LEADING BUSINESS 4
Theorganization culture of Goldman Sachs can be indicated to beexcellent and enticing. One of the reasons why it can be deemed to beinteresting is because it has clearly laid principles that guide itsemployees. According to the case study, the organization provides itsnewly-hired employees with 14 principles that offer a guide to thecompany’s culture. Besides, the organization has a website where itclearly presents the principles that it follows. Furthermore, theculture of the entity is interesting since the organization is in aposition to offer attractive perks such as lectures by celebritiesand on-site health club. In addition, the culture of the organizationemphasizes on engaging workers in sharing their ideas. Given thispositive culture concerning Goldman, I would argue that theorganization provides an environment that employees would enjoyworking in. However, the company requires employees to work for 70 ormore hours in a week. This involves overworking the employees, whichmay be discouraging to be in the organization. However, from thebenefits provided by the entity, I would enjoy working in theorganization.
Accordingto the Competing Value Framework (CVF), there are four types ofculture that include adhocracy, hierarchy, market, and clan (Yu &Wu, 2009). The adhocracy culture acts like a temporary institutionwhere there is dismissal once organizational tasks become completed,and reloading commences when new assignments emerge. The hierarchyculture is different since it tends to have a clear organizationalstructure, standardized guidelines and procedures, firm control, anddefined tasks. Alternatively, the market culture emphasizes on thetransactions with the setting outside the company rather than on theinternal management. On the other hand, the clan culture includessharing of values and common goals. Also, this culture focuses onempowerment as well as worker evolvement (Yu & Wu, 2009).
Ithink the culture that can be indicated to exist at Goldman Sachs isthe hierarchy culture. This is because the company has clear,standardized rules that guide its operations. For instance, theentity has 14 principles that are well-developed to offer a guide onhow the business conducts itself. Moreover, the organization has madeit clear that employees are expected to work for more than 70 hours.
Ahealthy culture is critical to a company’s success. Ethics shouldalways be part of an organization’s practices so as to ensure thatthe stakeholders such as clients and employees benefit as the entityreaps from them (Lencioni, 2012). In maintaining a strong culture, Iwould recommend that Goldman Sachs should consider keeping customersas their priority. The organization can do this by ensuring that itprovides services to clients as they require them. Providing qualityservices would ensure that clients receive the best in the market.The firm should also ensure that customers are not discriminatedagainst in terms of the price charged. Alternatively, the businessshould also focus on its employees. I recommend that employees shouldbe treated well through ensuring that they receive remuneration basedon the work that they carry out. Thus, the more they work, the morethey are supposed to earn. The company should include differentemployees’ benefits and ensure that they are satisfied working inthe organization. Furthermore, in decisions that involve the welfareof the workers, it would be substantial for the business to engagethem accordingly.
Lencioni,P. (2012). Theadvantage: Why organizational health trumps everything else inbusiness.San Francisco, CA: Jossey-Bass.
Testingthe Health of Goldman Sachs’s Culture Case Study
Yu,T. & Wu, N. (2009). A Review Study on the Competing ValuesFramework. International Journalof Business and Management,Vol. 4 (7).