Unrealistic goal setting resulting in an ethical dilemma within organizations: Wells Fargo Bank Case

Unrealistic goal setting resulting in an ethical dilemma within organizations: Wells Fargo Bank Case

A hypothetical or actual business problem that might lend itself to action research.

Unrealistic goal setting resulting in an ethical dilemma within organizations: Wells Fargo Bank Case

Description of the problem

One of the most common business problems in the world today is that of unrealistic goal setting resulting in an ethical dilemma within the organization.  The management may push the employees to attain some unreasonable goals, and this may lead to ethical dilemma. These predetermined and imposed goals may not put into consideration the past trends, thus making them irrational in the first place.

Questions needed to be answered.

1. Which is the past trend that may be relevant in goal setting and future projections?
2. What is the implication of the predetermined unrealistic goals for the success of the firm?
3. What role should the employee play in the face of unreasonable goals?
4. What is the organizational capacity to attain the set goals?

Action plan

Analysis of the past trends is one of the priority considerations that the management should have in mind. In this case, the responsible authority should observe the operations of the business for the past couple of years, and this can be up to 5 to 10 years. Doing so will help in coming up with sound and reasonable goals to be attained. For instance, if the firm has been having on board five thousand clients on average every year for the past five years, then it will be unreasonable for the management to push the employees to bring on board thirty thousand clients by the close of the given year as its new goal.

Expert advice and consultation is the other step that the management should take in goal setting. In this case, the authority should seek ideas and opinions of experts. For instance, it would be prudent enough if the management would consider asking experts about the possible actions that the employees may portray in the face of unethical goals. Apart from that, the experts should also be consulted on the assessment of the capacity of the organization in goal attainment.

Last but not least, the employees, or rather, the sales teams, should also be involved in the goal-setting. This will help in ensuring that the set goals are achievable and make sense to them. Apart from that, employees’ involvement will reduce resistance and will, at the same time, increase the chances of goal attainment.

Types of data

            Both qualitative and quantitative data will be collected from the action plan. Qualitative data will be derived from the opinion and ideas given by experts on the possible actions by the employees. This type of data can also be derived from consultation with the employees on advising the management on the goals that seem reasonable to them.

On the other hand, apart from qualitative data, quantitative data is the other type of data that will be derived. This data will originate from the past trend of the firm in regard to its sales and marketing. The quantitative data may take the form of the number of clients brought on board for the past couple of years or months under analysis if the goal is based on the number of clients.

Evaluation and reflection on data

The provided quantitative data will be evaluated using the accuracy of the organization’s records. In this regard, in case it is noted that there were some errors in initial data entry, then such data must be rectified before any decisions are made based on it. Apart from that, the evaluation of provided qualitative data can be done by determining the length of experience of the respondents, who, in this case, are the experts in the field and the employees. Last but not least, there is one main action that I will take in the next iteration, and this will be coding of data based on the experience of the respondents and the validity of the source. This will help in ensuring that a sound decision is arrived at on the issue at hand.

3 Different methods of data collection that will be used in action research.

Three main methods of data collection will be used in data collection in action, and these are stakeholder interviews, documentary analysis, and observation. The three methods can be outlined as below.

• Stakeholder interviews.

This method of data collection will be suitable when collecting opinions and ideas from experts. Apart from that, this method will also be useful when engaging the employees in joint consultation with the management on matters goal setting. The rationale for the selection of stakeholders’ interviews is based on the premise that various stakeholders, such as the experts and employees, will serve as respondents in data collection. Stakeholder interview is a suitable method of data collection as it provides a wide array of information as most of the collected data is individual opinion from various persons.

Strengths of stakeholder interviews

1. First-hand information based on genuine opinions can be derived.
2. Large volumes of data can be collected.

Weaknesses of stakeholder interviews

1. There may be a wide variation in responses given, hence making it difficult to carry out an analysis.
2. Stakeholder interviews may be time-consuming in terms of setup, feedback, and reporting.

• Observation

Information on the trend of the organization can be derived through observation. The rationale for the selection of observation as a technique of data collection is that trend analysis can be effectively be done only through observation. Observation is a suitable method of data collection as it does not require special knowledge apart from the analytical skills.

Strengths of observation

1. It does not depend on the willingness of the participants.
2. There is greater accuracy.

Weaknesses of observation

1. Misjudgments and lack of proper interpretation may be the biggest challenge.

• Documentary analysis

This method of data collection will also be useful in trend analysis. In this case, the various company records, such as the sales records will be reviewed. The rationale for the use of documentary analysis is based on the fact that some documents will be involved in data collection. Documentary analysis is a suitable method of data collection as it is backed by evidence.

Strengths of documentary analysis

1. The information collected is based on solid evidence.
2. The data collected is from secondary sources, and can thus be adequately referenced.

Weaknesses of documentary analysis

1. Misinterpretation of the records in the documents.

SLP
PROBLEM STATEMENT: Leadership Skills to Succeed in Business Management**

1. What are the best and most recent management skills in business?

One of the best and most recent management skills in business is that of ethical sensitivity. This skill helps in minimizing liability on the side of the management. The other best and more recent management skill in business is that of cultural competence. This is whereby the manager is expected to be familiar with the cultures of the various employees and partners.

2. What are the success factors of an organization with the most competent leader?

Increased market share is one of the success factors for organizations with competent leaders. Apart from that, low employee turnover, along with increased sales volume, is the other success factor of an organization that comprises competent leaders.