Question
I need some help answering these questions. The situation that the answers should be based on is down below. Thank you in advance! Congratulations! After
I need some help answering these questions. The situation that the answers should be based on is down below. Thank you in advance!
Congratulations! After 2-years of hard work as the Fin-Tech North's CEO, your company has been acquired by Garner-South Bank, one of the largest banks in North America. Fin-Tech North has a stellar reputation, with over 500,000 individualized accounts by the International Brotherhood of Teamsters. Your personal compensation is now folded into Garner-South Bank as part of the deal, making your own financial future tied into the organization. You are no longer a CEO, but a senior Vice President within the new structure, in charge of home loans and mortgages. Within months after the merger, the FBI and IRS revealed an undercover investigation that found that Garner-South Bank has been purposely over-charging ATM fees to its customers by $35 million, has been creating 50,000 fake accounts, and has been committing mortgage fraud, in a horrible toxic employee culture. The Garner-South Bank's CEO and PR team have begun to weaponize a defense of its practices, blaming Fin-Tech North's incoming accounts, team, and YOU, as the actual fraudsters. Within a month, the CEO and PR team were fired by the board. You are named CEO by the board, but your entire group of 400+ employees is demoralized, with 5% quitting each week.
Task 1- How do you protect the reputation of Fin-Tech North's individualized accounts by the International Brotherhood of Teamsters that are now under Garner-South Bank control?
Task 2- How do you protect your reputation while the Garner-South Bank CEO and PR team are blaming you for their issues?
Task 3- Because your personal income is based on the price of Garner-South Bank stock, what can you do to protect the reputation of the company?
Task 4 - How can you revitalize the employees in your company to want to stay to protect the organization without cutting staff or pay?
Task 5 - What steps would you have to take in order to re-organize the company effectively for shareholders, government investigators, and the public image of your company at large?
Task 6 - Is this scenario winnable? Or will your reputation be destroyed regardless of the outcome?
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