Discuss effective leadership from a Christian worldview. Do you believe everyone has the capability to be a leader? Why or why not? Use the Bible to support your discussion.
Resignation Letter to Goldman Sachs Today is my last day at Goldman Sachs. After almost 12 years As you read this chapter at the m-fi st as a summer ntern while at Stanford, then n New York for 10 years, an d now in London-l believe I have See if you can (a) assess the value of disclosing throughthe me- worked here long enough to understand the trajectory of its dia and why you think Smith chose such a public method, and culture, its people and its identity. And l can honestly say that b) determine differing reactions to Smith’s letter from Sachs the environment now is as toxic and destructive as I have ernational employees located around the world. For more ever seen it details on Goldman Sachs, go to their website at www.goldma To put the problem in the simples terms, the interests nsachs.com or to Wwwwsj.com or www.nytimes.com and search of the client continue to be sidelined in the way the firm oper- for “Goldman Sachs” or “Greg Smith. If you’d like to read the tes and thinks about making money. Goldman Sachs is one o remainder of Smith’s letter, go to www.nytimes.com and search the world’s largest and most important investment banks and for “Greg Smith” or the title of his letter: “Why lam leaving it is too integral to global finance to continue to act this way. Goldman Sachs. You can access these websites The firm has veered so far from the place l joined right out easily through the of college that l ca no longer in good conscience say that l n Course MMate identify with what it stands for website for t might sound surprising to a skeptical public, but Communicat- culture was always a vital part of Goldman Sachs’s success. ing for Results. t volved around teamwork integrity, a spirit of hum ty, and always doing right by our clients. The culture was Daniel Acker/Bloomberg the secret sauce that made this place great and allowed via Getty Image us to earn ust for 143 years. It wasn’t just our clie his alone will not sustain a firm for about making money so long. It had something to do with pride and belief in the am sad to say tha ook around today and ng an example, and doing the right thing. Today, organization you ace of the culture at made me love ake enough money for the firm (and are not currently an ax See V ally no working for this firm for many years no longer have the murderer) you will be promoted into a position of influence. pride, or the belie What are three quick ways to become a leader? a) Ex- But this was not always the case. For more than a ec e on the firm’s axes which is Goldma an-speak for decade l recruited and mentored candidates through our persuading your clients to invest i n the stocks or other was selected as one of 10 products that we are trying to get rid of because they grueling interview process people (out of a firm of more than 30,000) to appear on our are not seen as having a lot of potential profit. b) “Hunt recruiting video, which is played on every college campu Elephants. n English: get your clients-some of whom are visit around the world. In 2006 l managed t summer of whom aren’t-to trade what sophisticated, and some We intern program in sales and trading in New York for the 80 ever will bring the biggest profit to Goldman. Call me old college students who m the cut, out of the thousands fashioned, but ade I don’t like selling my clients a product tha who appl ed is wrong for them. c) Find yourself sitting i n a seat where I knew it was time to leave when I realized I could no ob is to trade any quid, opaque product with a you onger look students in the eye and hem what a grea three letter acronym. place this was to work. It astounds me how little senior management gets a ba How did we get here? The m changed the way it sic t h: If clients don rust you they wi eventually stop do- thought about leadership. Leadership used to be about ideas ing business with you. It doesn’t matter how smart you are director Greg Smith that appeared on page A27 of the New York Times on a shortened version of the resignation letter by Sachs executive March 14, 2012 66 2013 Cangape Leaming. All Righto Reacrved May be copied or duplicatod right, third party ditorial review has deerned that any suppressed gage Leimini the right ghts restitions requi
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