Improving Business Performance
Week 2 Discussion
Colleagues 1
Lyndsay Camaroto
Hello,
The organization I chose is the one I work at as well, Even though for me I have had great experiences as an employee and have really grown in my career. From a Moral standpoint, there are instances where I think our facility and organization could do better in the respects to our staff and clients we serve. In regards to the staff, we have client support staff, which are positions that do not require a college degree. These positons are essential in the productivity in the organization and providing ongoing client care. With that note, they are also the least paid positions and the staff, most of whom are adults with families aren’t paid a livable wage in todays world. We are able to retain staff to a point as a lot of them are in recovery and want to “give back” in a sense with working with our high risk population. The barrier that is faced is that in PA, our minimum wage is still $7.25 and because we start rate at $12.50 the overall organization will not budge on raising the base pay to a more livable wage, regardless of how much we push at the facility level. This causes a lot of strain with engagement and hiring practices, as we are not marketable or competitive, we usually don’t attract good quality staff (we have a good handful). Its hard as a member of leadership, that has been a part of the battle to raise wages to a more liveable wage for these support staff departments, that they tend to have to work multiple jobs, can’t afford insurance, childcare, and basic necessities.
Werhane moral imagination can be applied to break through the tunnel vision of the situation to be able to assess and present plausible solutions that could be beneficial in the long run for not only the employees but also the organization, at the facility level. Werhane (2008) stated that one can be trapped in the organizational culture that prevent creative thinking and can essentially prevent vision and opportunity. In regards to the low base pay for support staff, we can utilize moral imagination to explore the long term benefits as well as the short term risks and potential financial loss, that would eventually even out. Werhane (2008) stated that moral imagination is the ability to discover and act upon possibilities outside the framed set of rules. Inititaing by forcing self relfection upon the organization and the upper management to occur. Framing the situation at hand in a manner that would allow them the opportunity to envision how one would live on the wages we are providing, bringing in factual information regarding housing and other living expenses, and discuss how they can be creative to live on that wage. We would then present the financial numbers on how if raised to a base standard that is considered “competitive” in the local area to not only, provide ease of financial stress and burden, but also elevate the potential of attracting better quality of staff. Providing opportunity for the members of management to further imagine what changes could occur with more prominent and motivated staff on site levels. How that can essentially boost a desire to work, and provide quality service, and aid in reducing negative feedback and experiences. We are an organization and business providing rehabilitation services hundreds of men and women at a time, they are the main stakeholder that we should be focusing on. We must be creative, as we can focus on all the program changes and enhancements as we want, but if the staff that are working directly with them 24 hours a day aren’t able to reduce their own stress outside of work, or have to work 100 or more hours a week in order to make a living, we would see improvement in moral overall. Then taking that bit of information to further expand the imagination and as well as data, increasing the base pay would provide benefits culturally, morally, and in a business perspective, they would see a balance begin to occur as they essentially would see a decrease in OT pay as there would be no need for staff to work over 100 hours as we would then be able to retain more staff and not need to fill deficits in staffing.
Werhane, P. H. (2008).
Mental models, moral imagination and system thinking in the age of globalizationLinks to an external site.
Links to an external site.
. Journal of Business Ethics, 78(3), 463–474.
Colleagues 2
India Holmes
Synthesis: Employing Moral Imagination at Bank of America to Drive Positive Social Change
Organizational Overview and Ethical Concern
Bank of America (BoA) stands as a global leader in the financial services sector, delivering a wide array of banking, investment, asset management, and risk management services to individual consumers, businesses, and institutions. Despite its commitment to corporate social responsibility, BoA has faced persistent ethical criticism—most notably, regarding its role in perpetuating financial inequity in underserved communities.
A pressing concern lies in the institution’s history of closing branches in low-income and minority neighborhoods while maintaining a robust presence in more affluent areas (Baradaran, 2015). These actions contribute to systemic financial exclusion, which exacerbates economic disparities and undermines community development. Addressing this issue requires a shift from traditional business thinking to a framework that prioritizes ethical reflection and innovative solutions—an opportunity well suited for moral imagination.
Applying Werhane’s Moral Imagination Framework
Patricia Werhane’s concept of moral imagination offers a powerful lens for ethical decision-making in business. It involves the ability to transcend entrenched assumptions, envision alternative possibilities, and creatively reframe challenges to generate ethical and innovative solutions (Werhane, 1999). This framework encourages organizations to consider their broader societal responsibilities and explore new ways of operating that align business success with social good.
In applying Werhane’s model, Bank of America can take the following actions:
1. Reframe Existing Assumptions: Instead of perceiving the closure of branches in marginalized communities as merely a cost-saving measure, BoA could recognize these decisions as missed opportunities for long-term investment in community growth and customer loyalty.
2. Empathize and Innovate: Through moral imagination, BoA can place itself in the position of underserved populations, better understanding the structural barriers they face. This empathetic approach could inspire innovative solutions such as mobile banking services, digital access initiatives, or strategic partnerships with local organizations.
3. Create Inclusive Business Models: Moving beyond profit-centered models, BoA could implement hybrid strategies that merge financial performance with social impact. For instance, initiatives that combine financial literacy programs with affordable microloans could empower individuals and foster economic resilience, while also expanding BoA’s reach in underserved markets.
By adopting this morally imaginative approach, BoA would not only address the root causes of financial exclusion but also enhance its role as a catalyst for community empowerment and equitable development. Such efforts align with the broader view that corporations have a responsibility to create shared value for all stakeholders—not just shareholders (Freeman, Harrison, & Wicks, 2007).
Bank of America’s scale and influence position it uniquely to lead by example in integrating moral imagination into its corporate ethos. By rethinking how it serves marginalized communities and adopting ethically driven, innovative practices, BoA can contribute meaningfully to reducing financial inequality. Ultimately, this approach fosters sustainable success and affirms the institution’s commitment to advancing social justice through financial empowerment.
References:
Baradaran, M. (2015). How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy. Harvard University Press.
Freeman, R. E., Harrison, J. S., & Wicks, A. C. (2007). Managing for Stakeholders: Survival, Reputation, and Success. Yale University Press.
Werhane, P. H. (1999). Moral Imagination and Management Decision-Making. Oxford University Press.
