As a result of the 2008 financial debacle and the recession that followed, Goldman Sachs has been under the microscope within the financial industry. Read about Goldman Sachs by clicking the following blog link: Goldman: Still Greedy, No Longer Patient.
For the Midterm Assessment, you will write an essay concerning Goldman Sachs' evolving culture and what effect this has had on the company, their clients, and the public. Be sure to address the following questions within your essay:
1.Trust is essential to efficient business. Which of the two descriptions of Goldman Sachs that you read about in the blog, the client-ethic based firm and the market making firm, do you feel warrants the trust of its customers? Explain why you feel this way.
2.Consider the three prescriptive approaches to ethical decision making in business that Goldman Sachs can use. Describe them and recommend how Goldman Sachs can use one or all of them.
3.Are scripts overriding the old values system at Goldman Sachs? Explain why.
4.How can diversity play a role in changing the values system at today's Goldman Sachs?
5.How did Goldman Sachs client-ethic change? Can its current values system be changed to one that is more ethical and trustworthy? How can this take place?