What Should We Look For in Wells Fargo’s Ongoing Response to the Fake Accounts Scandal?

Board of Directors, Corporate, Corporate Governance, Responding to Crisis
Earlier this month I was quoted in a Corporate Secretary article, “How Can Wells Fargo’s Board Move Forward” (available here). This blog post expands on that advice, and identifies some actions to be on the lookout for—which tends to support good, bad, or indifferent changes in Wells Fargo. Overall, the leadership’s response to the scandal has been woefully inadequate.  The leadership has demonstrated both a lead from the rear, which equates to a hands-off approach, and a reactive (as opposed to proactive) strategy. Rather than leading the company through this, the Board’s actions are generally responses to others, such as Congressional inquiries and pressures. This is the kind of check-the-box mentality that allows massive frauds to occur, and unfortunately, it is the same mentality and approach they are taking with…
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Domestic Violence Awareness: You Can Make a Difference

Domestic Violence
Together we can stop Domestic Violence.  As a survivor and advocate for victims, I created this information packet--whether you may be a victim, may know a victim, or want to inform yourself. Knowledge is power!  Click here for the information brochure and for attributions for information in this blog post: dv-brochure Domestic violence (“DV”) is a prevalent problem and every person has the ability to make an impact by (i) eliminating any stereotypes of DV victims, (ii) learning to recognize abuse, and (iii) speaking up in a way that will help victims. As awareness grows, the silence that surrounds DV will diminish, and DV will reduce. There is No Stereotypical DV Victim No one is immune from domestic violence—it is not based on socioeconomic status, education, gender, or sexual preference. Many people…
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Goody’s 3 Pillar Framework for Nonmarket Forces Strategy

Corporate, Entrepreneurs, Nonmarket Forces Strategy
How do you analyze nonmarket forces? How do you incorporate nonmarket forces into your market forces strategy? Often you hear business executives, professors, and students talk about market forces, but you don’t hear that much about nonmarket forces. In fact, my MBA program had an entire course on Nonmarket Forces Strategy, but we learned no strategic or analytical framework for nonmarket forces. This is especially disconcerting as a seasoned corporate lawyer and an expert in corporate governance and compliance—nonmarket forces and the associated risks are glaring to me—but are seldom fully considered in business strategy. In my career advising corporate clients and through my MBA program, the most frequent fatal flaw in market forces strategy is the failure to incorporate nonmarket forces in the analysis; that is, until there’s a problem.…
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