Leadership, communications and teams at Wells Fargo
Introduction
Communication allows information to be exchanged between 2 or more persons and
that information to be understood (Lasater, 2010). This paper discusses how informal and
formal communication techniques are used at Wells Fargo bank and their effectiveness. The
role of culture in both informal and formal communications is also discussed and
recommendations for improvement are made. Furthermore, this paper provides a
comprehensive discussion of the use of teams at Wells Fargo bank in addition to how
effective they are.
Formal and informal communication
At Wells Fargo bank, formal and informal communication channels are used in
conveying different types of messages. The formal communication techniques used include
face-to-face meetings and discussions, and writing letters and memos. The main techniques
of informal communication used at Wells Fargo include instant messaging, e-mailing, the use
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of telephone, chatting online and texting, and using social media. They also talk in an
informal manner while walking around. These techniques are usually utilized for certain
purposes only but not for business communications which calls for formal communications
(Daft, 2015).
Effectiveness of communication techniques
The communication channels and techniques have been effective to a certain extent,
but not very effective and there is room for improvement. At Wells Fargo bank,
communication techniques have been effective since the managers and supervisors usually
keep communication lines open at all. However, the downside is that the managers at Wells
Fargo do not often seek feedback from clients or workers, as they are afraid of hearing bad
news from them. The managers also do not ask workers about their problems or concerns.
Role of culture in formal and informal communications
In informal and formal communications, culture plays a vital role since it may present
a barrier to effective communication. Employees should have awareness of the importance
and sensitivity of effective cross-cultural communication in the place of work as this would
help overcome cultural communication barriers (Lasater, 2010). During cross-cultural
communication, it is important to avoid stereotyping. When communicating to an employee
of a different culture, the manager has to tailor his/her communication approach to cultural
differences – for instance by using reflective listening – and make sure that communication is
received and understood in a clear manner.
Recommendations for improvement
In order to improve communication effectiveness at Wells Fargo, it is recommended
that the managers in this financial firm tailor their messages to suppliers, clients, and staff
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members. They should also seek feedback from clients and/or staff members without fearing
to hear bad news from them. It general, it is important for managers to obtain feedback as this
would enable them to be able to respond to opportunities or problems in an adequate manner,
and their decisions and plans may align with the interests and perceptions of staff members
(Daft, 2015). Managers should also communicate with candor, ask workers questions about
their concerns and problems, and listen to them well. With effective communications,
employees at Wells Fargo would know what is actually going on in their company.
Use of teams within the organization
A team basically refers to a unit that consists of at least 2 persons who interact and
coordinate their work in order to achieve a common objective to which they are all devoted
and hold themselves mutually answerable (Daft, 2015). At Wells Fargo, various teams have
been put together for different purposes. These teams comprise people who have the
appropriate set of skills, specialties and personalities. The goals of the teams are described
and the responsibilities and roles of every team member are defined clearly. Proper channels
of communication are established in the teams and information is shared effectively.
Effectiveness of the use of teams
The teams at Wells Fargo bank have been successful to a certain degree as they have
contributed a lot to the company. The contributions of teams at this firm have resulted in
stronger competitive advantage in addition to a somewhat high overall performance of the
organization. Since the team members have different perspectives, experiences, strengths, and
skills, they actually contribute to high levels of innovation and creativity at Wells Fargo bank.
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They also bring about improved quality of services, increased speed of response, lower costs
and higher productivity, in addition to enhanced employee satisfaction and motivation.
Conclusion
In conclusion, at Wells Fargo bank, formal communication techniques used are face-
to-face meetings, and writing letters and memos, whereas informal communication channels
utilized are instant messaging, e-mailing, telephone conversation, texting, and using social
media. These techniques are effectual to a degree, though not very effective and they can be
improved. To improve communication effectiveness, the managers need to seek feedback and
communicate with candor. At Wells Fargo, teams have been created for different purposes.
References
Daft, R. L. (2015). Management (10 th ed). Columbus, OH: South-Western College.
Lasater, I. (2010). Words that work in business: A practical guide to effective communication
in the workplace. US: Keep Coming Back/Puddle Dancer Press.
