signing and abiding by the company’s code of ethics and translating it to the employees.
My deductions on the short excerpt emphasize on the need to restructure business operations. Business and entrepreneurship are social functions that hold high regard and ethics. The urge to succeed in the business space through unprecedented moves has proved futile over the years, and this calls for the uprise of legitimate businesses entirely.