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Wells Fargo And Coach Term Paper

¶ … Successful and Unsuccessful Leaders Coach K. and John Stumpf are leaders that have used differing styles of leadership. On one hand, Coach K. uses a transformational leadership style whilst Stumpf uses an authoritative style of leadership. Stumpf employed a controlling and intimidating technique whilst Coach K. uses a more interactive and relational approach. Coach K. has been a successful mentor and coach over the years by having good and healthy relation with his subordinates. Employees in Wells Fargo had a poor relation to John Stumpf as he failed to consider the perspectives of the employees. John Stumpf utilized his power and influence within Wells Fargo to change the behavior of personnel to conform to his controlling and authoritative culture. Coach K. uses his influence to not only be a leadership teacher and also coach, but also in people development. Taking these aspects into consideration, Mr. Stumpf is considered to be an unsuccessful and ineffective leader while Coach K. is deemed a successful and effective leader.

Table of Contents

Introduction 2

A comparison of the techniques used by each leader to gain power in their role within the organization 3

A comparison of how subordinates relate to each leader, including how much influence the subordinates have on each leader 3

An analysis of how each leader uses influence to change the behavior of other leaders, coworkers, and subordinates within the organization 4

A comparison of the techniques used by each leader to influence employee motivation 5

An analysis of self-destructive tendencies of each leader, and how these tendencies affect the organization 6

A comparison of how each leader rewards employees, and how effective the reward systems are 7

An analysis of which leadership theory best describes each leader and the reasons that you selected the leadership theory based on research 8

References 10

Introduction

Leadership is a vital aspect taking into consideration organizations and groups are enduringly in an incessant tussle to be all the more competitive. Leadership aids in taking full advantage of efficiency and to attain the set goals and objectives (Keskes, 2013). This portfolio will analyze and discuss two leaders. One would be considered effective and successful whereas the other would be considered ineffective and unsuccessful. In turn, these two leaders will be compared and contrasted against with respect to their leader characteristics, use of power, and use of influence, and the manner in which these elements are in relation to their effectiveness or lack thereof within their respective organization. The effective and successful leader is Coach Mike Krzyzewski whereas the ineffective and unsuccessful leader is John Stumpf.

Brief Background and Organizational Framework for each Leader

John Stumpf is the former Chief Executive Officer (CEO) of Wells Fargo. He was in charge of this position between June 2007 and October 2016. The industry of operation was the banking and financial services industry. Being the CEO of the company, Stumpf held the executive level within the organization and supervised the entire workforce that comprised of 265,200 subordinates. In the course of Stampf's tenure, Wells Fargo had been overwhelmed with penalties, litigations, congressional hearings, public criticism, and dismissal of personnel. The disentanglement of the corporation emanating from lack of oversight, unethical practices, rogue employees, and a nurtured unethical culture has added to the resignation of John Stumpf as CEO of Wells Fargo (Egan, 2016). During his time of control, the organization had been entangled and involved in scandals and unethical actions. For instance, the corporation's personnel for the past five years clandestinely formed millions of unsanctioned bank and credit accounts devoid of consumer permission and knowing. As a result, the repercussion and consequences have been substantial. Just about 5,300 workers have been instantaneously dismissed. Stumpf has also been forced to resign, and just lately went in front of Congress to address the fiasco that has taken place at Wells Fargo. Taking these aspects into consideration, Mr. Stumpf is considered to be an unsuccessful and ineffective leader.

Coach...

has been a staple in men's basketball. He has orchestrated a successful program at Duke University. Coach K. claims winning seasons since 1983, numerous NCAA national championships, authored five books, mentored and trained present-day and preceding basketball players. He has obtained inspiration from his past and present day college students, the National Basketball Association (NBA) players from the Olympic teams he has trained, fellow associates and acquaintances in the sports field, business mavens, as well as educators. I chose coach K. because he has inspired and influenced so many people. To this day, past players speak highly of him. Jay Bilas who was his second recruiting class at Duke and current college basketball analyst for ESPN stated that he feels as though he played for the best coach ever (Davis, 2015).
A comparison of the techniques used by each leader to gain power in their role within the organization

Coach K. and John Stumpf employ dissimilar techniques to attain power in their role within their respective organizations. On one hand, Stumpf employed a controlling and intimidating technique. In particular, to obtain more authority within Wells Fargo, Stumpf insists that personnel cannot determine the activities and decisions made by the managers and therefore subordinates have minimal influence on the decisions made, thereby handing him even more authority and influence in his role as a leader (Egan, 2016). On the other hand, Coach K. uses a more interactive technique to gain power in the organization. He has a healthy interrelation with the players, assistant coaches, peers and other members within the organization. In turn, this has elevated him all the more as he has obtained greater respect from all of them (Pendergrass, 2016).

