Wells Fargo
Wells Fargo
Order Instructions:
Requested deadline Friday 2/12/16 must be at least 5 pages, which doesn’t include title & reference pages, using APA formatting. Each paragraph should contain at least 4 sentences and should not end with citied material ex. (Franklin, 2015.) Each paragraph MUST have supporting information from the reading assignment, for this assignment review weeks 3-5.
I am including the actual assignment from the course as well as the headings required, the chosen company is Wells Fargo. Please use the following to access South University’s as all information must be supported by the weekly lecture & text reading (located under the syllabus tab) as well as the school library. Lecture readings from weeks 4. INTERNET SOURCES ARE NOT ACCEPTED. Feel free to contact me at 334-201-0479 I have also included the grading criteria.
https://mycampus.southuniversity.edu/portal/server.pt
User Name – tiffany_shakepeare
Password – Pr@1seH1m
Once you have logged in successfully you have to click launch class and then click the academic resource tab to access the library. When you click the syllabus it will give you access to the weekly lectures & text readings.
Please remember ALL references must come from these areas.
Please see attached document for required headings. **Reminder each section must be supported by information from the assigned readings weeks 3-5.
SAMPLE ANSWER
Introduction
In order for an organization to achieve its objectives within a business environment, it is essential that some elements are considered. These elements include the manner in which the organization develops a culture of governance through leadership and how these leaders communicate within the organization (Feizabadi, Hamidi, Khatibzadeh, & Ghamati, 2011). This paper therefore aims at determining the manner in which leadership approaches are incorporated within the functions of Wells Fargo and the effectiveness of communication in achieving the organizations goals.
Communication Structure
According to week ones materials, communication is a very important aspect in organizations in leadership of teams. According to the course material, communication is ascribed as the process through which information is exchanged and understood by two parties or more with the intention of influencing or motivating a behavior (Schmitz, 2016). In order to improve the element of communication within a workplace, it is essential for the managers to be aware of the elements that influence the manner in which people communicate.
Managers therefore have the sole responsibility of gathering information from both the inside and outside of an organization and dispense this information within the organization. The manager’s approach therefore seeks to divert the attention of the entire organization towards the values, vision and the desired goals of the organization with the aim of influencing the employees to act in a manner that ensures they achieve their goals (Schmitz, 2016). In this, it is therefore essential to determine that the managers remain the main facilitators of strategic conversations through the inclusion of open communication that actively listens to the views of others, asks relevant questions and provides feedback to learning and change.
This is the case at Wells Fargo where there is a communication structure put in place. Wells Fargo has employed a decentralized approach to communication that allows the workforce to freely communicate with other team members with the aim of meeting a goal (Schmitz, 2016). This approach therefore allows the members to process information amongst themselves until they reach a consensus and is considered an effective approach especially in work environments where work mates needs free flow of communication within each department.
According to the class notes provided on week four, Schmitz (2016) supports the fact that in organizations where the communication network is not centralized, employees have the free will of passing information at ease. However, with the decentralized communication approach as depicted in the case of Wells Fargo, all the employees are involved in the process of communication, a factor that sees the organization arrive at a mutual decision that binds all of the work teams. Wells Fargo therefore incorporates other communicational channels such as the inclusion of short messages, face-to-face communication and phone conversations among other channels. This has enabled the company be achieve its organizational goals irrespective of the fact that there are barriers and hindrances to communication within the organization.
Influence of Culture
It is essential to determine that cultural values are a vital element within an organization and are blended with the company’s environment, goals and strategy. According to the notes, the right fit between an organizations culture, strategy and the environment are associated with different cultures (Schmitz, 2016). In this case, it is essential to determine the fact that culture determines the personality of an organization and is comprised of the values, beliefs, norms, assumptions and tangible signs of an organization members including their behaviors.
Wells Fargo therefore believes in a culture of developing caring mindsets to life whether the company interacts directly with the clients or works with them behind the scenes. This culture has therefore influenced the manner in which the employees carry out their functions, a factor that has seen the organization meet its goals (Schmitz, 2016). Culture additionally shapes the manner in which employees relate and communicate with each other within the work environment with this enhancing the skills of the employees.
Barriers to Communication
Sources from the class noted depict that there are several barriers to communication a factor that is prevalent at Wells Fargo and other organizations. Ignorance from some members of the workforce has been one of the barriers to communication that has seen the organization largish behind in the achievement of its goals (Pozin, 2012). Employees within this organization are in disposal of valuable information that can improve the productivity of the entity but fail to share such information.
Language barrier is additionally another barrier to communication in this company. Considering the fact that the workforce in this company are of different cultural backgrounds, the element of communication tends to become a challenge to them, a factor that decreases the productivity of the company (Pozin, 2012). The class notes delivered in Week 4 clarifies that Managers need to develop an environment that enhances the element of communication. This has seen Wells Fargo develop an open bounder less approach to communication with the aim of breaking the barriers that stand on communication.
Methods to Overcome Barriers
The fact that there are barriers to passing information does not mean that it is over for an organization. The leadership in Wells Fargo should ensure that all barriers to proper communication are managed efficiently (Pozin, 2012). An instance of this can be seen through the inclusion of symbols to ensure that the element of language barrier is dealt with effectively. Training of employees is another approach of ensuring that some of these barriers are dealt with successfully. Training the employees on the importance of attaching value to any obtained information would be very useful in doing away with a barrier to communication such as ignorance. With this, all information passed among the workforce will be received with seriousness thus fostering effective communication.
