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​Identify aspects of Goldman Sachs organizational design, strategic leadership and governance

Identify aspects of the company’s organizational design, strategic leadership and governance: Thisshould include description of the organizational structure and culture. The analysis should leveragethe tools covered in class to assess how leaders and the Board of Directors play a role in thestrategic success of the organization.

Presented by: Amadou Diallo, Anthony Gallucci, Bryan
Pereira, Emily Bev, Maria Castillo, Mariem Tolba.
Step 1- Brief Introduction on Goldman Sachs
Goldman Sachs NYSE: GS was founded in 1869 as a commercial paper organization by
Marcus Goldman. Ever since the business has grown as an intermediary and participant to
become a leading financial services company headquartered in New York. In 1989, the firm
changed its name to Goldman Sachs Group. In 1996, the firm was then restructured. The firm
went public in 1999 when it decided to sell 3.7 billion dollars’ worth of stock to the general
public. Goldman Sachs has offices in Frankfurt, Honk Kong, London and other global financial
centers across the globe (Cohan, 2012). The firm concentrates on four primary operating
activities: securities, lending and investing, investment management, and investment banking.
The firm provides a variety of asset management and investment services to big corporations,
governments, financial institutions as well as wealthy individuals.
The mission, vision and values of a company are crucial to its strategy as they are utilized
to define operational tactics and future goals. While vision and mission are often
interchangeable, they are two different aspects of a company. Goldman Sachs uses business
principles instead of mission and vision statement. According to its website, the company
focuses on the interests of its clients more than anything else. If human capital is diminished, the
company will find it hard to restore its reputation. The company is also dedicated to complying
with rules, laws as well as ethical principles governing investment banking in different business
locations. The success of the company is also linked to adherence to these standards. The
company value statement states, “We are committed to a distinctive culture and set of core
values. These values are reflected in our Business Principles, which emphasize placing our
clients’ interests first, integrity, commitment to excellence and innovation, as well as teamwork.
Goldman Sachs is managed by its principal owners” (Cohan, 2012)
Indeed, the company needs a clear and mission statement to guide its business operations.
Although the business principles inspire and guide employees, mission and vision statement
would be much more effective. The vision statement should describe where Goldman Sachs
intends to be in the coming years, and the mission statement should describe what it needs to
accomplish. The two statements should support each other, but its mission statement must be
more specific. It should define how the firm will separate itself from others in the company. An
example of Goldman Sachs mission statement should read as follows, “We are committed to
serving our clients and becoming a global leader in the industry. To accomplish this, we heavily
invest in the most talented employees in the industry”. The vision statement should read, “At
Goldman Sachs, We strive to be market leaders; provide superior services to our clients, and
build a pool of talented workers in order to achieve our mission.”
During the second quarter of 2019, Goldman Sachs revenue was 9.461 billion dollars, a
decline of about 1.82 percent year-over-year due to the failure of expenses falling in line with
revenue as the bank continued to spend heavily on new initiatives like retail banking and wealth
management3. The company’s revenues reported as of the end of 2019 fiscal year, was 35.168
billion dollars which was a 3.74 billion decrease continuously. In 2018, the company’s revenue
was 36.616 billion dollars, a 11.78 billon surge from 2017. In 2017, revenue was 32.73 billion
dollars, a 6.3 percent surge from 2016. In 2016, the revenue3 was 30. 79 billion dollars, an 8.96
percent decrease from 2015. In 2015, the revenue was 33.82 billion dollars, 2.05 percent decline
from 2014 (“Goldman Sachs Revenue 2006-2019 | GS”, 2019).
The company shares price has been decreasing largely due to its fluctuating financial
performance as well as the scandals it has been facing over the years. Recently, the Malaysian
government asked the company to pay a total sum of 7.5 billion dollars in reparations due to
business misconduct in dealings with 1MDB, a state-operated investment fund. 1MDB was
accused of money laundering and corruption, but so far, Goldman Sachs has denied any
involvement in these alleged misconducts (“Goldman’s role in the 1MDB scandal in 300 words”,
2019). There is uncertainty as to whether, Goldman Sachs will continue facing penalties,
sanctions and fines due to these allegations.
However, Goldman Sachs focus on employee personal development, and growth has enabled
the company to continue attracting some of the best minds in the market. The company remains a
company of choice for many graduates. The millennials are looking for companies that offer
improvement prospects, and Goldman Sachs provides them with these opportunities. Since the
2008 financial crisis, the banking sector seized to be the employer of choice for fresh graduates
(Cohan, 2012). MBA holders are choosing to work in technology firms which offers better
chances of career advancement and higher salaries and benefits. Currently, companies like
Google and Apple have attracted many talented employees in the market, leaving banks to
compete with each other for the remaining lot. Nonetheless, Goldman Sachs has not had troubles
attracting employees.