A comparison of how subordinates relate to each leader, including how much influence the subordinates have on each leader

Coach K. has been a successful mentor and coach over the years by having good and healthy relation with his subordinates. What is more, the players, assistant coaches and other personnel within the organization have a great deal of influence on him. Both the USA basketball players and Duke University basketball players have a great relationship with Coach K. He has been able to motivate and inspire employees and most of all enabled them to have a trusting relationship with him. Over the years, the Duke Basketball team has been comprised of different players. They have had a significant influence on Coach K. as they have forced him to change, adapt, connect and win, and this has made him become all the more successful as a coach and leader. He has been able to be malleable to the changing eras and personnel that have come along (Krzyzewski, 2011). On the other hand, employees in Wells Fargo had a poor relation to John Stumpf. What is more, subordinates have minimal influence on John Stumpf as a leader. This can be perceived in the fact that he failed to consider the perspectives of the employees. For instance, as pointed out by Shen (2016), despite the fact that branch managers reported multiple instances of their peers illegally opening deposit and credit card accounts devoid of consumer approval, as a leader, Stumpf ignored these perspectives as such personnel obtained promotions and salary increases.

An analysis of how each leader uses influence to change the behavior of other leaders, coworkers, and subordinates within the organization

Leaders, through their influence, have a significant impact on the organizational culture and behavior. Therefore, leaders can easily employ their influence to alter and transform the behavior of other leaders, peers, and subordinates within the organization. John Stumpf utilized his power and influence within Wells Fargo to change the behavior of personnel to conform to his controlling and authoritative culture. This encompassed beating serious targets and deadlines, failure to listen to employee concerns, and this pushed the personnel to behave unethically. In accordance to Morris (2016), salespersons of Wells Fargo were subjected to severe pressure to sign consumers up for numerous accounts, in the end steering them to take part in fraud. These individuals are expected to form eight new accounts every day and even at times the number being raised up to 20. When salespersons failed to meet such objectives, they would be subjected to demeaning sessions and warned that they would be sacked if better results did not come immediately. Such demands and pressuring culture developed by John Stumpf altered the behaviors of personnel within Wells Fargo to behave in unethical manners so as to meet the objectives that had been set for them. In the end, this led to the creation of millions of fake consumer accounts by employees who did this in order to secure their jobs and avoid being sacked (Morris, 2016).

Coach K. largely utilizes his influence to transform the behavior of other individuals within the Duke University community. For instance, operating in an educational organization, Coach K. uses his influence to not only be a leadership teacher and also coach, but also in people development. For instance, numerous teachers and players incessantly come back and seek advice from Coach K. as a result of the longstanding mentoring relationship and trust he has founded with them. Coach…

Sources used in this document:
References

Bass, B. M., & Bass, R. (2009). The Bass handbook of leadership: Theory, research, and managerial applications. Simon and Schuster.

Davis, S. (2015). How did Mike Krzyzewski reach 1,000 wins? With a million small steps. Sports Illustrated. Retrieved from: http://www.si.com/college-basketball/2015/01/25/mike-krzyzewski-duke-blue-devils-1000-wins

Duran, D. (2015). Lessons from Duke's Coach K: 3 keys to leading an exceptional team. Investment News. Retrieved from: http://www.investmentnews.com/article/20150513/BLOG16/150519966/lessons-from-dukes-coach-k-3-keys-to-leading-an-exceptional-team

Egan, M. (2016). 5,300 Wells Fargo employees fired over 2 million phony accounts. CNN Money. Retrieved from: http://money.cnn.com/2016/09/08/investing/wells-fargo-created-phony-accounts-bank-fees/
Krzyzewski, M. (2011). Coach K. on How to Connect. The Wall Street Journal. Retrieved from: https://www.wsj.com/articles/SB10001424052702303678704576441823130334218
Lawler, E. E. (2016). The Wells Fargo Debacle: How Proper Reward Practices Can Remedy A Toxic Culture. Forbes. Retrieved from: http://www.forbes.com/sites/edwardlawler/2016/11/01/the-wells-fargo-debacle-how-proper-reward-practices-can-remedy-a-toxic-culture/#647e959a4689
Leadership Central. (2016). Transformational Leadership Theories. Retrieved from: http://www.leadership-central.com/transformational-leadership-theories.html#axzz4YwpYMDla
Morris, D. Z. (2016). Former Employees Detail Wells Fargo's "Boiler Room" Operation. Fortune. Retrieved from: http://fortune.com/2016/10/09/wells-fargo-work-culture/
Pendergrass, P. (2016). How Wells Fargo's John Stumpf Crashed Himself. Fortune. Retrieved from: http://fortune.com/2016/10/14/wells-fargo-john-stumpf-scandal/
Shen, L. (2016). Former Wells Fargo Employees to CEO John Stumpf: It's Not Our Fault. Fortune. Retrieved from: http://fortune.com/2016/09/19/former-wells-fargo-employees-to-ceo-john-stumpf-its-not-our-fault/
Siang, S. (2015). 5 Leadership Lessons I Learned from Coach K. LinkedIn. Retrieved from: https://www.linkedin.com/pulse/5-leadership-lessons-i-learned-from-coach-k-sanyin-siang
Silverthorne, S. (2006). On Managing with Bobby Knight and "Coach K". Harvard Business School. Retrieved from: http://hbswk.hbs.edu/item/on-managing-with-bobby-knight-and-coach-k
The Sports Xchange. (2017). Duke Basketball: Angry Coach K. bans players from wearing team apparel. UPI. Retrieved from: http://www.upi.com/Sports_News/College-Basketball/2017/01/27/Duke-Basketball-Angry-Coach-K-bans-players-from-wearing-team-apparel/2951485500795/
Yaeger, D. (2014). How Coach K. Motivates USA Basketball. Retrieved from: https://www.wsj.com/articles/how-coach-k-motivates-usa-basketball-1410474885
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