For the purpose of overcoming communication barriers, the leaders should select appropriate communication channels to incorporate within the functions of an organization. The selection of a communication channel can be done through an analysis of the advantages and disadvantages associated with each communication channel. Schmitz (2016) states that there are both the positive and negative aspects of each method selected in passing information. Additionally, the leaders should grow a strong understanding of givers and takers in the organization. In one study, Grant determined that the single biggest predictor of a team’s effectiveness was the amount of help and support that members gave to one another’.
Leadership Style Analysis
At Wells Fargo, servant leadership exists. This is a type of leadership where the workforce feels the leader is not all about him, but focuses on the interests of the employees. According to the materials offered in week one, the element of servant leadership operates in two dimensions. The first entails the fulfilment of the goals of the subordinates and their needs with the aim of meeting the larger purpose of an organization. Secondly, servant leaders are the givers of power, recognition, ideas, information and credit for the accomplishment of goals and objectives. The servant leadership approach in Wells Fargo has been brought about by the leaders who value team work (Pozin, 2012). This has been useful in fostering a positive response from the workforce. The servant leaders in wells Fargo believe that the workforce has to benefit from other aspects apart from remuneration.
Types of Leaders within the Organization
Different organizations apply different leadership styles in achieving their organizational goals. In Wells Fargo, it is significant to note that there are different leadership styles employed. Many of the leaders within this organization are considered as servant leaders who work for two primary reasons that include fulfilling their subordinate’s goals and achieving the bigger picture of an organizations purpose (Pozin, 2012). Servant leaders are known to give things away such as information, power, ideas, and so on.
Additionally, at Wells Fargo, there are authentic leaders as well who are known as people have an understanding of their selves and who act in consistence with ethical values within an organization. On the other hand, these leaders’ also have the capacity to inspire others with their authenticity and openness with this inspiring commitment, trust, and respect in organizations (Pozin, 2012). It is worth noting that the authentic leaders end up motivating the workforce through their openness. The servant leaders end up motivating the workforce through showing that it is good to work as a team. Authentic leadership is known to bring about trust and commitment in a company.
Level of Trust within the Organization
Wells Fargo has been able to witness commendable positive strides in terms of trust. The presence of the authentic leaders has been able to develop such trust. This has led to more commitment from the workforce. With such trust, the flow of communication has been effective, something that has contributed positively to the operations of Wells Fargo (Grant, 2013). The human resource management in the organization has also assisted in the high level of trust in the organization. This has been through the management of talent in the organization. This has been an important thing since the human resource management has led to a high level of competitive success of the company.
Recommendations for Improvement
All organizations are supposed to ensure that they improve in communication and leadership. Wells Fargo needs to broaden the scope of its communication structure. Any weaknesses should be done away with to allow efficiency to grow in the communication structure. The leaders should ensure that all communication channels are made better and efficient. Regarding language as a communication barrier, Wells Fargo should create symbols for the organizations to pass some important information. The leaders should also improve on their leadership styles to ensure that the level of trust is made stronger.
Recommendations for Motivating the Workforce
All organizations should ensure that the employees are fully motivated. Motivation of employees refers to boosting the morale necessary for achieving a certain objective of an organization. Therefore, the workforce at Wells Fargo needs to be motivated for better results. The management at Wells Fargo needs to use compensation as the major method of motivating the workforce. The company should be able to pay good perks to the employees for work well done. The salaries of the employees should also be reviewed regularly for the employees to feel valued thus motivating them. Wells Fargo should also improve the working environment for the workforce.
Feizabbadi, Hamidi, Khatibzadeh & Ghamati (2011) purport that the environment remains essential for human beings at work. A team will end up getting motivated when the environment at the company is improved. Additionally, Wells Fargo should consider the use of the equity theory. Equity theory states that the workforce gets motivated when they feel that there is equal treatment by leaders. Therefore, Wells Fargo should treat its employees equally for the purpose of motivating them. The goal setting theory can also be helpful to Wells Fargo. This theory of motivation states that the workforce can be given specific interesting goals to pursue with the management participating in checking progress, something supported by Pozin (2012) by saying that if you want happier employees get rid of the bosses.
Conclusion
The decentralized communication structure employed by Wells Fargo has been able to improve the trust in the organization. It is advisable to have the management of the company keep on reviewing the structure in place. The leaders should be able to put in place ways of removing the barriers to proper communication (Pozin, 2012). The servant leadership style at Wells Fargo should be improved continuously. The fact that trust has been high in Wells Fargo does not mean it is sufficient; more trust should be sought and maintained.
References
Feizabadi, M.S., Hamidi, M., Khatibzadeh, M. and Ghamati, H. (2011). A survey of the relationship between job stress and the quality of life in sport teacher in Mashhad City. Retrieved from http://ac.els-cdn.com/S1877042811029399/1-s2.0-S1877042811029399 ain.pdf?_tid=28dca252-ceeb-11e5-97550000aacb361&acdnat=1454994690_3207d5f808abff2c0aaa06cc3fe3bb94
Grant, A. (2013). “Givers Take All: The Hidden Dimension of Corporate Culture,” McKinsey Quarterly, Issue 2 (2013): 52–65; and Grant, “Turning the Tables on Success.” 44.
Pozin, I. (2012). “The Takeaway: Three Things That Motivate Employees More Than Money,” Inc. (February 2012): 6.
Schmitz, S. (2016). Managing Communication. Retrived from https://digitalbookshelf.southuniversity.edu/#/books/9781305809772/cfi/12/10!/4/2/6/2@0:40.8
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