AEM 222 Goldman Sachs

AEM 222 Goldman Sachs - Jarett Banks JFB39 1848958 AEM...

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Jarett Banks JFB39 1848958 AEM 222.2 Two-Page Writeup Goldman Sachs April 16, 2008 Five years after the creation of the Pine Street leadership program in 1999, Goldman Sachs was having problems keeping the program relevant. As the years passed, less and less Corporate executives were involved in the programs, and Pine Street Business Leadership was having trouble staying fresh. Additionally, the program was afraid of steering away from Goldman’s focus on company values. The curriculum of PSBL needed to keep up with the constantly changing financial market, while keeping the managing partners enthusiastic about the results. The first option for PSBL to keep their program on track is to report directly to the Chief Learning Officer (CLO) who in turn would report to CEO Hank Paulson. This system of reporting would allow the company to keep all PBSL activity in touch with Paulson, while giving the CLO control over everyday leadership decisions. CLO Steve Kerr has a background from his work at GE and created a comprehensive and innovative leadership program. His presence at PBSL adds credibility to the program. Bringing in an outside manager also presents many problems to Goldman Sachs. Someone not familiar with the Goldman Sachs mission statement could potentially alter the core competencies of the firm at the managerial level which would then trickle down and effect the thousands of employees. Establishing an outside CLO would also require Goldman to spend millions in compensation for the executive position.
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AEM 222 Goldman Sachs - Jarett Banks JFB39 1848958 AEM...

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