A Review of Management Techniques and Practices at Wells Fargo Bank

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A Review of Management Techniques and Practices at Wells Fargo Bank

Over the past 150 years, Wells Fargo Bank has become one of the largest financial institutions in the North America. Wells Fargo Bank is much more than a bank. It’s a premium financial service provider. It believes in its people and products to help them to succeed. So how has Wells Fargo become such a leader in the financial world? It measures its success by its management staff and team members. Wells Fargo has developed and implemented its own management structure and answers the following questions regarding existing success:

1. How does the management team contribute to Wells Fargo’s

achievements?

2. Can managers work to create a fun and stimulating environment?

3. Has wells Fargo management policies proven successful?

4. What are the basic functions and guidelines of management at Wells Fargo?

This review of Wells Fargo management principles focuses on these four questions.

International Business

Wells Fargo provides international banking for several reasons. Wells Fargo Bank has recognized the potential of providing more choices for consumer and business customers.

Wells Fargo believes in the importance of obtaining all of the customers business and strives to provide them with choices. Consumers living in a foreign country can work closely with international personal bankers who have been trained and are available for helping with worldwide needs. Services offered are traditional Wells Fargo products as well as those specifically designed for those living abroad. Wells Fargo also accommodates foreign companies doing business in the United States. There are also many foreign banks and their customers who benefit from what the international business products that Wells Fargo has to offer. Special products have been designed for international business use for both consumer and business customers. Top level executives and store managers collaborate regularly to promote product ideas to help make accommodate any financial needs to the international customers.

Legal, Ethical, and Social Responsibilities

Legal responsibilities at Wells Fargo include a wide variety of issues. They can be from protecting customer’s rights to securing company policy. Customers trust Wells Fargo with private and privileged information. Therefore, the bank must main...

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...ager at Wells Fargo must have an eye for detail and be able to make decisions on ways to cut costs. Team members are provided with all the essential supplies relative to performing their job duties. They must provide the manager with feedback on inventory and calculate monthly totals of what needs to be reordered. Managers order supplies monthly from local vendors and compare prices online. Corporate accounts are monitored to show if excess costs can be avoided. Wells Fargo is a huge corporation and cutting costs has become a daily addition to job duties for managers. Managers must stay aware of the bottom line ands look for anyway to keep the business profitable.

Conclusion

Wells Fargo bank is the pioneer leading the way to financial services success. The Wells Fargo team is committed to developing leadership and management skills. Developing and implementing new and resourceful management techniques has made Wells Fargo Bank successful. Wells Fargo struggled in the past with outdated techniques and strategies. After creating and following its own ideas, Wells Fargo has managed to come out on top of the banking business. It has insured its success for many years to come.

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