Wells Fargo Account Fraud Scandal: Performance Management for Eliminating Fraudulent Practices

Case Study
Wells Fargo account fraud
scandal

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Key principles of goal setting theory and how it helps in enhancing employee performance. ..1
Elements of performance management system for eliminating fraudulent practices.................3
CONCLUSION................................................................................................................................5
References:.......................................................................................................................................6

INTRODUCTION
In organisation performance management is continuous assessment in such manner for
matching the goals of company. This is also used for setting strong goals and metrics in order to
identifying progress and areas of individual strength. This related to the development is
individual with competences and commitment which works towards the achieving of shared
objectives within an organisation that supports and encourages their achievement. It ensures to
met goals in effective and efficient manner as it is strategic and integrated approach to deliver
sustained success in organisation through improving people performance who work and develops
capabilities of team and individual contributors (Agrawal, N.M., 2019). The report is based on
case study of Well Fargo account fraud Scandal which is wells Fargo & company. It is
community based financial services headquarter in San Francisco. The vision of company is to
satisfy the financial needs of customer an helping them to succeed financially. The company
deals in banking, investment and mortgage products and services, as well as consumer and
commercial finance. The report will cover the principles of goal setting theory and how it helped
in enhancing employee performance. Further it explains elements of performance management
for eliminating fraudulent practices.
MAIN BODY
Key principles of goal setting theory and how it helps in enhancing employee performance.
The goal setting theory is employee engagement tactic which involves specific objectives
and measurable gaols in order to improve the productivity, The incorporation of goal setting
theory in workplace in context to wells Fargo & company this helps in improving employee
performance and boost employee engagement. This theory in 1968 was developed by Edwin A.
Locke in article “ Toward a theory of task motivation and incentive”. In organisation, the
employee work well when they face challenging goals as it forces employees to work hard and
develop their skills by receiving positiver feedback and sense of achievement (Arana-Solares,
and et.al., 2019). This results in productivity, satisfaction in workplace in framework to Wells
Fargo & company. In goal setting theory there are several principles which helps in enhancing
employee performance.
 Clarity- In this principle the goal needs to be clear and specific as employees of the
organisation understands project objective and deadlines which results in less risk of
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