What Happened to Goldman Sachs: An Insider's Story of Organizational Drift and Its Unintended Consequences

What Happened to Goldman Sachs: An Insider's Story of Organizational Drift and Its Unintended Consequences

Steven G. Mandis / Nov 12, 2019

What Happened to Goldman Sachs An Insider s Story of Organizational Drift and Its Unintended Consequences This is the story of the slow evolution of Goldman Sachs addressing why and how the firm changed from an ethical standard to a legal one as it grew to be a leading global corporation In What Happened

  • Title: What Happened to Goldman Sachs: An Insider's Story of Organizational Drift and Its Unintended Consequences
  • Author: Steven G. Mandis
  • ISBN: 9781422194195
  • Page: 154
  • Format: Hardcover
  • This is the story of the slow evolution of Goldman Sachs addressing why and how the firm changed from an ethical standard to a legal one as it grew to be a leading global corporation.In What Happened to Goldman Sachs, Steven G Mandis uncovers the forces behind what he calls Goldman s organizational drift Drawing from his firsthand experience sociological research anaThis is the story of the slow evolution of Goldman Sachs addressing why and how the firm changed from an ethical standard to a legal one as it grew to be a leading global corporation.In What Happened to Goldman Sachs, Steven G Mandis uncovers the forces behind what he calls Goldman s organizational drift Drawing from his firsthand experience sociological research analysis of SEC, congressional, and other filings and a wide array of interviews with former clients, detractors, and current and former partners, Mandis uncovers the pressures that forced Goldman to slowly drift away from the very principles on which its reputation was built.Mandis evaluates what made Goldman Sachs so successful in the first place, how it responded to pressures to grow, why it moved away from the values and partnership culture that sustained it for so many years, what forces accelerated this drift, and why insiders can t or won t recognize this crucial change.Combining insightful analysis with engaging storytelling, Mandis has written an insider s history that offers invaluable perspectives to business leaders interested in understanding and managing organizational drift in their own firms.

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      Published :2019-08-03T15:57:41+00:00

    About "Steven G. Mandis"

      • Steven G. Mandis

        Steven G. Mandis Is a well-known author, some of his books are a fascination for readers like in the What Happened to Goldman Sachs: An Insider's Story of Organizational Drift and Its Unintended Consequences book, this is one of the most wanted Steven G. Mandis author readers around the world.


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    1. Goldman Sachs Saga: a story from an insiderThis is a fascinating story of the rise and fall of one of the most influential financial corporation of our times from an insider who witnessed it all. Goldman grew from a modest privately owned investment banking firm (focused on United States), with less them $100 million profit to a publicly traded company with $10 billion profit and equity of $100 billion. In 2006, Goldman spent $16.5 billion in compensation with an average of $622, 000 per employe [...]


    2. "Dark Knight feeling, die and be a hero/ Or live long enough to see yourself become a villain." - Jay-Z"In the passion and depth of their struggle, the very art that had raised them to such Olympian heights was lost. Their techniques vanished." - Duel of the Iron MicThis book, the best insider's perspective on Goldman's history out there, really brings home the ways that large organizations in the capitalist world mirror the continual (and amoral) pressure on every species to evolve in the biolo [...]


    3. Was a better read than I expected it to be. Mandis walks through the organisational dynamics at Goldman Sachs, providing a sociological commentary on its workings as an outsider, and based on his own experiences at the firm as an ex-employee. Succinctly, the intended moral of the analysis is general and applies to any sort of large institution with multiple stakeholders. The take away is that organisational dysfunction often begins with small infractions in institutional norms. And these infract [...]


    4. Steven G. Mandis, AB’92AuthorFrom our pages (Nov–Dec/13): "A Goldman Sachs employee from 1992 to 2004 and then a client after cofounding his own global alternative asset management firm, Steven G. Mandis combines personal experience, interviews, and analysis of SEC and congressional filings to inform his account of the company’s changing culture. Assessing the values that made Goldman Sachs successful, Mandis analyzes 'why and how the firm changed from an ethical standard to a legal one as [...]


    5. Steven Mandis manages to put what happened to Goldman Sachs into a bigger picture. The organisational drift experienced cannot be traced to one event (IPO) or one CEO, but is more complex. Having worked at GS for a year, I recognized many of his observations and appreciated the elaborations of history, anecdotes and organisational theory.


    6. Great history of the company. I learned a lot about the company as it grew, but not sure of the issues that caused the shift. I feel like Mandis might hold a few punches, but over all good lessons to think about if you're starting a company or growing one.



    7. organizational drift…. a bit didactic yet wholly reminiscent of healthcare "growth"idealism is lost to capitalism


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