Essay #2
When examining Goldman Sachs, we can immediately see that they are not playing
alone. The company has Deutsche Bank AG, Morgan Stanley and its main competition in terms
of assets and income currently outperforming Goldman Sachs, JP Morgan. Goldman Sachs and
Morgan Stanley are still viewed as head to head competitors due to the fact that they are the two
only disolate banks in the United States. The competition is fierce as well as volatile, customers
are always being enticed by the competitor into switching. Switching cost are often cheap for the
customer and the services are very comparable in investment banking, this causes the
corporations to hone in on the business models and strategies they have implemented that have
given them optimal success. Taking key principals and monitoring procedures is crucial in
making sure that the company is transparent with the practice and is offering the best profit
Since competitive rivalry is present you can see that all it takes is minimal error for an
investor to pull out and switch to one of the competitions, before this happens Goldman Sachs
will try to extend additional services and give out account bonuses. Goldman Sachs is so resilient
to change in non-institutional clients, that any loss will not tumble the giant it is. Reputation is a
big player when it comes to keeping the business running. High impact marketing campaigns are
implemented and help retain loyal customers as well as invite new investors to rely on the values
and credibility of Goldman Sachs. One of the things Goldman Sachs has on their website is the
“Environmental Stewardship” tab. In it contains all of the new, leading and impactful missions
the company is tackling outside of the work they do in the market. When any company becomes
socially responsible it motivates not only the business to keep flourishing but also it attracts its
future/potential clients to get involved with the company. Its four key milestone
accomplishments in the environmental sector consisted of: having zero net6 carbon emissions
since 2015, $3.5 billion in green investments, $19 billion in weather-related catastrophe bonds
and over $100 billion in capital deployed toward clean energy. By the results of these
accomplishments it is clear that Goldman Sachs is socially responsible for the environment and it
is continuously making an impact not just on the bank but also aiding in the global effort of
making the necessary chances to fight against climate chance while maintaining the balance of
the economy and the prosperous ecosystems.
When examining the threats of new entrants for Goldman Sachs you have to think of
domestic and international competition. Domestic, previously stated are JP Morgan, Morgan
Stanley and Merrill Lynch. When you asses the domestic rules and regulations in place for
investment banks to start up, you can see that the intensity of regulation makes it cost inefficient
for new companies to offer investment banking services in particular institutional clients for
example: Pension funds, mutual funds, insurance companies, hedge funds and also some private
equity investors. These elephants move markets on their own and are responsible for high
volume trades and securities. In 2010 in response to the financial crisis the Dodd-Frank Act was
in enacted which helped establish the Financial Stability Oversight Council (FSOC). This
council was formed to label banks and firms “Systemically Important Financial Institutions” or
(SIFI’s). When a firm gets labeled (SIFI) the company is deemed to be “too big to fail”, but is
not completely susceptible to failing. The threshold for systemically important financial
institutions as of 2018 are at $250 billion changed from the original $50 billion by President
Donald Trump due to it being a “negative force”. All new entrants to the investment banking
industry would end up coming from international markets. Traditional banks are completely
substitutable from modern technological advancements we’ve seen through the years. When
looking at Goldman Sachs one of the leading investments and lending banks in the United States
they compete with crowd funding and peer to peer lenders. What limits the competitor’s
potential is the Securities and Exchange Commission (SEC) in terms of compensation, licensing,
filing, advertising and product creation.
One major force that can show a lot about the firm is how well is the company is
diversified. Goldman Sachs has had this task to make sure that throughout the years the company
is diversifying by having half of their staff be women employees. This task is being implemented
throughout the years and have been seeing many companies take on this task due to the growing
number of women/ minorities entering the work force. On the Goldman Sachs website it shows
the interest of diversity and inclusion by claiming its initiatives to see more women, LGBT and
minorities both in their recruitment process but also whom the company is co-operating with.
The firm writes “Sustaining a work environment where our people feel comfortable bringing
their full selves to work and are empowered to reach their full potential continues to be a priority.
As a firm, we believe that having the best team positions us to meet the needs of our clients –
and to have the best team, our people must bring a range of perspectives to the table and reflect
the diversity of the communities where we live and work.”- Goldman Sachs. I believe when a
firm talks about different perspectives it is trying to diversify by not just gaining more
multicultural personnel but also use diversity to take people from all sorts of
backgrounds/upbringings and use their experiences and mentalities that are not common to
resolve abstract issues the firm face.
A Resource-Based View the firm reveals the abundant nature of the Goldman Sachs. An internal
analytical toolbox enables us to comprehend the value and nature of enterprise resources.
