Question

Using what you know from the Competing Values Framework from the chapter, describe and provide an example of the culture at Wells Fargo at the beginning of the case. Chapter 8

Answer 1

Competing Value Framework and Work Culture Analysis

Well s Fargo company work culture analysis under the leadership of Kovacevich and Sloan is conducted in the report. Richard Kovacevich has a good name in the company as CEO because he introduced a work culture that aimed to achieve big goals and objectives. After his appointment as CEO of the company, he developed a strategy to make the banking services as a personal service to provide customized response. This effort by him suggests that he practiced a customer oriented work culture. He made sure that work culture of the organization took steps in terms of cultural transformation. Lean principles are adopted by the bank to support personal banking vision. Remuneration package was changed as well as long term development of employee was considered important by the organization. Kovacevich leadership also promoted leadership development of employees. These factors are essential to make a better work culture.

If the work culture under the leadership of Kovacevich is determined on the basis of competing value framework, it can be said that the work culture places stress on building employees skills and knowledge, provides better communication system, considers external impact on business, and promotes support for development of employees. These efforts suggest that a human relations model is being promoted by the organization at that time. It also reflects that the organization considers internal process model as well.

The leadership of Tim Sloan also created a better work culture. Under his leadership, the bank became a better bank after the fiasco that caused bank to suffer from low trust and dilution of brand image. Under his guidance, the company introduced a substantial transformation of work culture and introduced a simple and better focused values, visions and goals of the company. Behavioral expectation desired by the employees is also clearly communicated. Accountability of employees is built. Wells Fargo also introduced hike in minimum base pay to enhance commitment of employees. The company made process of reporting concerns to employees. During his leadership, innovation is created for customers as well as risk management practices are enhanced. These initiatives suggest that the work culture of the company is improved. The work culture fosters customers friendly and community friendly values and it is reflected by the initiatives of serving well the customers and deepening the community impact. Analysis of work culture under Sloan leadership reflects a use of rational goal model as well as an external focus for the development and well being of the organization.

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