Business

Goldman Sachs Group is a bank holding company which offers investment and financial services among others. The group was named after its founder Samuel Sachs in 1869 who joined hands with his father-in law Marcus Goldman to form a private partnership which only had a minor reputation but with so much to achieve. Goldman Suchs is one of the best performing financial institution in United States.

First, its success is attributed to the positive relations that the group was able to establish with other banks across Europe in the 1880s.This contributed much to the publicity of the group. Expansion and opening of branches abroad also led the group to enjoy competitive advantage over the others.

Maintaining a proper organizational and corporate culture was key to the success of the Goldman Group. This ensures that any financial institution and their employees abide to some set standards and procedures. Proper organizational culture also ensures that employees feel that they are part and parcel of the operations of the institution. It also leads to the proper understanding of the operational environment (George, 2006).
Sound decision making and risk taking contributes to the success of organizations. For instance, during the recent Sub prime mortgage crisis Goldman group was able to make profits through betting and shorting of mortgage related securities.

A properly conducted business survey is also critical to the excellence of organizations. This ensures that the organization properly understands the market. An excellent organization also drives its productivity through the employees. This is normally achieved through training and support which translates to efficient service delivery to clients.

Finally, sticking to what an organization is good at facilitates its excellence both in productivity and earning the reputation of being a credible employer. Specialization ensures that organizations are able to develop a pool of experts who are available at the disposal of the organization.