Wells Fargo: A Culture of Corruption - A Case Study for Entrepreneurs

Subscribe to Valuetainment:Wells Fargo Case Study for Entrepreneurs- The Biz Doc, Tom Ellsworth dives into case study #6 with a lesson on running sales incentive programs without control. This lesson is derived from Wells Fargo an American international banking and financial services holding company that was fined over $185 million for abusing its customers.Come see what happened! Grab your notebook, take notes and join the conversation as Valuetainment brings you case studies with The Biz Doc - a new way to learn entrepreneurial lessons.Please subscribe, comment and share to help educate entrepreneurs from all over the world. About Tom Ellsworth: THOMAS N. ELLSWORTH, is an experienced CEO / COO and entrepreneur. He has been disrupting industries and driving consumer shifts through Venture-backed companies in technology, software, publishing and mobile that have generated exits totaling over $1B. Watch the interview with Patrick Bet-David: Connect with Tom: About Wells Fargo: Wells Fargo & Company is an American international banking and financial services holding company headquartered in San Francisco, CA USA. Valuetainment- The Best Channel for Entrepreneurs

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Comments

These case studies are like bed time stories for entrepreneurs. How do we make sure our banks are not doing this to us?
Tom, the valuetainment team should do a case study on PHP Agency. It would be nice to see how a young successful company started and grew its company culture. Thanks for the content.
Thank you for the value.
Aww you didn't say DAYUMM xD
So interesting. Some times we're not aware of so much things that are happening. Thank you for such inyeresting material.
They don't "off" people?They almost did me by stressing me to the point of near heart attack by their ruin and harrassment. it waa evil. And they did many things to cause the problem, then blamed and harraased me - and I am a cancer survivor so they made me really sick. I doubt they are finished yet.
Audit all sales reports dont just trust sales people
I tried telling my girlfriend about how corrupt WF is for years now, yet she still banks with them zzz. Thanks again for these case studies Tom and Valuetainment. Great stuff.
Still going- great video Tom.
You have control your sales people so they dont cheat and get you in trouble by having some people controlling people
Hi Tom, kindly make a case study on Avon, I really appreaciate you works, Im starting a business soon,been preparing for it for the last two years, thank you.
Case studies are the most valuable and appreciated !
I have experienced this in the place I used to work. Those audits and controls are 100% required.
3rd
2nd
My goodness Tom, if could afford a small couching time from you i would do it in a heart beat, so simple but yet so much VALUE on each one of your case studies, cheers !! PD. If you ever come to Mx i would gladly get you some good ol' Tequila.
My 3rd video for case studies done
Who gives a shit about Wells Fargo when you have the SOB's at the Federal Reserve infalting the market and making prrices higher.
Very informative... Lesson learnt...
I'm gaming with Samir
Sales incentives or performance that live without audits to ensure rules are not bent out of temptation is a recipe for disaster. A culture of accepting "end justifies the means" will eventually reach the top - and for an entrepreneur - that's you and your hard work to build your company.
Hello
Awesome video man, I will never forget this
Great study Tom !! Thank you once again
Maybe sometime in the future we can see a video about VW. Sounds similar to Wells Fargo
So horrible 😱they let this corruption grow so big.
Great stuff on these case studies
Thanks Tom, I seriously appreciate the lesson.
Time and time again never fails...all these ceos or upper management corporate officers live a double standard hypocritical lives...leadership skills? where? it's really really sad..look at south korea president...what a shame!!!! sick
I patiently wait every Friday for the Case study series. I love love this series. Valuentertainmant best channel on YouTube. great job team. P.S I wonder how many of those racing shirts Tom has left πŸ˜‚πŸ˜‚ . Signature look
I used to work for Wells Fargo. Good stuff Doc.
Can you do apple case study
I'm glad that I watch your videos
Great case! Will you do a video on Valeant?
Great Video! However, which bank would you suggest that StartUp entrepreneurs do business with?
Wells Fargo is one the worse banks out there. Damn crooked and corrupt if you ask me.
I love these case studies! It's so informative and I feel like I'm absorbing so much. These videos definitely add value to the college education I'm currently getting. Thanks guys.
Do you think we can trust these kind of banks? Wells Fargo got it's head on by this. Bank of america got something hidden as well. Unauthorized payment is the one we should really be aware of. Thanks for the story of history for these company.
Now that he mentioned it, a Mafia Case Study could be pretty entertaining...
I really enjoyed this case study, especially since this was recent and made public in our media. Awesome job Tom πŸ’ͺ
This story is so powerful, I love it so much. I listen to the whole story like a child listen to daddy story. Man...
Love Tom's delivery!!
Awesome and insightful
Thanks for this video
I love how you present the Case studies Tom. Thank you.
I absolutely love this segment ''case study'', very informative.
I hear constant complaints about chase bank these days, people losing money in their accounts, and the bank taking a month or two just to close the account.
I love the case studies. I always Wait for it.