These tools include, however, are not limited to an RBV, Value-Chain Analysis, Internal
Company SWOT, and Porter’s Five. When Team B uses an RBV to reveal information about GS
resources, we analyze tangible and intangible resources. This exercise enables us to create
environmental factors and conditions where the Goldman Sachs prospers. In addition, it reveals
an internal research environment where leadership is incentivized to discover potential
exploitation plots and market opportunities. The financial assets are as follows:
Goldman Sachs boasts state-of-the-arc corporate facilities and amenities. Everything is hightech. And everyone is fast paced. Firm technology surpasses competitors and thwarts service
retaliation efforts – creating competitive advantage and market barrier. Goldman Sachs has
been keen on Bitcoin and Blockchain since around 2005. It actually predicted the economic
potential and transformation of the Digital Age. The website uses BuzzWords, Infographics, and
videos to showcase novel tech-craze worthy items and trends. Published reports, keynote
presentations, forecasts, trends, analysis, and blogs ‘cloud’ the site with the newest tech-know
how. Different levels of research, some esoteric to the non-IB, some simple to a Kindergartener,
tell us about the different tech. In recent years – the Cloud, IOT, Big Data [Hybrid Storage],
Machine Learning, Algorithms, Sentient Trading, Quantum Computers, New Fuel Strategy,
Carbon-Fuel Emissions, smart cities, and Athleisure [a trend my teacher wears]. The company
trades with exclusive research-based sentients algorithms. Goldman Sachs is a tech firm.
Goldman Sachs only uses the top-proprietary trading tools.
Culture is prevalent at Goldman Sachs. A hard-working talented labor pool forms a diverse
global community like no other. Goldman Sachs is a brand. It’s not just an Investment Bank.
Enterprise leadership states ‘our people are our greatest asset.’ It is known to put the client
first. To provide the client with services unparalleled to peer-firms like Morgan Stanley. The
client-side knows a deal with Goldman is a deal with Goldman. Standard adherence to a
traditional set of laws and procedures governing each business operation enhances the brand
name and image; it also establishes brand loyalty – clients are clients. Our clients come first.
Goldman Sachs represents this from firm recruitment to CEO and small-investment clients to
billionaire hedge funds. All trade program, software, automation processes, cloud computing,
and tech-aspects are protected under the legal and government regulations: patented,
trademarked, copyrighted.
Another component of the multi-faceted Goldman culture is hard-work, talent, and women.
This is an intangible component. The firm has its own Coding for Girls program. Aiming to get
young girls into computer coding. GS also hires the best talent. Innovation and creative
mindedness along with prior occupational or life experiences set the bar for the workforce. The
firm utilizes tech, such as the ATS or Applicant Tracking System, to recruit and track
future/current/potential personnel. Top-leadership has attended some of the most esteemed
universities in the world including Harvard University and the Big Oxford.
Emergence of potential obstacles translates to Strategic Planning time. Top leadership is known
for being proactive. Clients receive intangible resources, organizational capabilities, of
outstanding customer services each time business is conducted with the enterprise. Goldman
Sach’s competitive advantage is its people. This literally means all people involved from the
janitor to the off-shore Luxemburg accounts. Culture is an inherent component of the Goldman
Sach’s community. The late-night office, gym-bug, who literally can’t put down his Wall Street
Journal, and secretly fetishes computers since age eleven, develops source code for LINUX and
APACHE. He can’t stop worrying about his client, or checking the foreign exchange rates, long
enough to grab a cup of Java with Harvard-Alum. He is best friends with the girl who transferred
to Columbia Night School from Community College while working Retail to put herself through.
The two, male and female counterpart, are equal in every way, shape, and form. They would be
enraged to hear you think or would even begin to think otherwise. Culture like this is impossible
to replicate. It is the firm’s most valuable asset. No competitor, whether it be J.P. Morgan who
assisted in bailing Goldman Sachs out of the 2008 Big Bank Bust, is able to match it. Imitating
the culture or personal relationships is impossible. Precedence, reputation, power, access to
resources, client-base, talent pool, firm facilities and location, first-to-market advantage, and
uniqueness make Goldman Sachs almost invincible. Goldman Sachs is not going anywhere. And
it is not too concerned about Morgan Stanley either.
Millennium-turning events like the Dotcom Bust and Housing Crisis may have scarred financial
operations but Goldman retained its culture and people. Also, the government protects the
Goldman Sachs. People deem the firm ‘too big too fail.’ This means government-backed
financial and monetary policy protects the firm from annihilation. It also entails that GS is
protected from other harmful operations. A P.R. night-scare occurred when the general public
deemed the Goldman Sachs a haven for the sociopathic yuppie; however, company leadership
proved otherwise, censored the work, and provided other measures such as social
responsibility initiatives [girls who code] to ensure reputation.
The peer-group consisting of Morgan Stanley and Credit Suisse is hard to penetrate. Few firms
possess the resources, or market-position, required to advance in the hierarchy. Government,
technology, and law strengthen the Goldman Sach’s peer-number. These entities root for the
Goldman Sachs, NYSE:GS.
Cohan, W. D. (2012). Money and Power: How Goldman Sachs came to rule the world. Anchor
Goldman Sachs Revenue 2006-2019 | GS. (2019). Retrieved September 20, 2019, from
Goldman’s role in the 1MDB scandal in 300 words. (2019). Retrieved September 20, 2019, from
The Goldman Sachs Group, Inc. – Business. (2019). Retrieved September 20, 2019, from


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