Goldman sachs project (Maddie)

SUBJECT

DATE NAME16/1/12 MADDIE

BUSINESSES-BANKING-GOLDMAN SACHS

Tuesday, 22 January, 13

The System- How it works

(A bank is a financial organization/institution) Shareholders vote on a board of directors, or managers of the company. The board of directors hire the senior employees-the bosses of parts of the company (not all of them;some get promoted from lower ranks) The seniors hire and fire the mid-level and junior employees, come up with strategies to run the business, and to market the products they sell(through stocks). The mid-level employees organize/put the strategies (the seniors make-up) to action. They also hire the junior employees, and do day-to-day business. The juniors actually DO the things that the strategies include, and do what the mid-levels tell them to. They are like the followers of Jesus. Every 3 months, the seniors write a report to the board of directors, to let them know how the company is doing.


The i

mpact

System

Of The

PositiveBecause the company is divided into many

departments, the responsibilities of the employees are divided. This means that one

person does not have to do all of the responsibilities (of the company). Because

there are ranks, it means that if the employees are having trouble in work, their bosses can

help them/give advice/give feedback, because they have been in that situation before (if they

moved up in ranks).

NegativeThe juniors don’t really have a say in how the company is made, even if they have a BETTER idea than

the seniors (in how the company is run). They would have to move up/

get promoted!


•Department of securities-Buy and sell stocks•Investment bank-Advice to other companies (only the clients)•Asset management-Invest money in other companies•Global Investment Research department-provides fixed paycheck, information for other companies.

Goldman has manyparts that make up the

company. Below are some of the most important.

The company is like blocks; different parts of a company.

Roles�� and�� jobs


Rights

~Positive~Everyone has the right to a contract-basically a legal agreement. A contract is also an agreement to work, and to not just sit around all day and get payed for nothing. Everyone also has the right to a fair paycheck, which may be money, or shares/investments in a company (the shares can not be sold for a period of time). The senior employees have the right to make decisions for the company, and for the decisions to follow through-for the employees in the lower ranks to DO what the seniors tell them to do (not do it how THEY think is right.). But, the middle ranks and junior ranks DO have the right to try and change/recommend something the seniors mind-they can call in a meeting.


NEGATIVE RIGHTS

The juniors don’t really have a say in how the company is made, even if they have a BETTER

idea than the seniors (in how the company is run). They would

have to move up/get promoted!


Education

Goldman sachs project (Maddie)