Leadership Development at Goldman Sachs Harvard Case Solution & Analysis

Introduction

Goldman Sachs was founded in 1869 as a broker of promissory notes on the lower of Manhattan’s Pine Street. The capital of the organization grew immensely since its origin at a rapid pace. In 1906, Goldman Sachs grew its operations by entering into underwriting business. Sidney Weinberg became the senior partner due to his untiring efforts and operations for the growth of the corporation. His efforts were the reason the corporation was able to strive itself through the depression that was occurred postwar. The corporation efficiently cultivated the existing contacts and focused majorly on the leading corporations as their clients.

In 1999, the finest of the company’s executives have joined heads for making the final and efficient final touches to the ground-breaking leadership development program of Goldman Sachs. The company has gained growth through its efficient operations.During the growth years of the company a number of management leaders performed significantly and they are selected by evaluating the future needs of the company with respect to the training and development of the managers of the company. The major aspect of the evaluation process was to initiate an effective and systematic approach for developing the managing directors for Goldman Sachs.

After six months of intense brainstorming and critical discussions amongst these leading managers of the organization followed by interviews with the expert and highlighting the best practices that can contribute to the leadership development program successfully. Now it was finally the time for them to present their findings and explorations regarding the leader development plan that compromised of concrete recommendations and how the company can resolve a number of major issues.

Core Issue

“Can the company rely on a formal leadership development plan for reaching the top?”

Analysis

Impact of Training &Development on Employees &the Organization Performance:

It is observed that efficient HR practices can motivate the employees towards not only higher levels of commitment and involvement but they also enhance the performance of the employees which leads the organization towards their stated goals and objectives. The organizations that imply effective HRM practices have more chances and opportunities to improve the skills and behavior of the employees. The attitude of the employees in an organization can be heavily influenced by the organization as per the required situation. When operating in a competitive industry, the organizations even with large existence have to adapt to the changing dimensions of the market to continuously sustain and increase their market share. Adapting to different strategies requires a number of changes in the organization, not only to their strategies and business models but the behavior and the working patterns of the employees are affected by the changed approach of the company.

In such conditions where an organization is adapting to the conditions of the markets by making changes to their business structures or their approaching strategies, a situation like this requires the employees to adapt to the changed scenarios of the industry. If a certain organization has been following efficient training programs that focus on enhancing the skills and potential utilization capacity of their employees, then that organization would have more chances of striving out of the situation as their organizational outcome would not be affected by the changed parameters of the industry(O Janssen, 2004).

Organizations can heavily benefit from development programs due to higher level of involvement of their employees. The realization levels of the employees would be high regarding the objective of the company and how the company can move towards the stated goals.Employees’ level of involvement can immensely affect the organizational performance if the development plans are followed and conducted efficiently and appropriately.

Superior level of performance from the employees can be achieved when the management of the company are able to convince the employees about their importance and what value their performance adds to the organizations growth. Training and development programs help in creating a strong relationship between the organization and the employees due to the abundant evaluation processes.

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