Ohhhh Tom you legend i can't wait for friday to hurry up great content once again from the team at VALUETAINMENT!!!
Love the series
AWESOME VIDEO! THANK YOU.
Great lesson for evey CEO! I heard about this on the news but now I understand what happened. Tom, your case studies have been teaching me great business lessons and things never to do in my business. Thank you for creating such great contents. I am always looking forward to your next case study.
Loving these videos! Keep'em coming Biz Doc ;)
Great presentation, your shirt looks dope, whoever designed the thumbnail did a great job.I have a question -Life after a scandal, can a CEO who has been fired due to a scandal ever recover his reputation and perhaps ever get a CEO title again with a respected company or is he marked for life and blackballed?And would you work with him? Thanks
Always look forward to watching your videos thanks Tom , Patrick , Mario , Paul and the team πŸ‘πŸ»
Tom - I love the video. You're very well studied. Thanks for bringing so much value to Valuetainment. Pat - Could you make a video about how relatively new entrepreneurs should process and think about spending time away from family (specifically their kids)? Of course we all know that it is a sacrifice that needs to be made, but I want to know how you personally processed it in your earlier years and how you process it today. Most of my friends who have kids still work in corporate america and don't understand not seeing your child til after 9pm Mon-Sat. Thanks!
Great lessons here, Tom.... would love for you to analyze Marvel! They seem to be the GOLD standard in film right now. (Both with film critics and financial gains.) Not to mention, DC Comics has yet to find a way to get to their level.
I think there are so many companies who are trying to cheat with their customers which go unnoticed., like in India here BSNL tries so many times to stick some caller ringtone or any such service to its customers and deducts money from them later.
These are quickly becoming my favorite videos from Valuetainment.. always leave with more knowledge.thanks biz doc!
Always good.
First comment!! yes...This shows how much I am waiting for these video's
This guy is great
Thanks .so much..
Love the case studies!!! But the racing shirt makes me roll my eyes. Yes they own a racing team, sponsors etc. But it's over kill I feel. Doesn't effect the video at all. Just being picky ;-)
I always had the assumption that if I could be friends with all my employees and all levels of management, I would not find myself in an adverse situation. However, if I were to be best buddies with a sales representative who in turn became corrupt, I would be stuck between a rock and a hard place - mentally. An audit would be a tough move to make, especially if the sales representative was a long-time friend and foundation. Thanks for the video.
Good lesson and good message to bring the thought of alertness back to the front of the mind.
Can we have a case study on Uber since it has such exponential growth!
I LOVE this series of videos. Awesome content.
Learning a lot from all these stories great content very valuable to meand everyone ,thank you so much.
The BizDoc Tom back at it again with a Masterstroke!!
Your content is awesome. Thank you for breaking down this issue for us in a clear and concise manner. Please do Volkswagen or Chipotle in the future.
That's exactly what I,ve been against for years. Once you teach your first employee to lie and do anything to sell, your doomed. Nice Lotus shirt by the way. Thanks again for these cases Tom.
That tree roots paraphrase near the end was spot on! Keep up the good work.
Good Morning Tom, I am ready with my Note Pad
Hey patrick do the next case study on vine!
Something similar incident happened in here NZ.Now I can understand the cause for that incident. yes bad culture.
Great episode! Can you guys do one about John Legere of T-Mobile. From what I read T-Mobile was last place in the mobile carrier business until he stepped in and shook things around
Hi Tom...It was articulated in an awesome manner...great case study again with lessons to learn. Thanks for sharing.... And I'm a fan now πŸ˜€
Like it very much , very informative , tq for doing case study on failed business,
Whenever I start wondering astray on youtube, I immediately start diving back into this channel to realign. Thanks for the valuable and entertaining content.
Integrative. Great topic to discuss.
You nailed it...gave them ten years...I could tell you more stories...thanks for another great segment!
What a wonderful video!! I appreciate you guys' efforts. Thanks
Love these case studies never stop
Do you think there will always be some level of corruption once a business gets big enough?
Amazing content!!! Thank you Valuetainment!!!
Informative. the culture of deceit and corruption grew roots and become the tree i love the case studies
Tom, great Video! Love all your content! Just one question, sorry it's a little off topic, but why do you always wear a t-shirt representing several brands on it? Greetings from Germany! Happy X-mas to everybody!
Absolutely wonderful video!!!!
Another great case study, THANK YOU.Amazing how "trust and verify" is still difficult for many Leaders as we don't want to insult people.You made a great case for why these controls and audits should be a bedrock of all of our companies, big or small.Thank you and Merry Christmas.
I am currently doing my MBA and taking corporate finance class. I had to write a paper on finance and ethics, so I choose to write on Wells Fargo scandal. It makes me happy the majority of the content was very similar to yours, and I focused on the question Why as well. I feel like sending my paper to you for review.

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Wells Fargo: A Culture of Corruption - A Case Study for Entrepreneurs