Fargo Wells is a bank that has recently had to do a lot of damage control for an account scandal.after this will be a journey. Fearing that they will not make their quotas and they will not get there bonuses, certain executives forged fake accounts to meet those quotas. Making their numbers look bigger than they were, they got caught. Four executives were fired from their community banking division. In a addition, the company has undergone federal investigation and state investigation. The bank was forced to fire over five thousand employees for setting up fake accounts that clients were not aware of or did not want. Also, the company’s CEO left after a long-time relationship and career at Fargo Wells. All in all, the company went downhill quite quickly. The company, like Enron was after their accounting scandal, is more frequently investigate and regulated. Unfortunately because of the scandal, that is a process they will never get out of. They will also likely never get out of a poor online reputation. Repairing an online reputation that has an infinitely high search rate and click rate will likely require legal procedures to repair the online reputation. However, that is not a viable option seeing as most new networks archive all their news.
In the era of digital dependency and demand for transparency, businesses need to understand that their every move is being watched. Once they act in an unethical way, their reputation is shot. If they are an international name, their reputation is likely not repairable and is shot forever. The only way to bounce back at that level is to do a lot of “sucking up” and damage control. However, why let it get to that point? Be ethical before you ruin your online reputation forever.
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