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Good leadership, the company says, is built on teamwork and change and grounded in integrity and fairness. A leader must have a clear vision and the communication skills needed to execute.
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list below lists Goldman Sachs’ nine leadership principles. It took more than a
year of work by the firm’s managing directors and senior leaders to create them.
1. Act with a Profound Sense of Integrity and Fairness.
The daily stewardship and embodiment of these values--as highlighted in our
Business Principles--is the primary responsibility of all leaders at Goldman
Sachs. Integrity and fairness lie at the core of our firm’s heritage, our
services to our clients and our cultural strength Leaders at all levels of the
firm must uphold these values in their daily decisions and actions and instill
them in their people as well.
2. Deliver Business Results Through Commercial
Excellence and People Development. Commercial excellence is the lifeblood of
the firm and a key source of leadership credibility. Outstanding leaders create
profitability not only through business development and client service but also
through recruiting, coaching, developing and retaining the best people. Leaders
develop leaders, and leadership demands consistent and purposeful investment of
time with our people.
3. Build Strong Client and Other External
Relationships. The success of our firm depends on the quality of our
relationships with a broad group of influential clients and leaders around the
world. Our best leaders successfully develop long-term relationships across
multiple cultures. They succeed through outstanding client service as well as
playing leadership roles in external business and community groups.
4. Drive Teamwork Within and Between Businesses.
Teamwork and dedication to the firm’s greatest good are competitive advantages.
Leaders maintain a strong network of relationships across the firm. They
cross-market the firm’s products and services and actively share ideas and
talent across divisional, departmental, regional, and hierarchical boundaries.
5. Foster Learning, Innovation, and Change. Leaders
welcome and drive change. They constantly extract the learning from their own
failures and successes as well as those of others--both internal and external to
Goldman Sachs. They build on our past success but also take the entrepreneurial
risks necessary to innovate and grow our business.
6. Debate Freely, Decide Swiftly, and Commit.
Leaders challenge the status quo and have the courage to express and allow
disagreement. However, they drive issues toward decisions, and embrace decisions
once they have been made.
7. Promote Meritocracy by Welcoming and Leveraging
Differences. Our clients and employees comprise a heterogeneous group of
successful, influential men and women from all cultures, races and ethnicities.
Leaders create meritocracies that recognize and reward the diverse people and
talents the firm requires to succeed around the world. They ensure that all
employees have opportunities, free from artificial barriers, to rapidly advance
to the utmost of their abilities.
8. Develop Strategy and Execute. Leaders develop
and articulate a clear vision and strategy for their business and set concrete
goals toward realizing their strategy. They move quickly, make tough decisions
and show excellent judgement. Finally, they are relentless in prioritizing
actions and executing to the highest standards.
9. Create Trust and Credibility Through Honest
Communication. Our best leaders communicate fully, directly and candidly,
and they follow with action. They are also good listeners. Above all, they
recognize that the power of their personal example is greater than the power of
their words.
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