Why was Goldman Sachs having trouble recruiting the best and brightest MBAs, finding itself competing for talent with high tech firms like Amazon, Google, and Facebook? What lessons can be learned about how culture impacts the strategy execution effort?
What will be an ideal response?
See Illustration Capsule 12.2. Part of Goldman's difficulties stemmed from external events, such as: (1) the banking crisis of 2008-2009 and ensuing scandals; (2) changing values and aspirations of the younger generation that made banking culture far less appealing than that of consulting, technology, and start-up companies; and (3) the tech industry was known for fun, youth-oriented, and collaborative working environments, and the excitement and promise of entrepreneurial ventures offered much appeal. On the internal side, however, Goldman's culture was regarded as stuffy and stodgy-qualities not likely to appeal to the young, particularly when contrasted with the hip cultures of tech and start-up companies. Further, it had always been slow-moving in terms of implementing organizational change. A company's culture is important because it influences the organization's actions and approaches to conducting business. As such, it plays an important role in strategy execution and may have an appreciable effect on business performance as well.
You might also like to view...
After calculating the CLV of its customers, American Auto Supplies identified its most profitable customers and also found that a significant percentage of its customers are unprofitable
Which of the following actions would American Auto Supplies most likely take based on these findings? A) fire its unprofitable customers B) offer the highest level of customer service to its unprofitable customers C) encourage unprofitable customers to become product champions D) discontinue discounts for all but its most profitable customers E) provide slightly lower levels of customer service to its most profitable customers
A decision in which projects are ranked according to their impact on achieving company objectives is a preference decision
Indicate whether the statement is true or false
The ________ are estimates of future demand for a company's products.
A) Operation plans B) PERT reports C) Resource plans D) Critical plans
Oracle offers two models or methods to determine invalidation of remote dependent objects at runtime: timestamp and ____________________________.
Fill in the blank(s) with the appropriate word(s).