Question

What are the major problems with Wells Fargo’s sales goals and incentives?

What are the major problems with Wells Fargo’s sales goals and incentives?

Homework Answers

Answer #1

Wells Fargo is the American multinational financial service company that provides variety range of products. Wells Fargo is the world's fourth largest bank in terms of market capitalization. Its head quarter is in San Francisco.

Problems with Wells Fargo's sales goals:

  1. Wells Fargo has sales targets on the sales managers and sales force by giving them lucrative incentives.
  2. Sales people opened millions of unauthorized accounts to meet the sale targets.
  3. Sales force is under pressure to take extra money from customers.
  4. Wells Fargo is breaking rules to meet performance goals.
  5. Customers are being forced to take investment plans so that Wells Fargo may earn recurring fees.
  6. There are many angry comments on company's internal blog related to Well Fargo's sales target and incentives.
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What are the major economic problems faced by farmers?
What are the major economic problems faced by farmers?
What do you think should be one of the major U.S. foreign policy goals in the...
What do you think should be one of the major U.S. foreign policy goals in the wake of 911? In what way do you think changes in the U.S previous goals are justified? Discuss
carefully discuss two major macroeconomic problems of unemployment and two major macroeconomic problems of inflation in...
carefully discuss two major macroeconomic problems of unemployment and two major macroeconomic problems of inflation in an economy
4) Discuss the overall outcomes/goals for a client with oxygenation problems.
4) Discuss the overall outcomes/goals for a client with oxygenation problems.
what are the major problems with the american health care industry? Explain their source, how they...
what are the major problems with the american health care industry? Explain their source, how they persist, and what keeps these problems from being rectifed.Juxtapose this discussion with countries with socialized medicine?
What is the central principle of ethical egoism? What are two major problems concerning ethical egoism?
What is the central principle of ethical egoism? What are two major problems concerning ethical egoism?
Wells Company reports the following sales forecast: September, $46,000; October, $67,000; and November, $78,000. All sales...
Wells Company reports the following sales forecast: September, $46,000; October, $67,000; and November, $78,000. All sales are on account. Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible. Prepare a schedule of cash receipts for November. WELLS COMPANY Budgeted Cash Receipts For Month Ended November 30 Cash receipts from November...
Why is slight level of dissatisfaction a major factor in achieving community development goals?
Why is slight level of dissatisfaction a major factor in achieving community development goals?
QUESTION 4 Which of the following is not a major advantage of incentive plans? Incentives are...
QUESTION 4 Which of the following is not a major advantage of incentive plans? Incentives are a means to reward all levels of performance when salary budgets are low. Incentives foster teamwork when payments to individuals are based on team results. Incentive payouts are variable costs linked to the achievement of results. 4 points    QUESTION 5 Which of the following is not a recommendation for a drug-free workplace policy? Perform post-employment drug testing on all new hires. Maintain strict...
8 examples of company’s goals for the upcoming year: both marketing and sales goals. Make sure...
8 examples of company’s goals for the upcoming year: both marketing and sales goals. Make sure you include elements of your business that are possible to track so you can gauge your progress. Your goals should be: • Sensible?• Measurable?• Achievable?• Realistic?• Time Specific For instance, a goal of “increasing sales of accounting software” is not very specific or measurable. But a goal of “increasing sales of accounting software by 20 percent over the next 12 months” is much more...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT