Seems funny to say, but businesses have beliefs too — they encompass the spirit of the enterprise and the ethical practices of the institution’s employees.
Goldman Sachs is in the news this week (again) for its decaying culture. This time over an open letter written by a departing employee. Now, to be clear Goldman’s slide from “client first” to ripping the faces off muppets has been a gradual, slow one that has been happening for a long time. But it raises the question: how has the bank lost its way?
Goldman is a bank and its focus on making money is part of its DNA, to be sure, but it may have forgotten itself in its rush to make money through approaches it used to avoid. Its mission has been exposed as words with no real meaning, and it should act as a reminder of the importance of living the company’s mission everyday.
Mission: A company’s mission statement covers the core purpose and goal of the organization, and acts as a guide in daily decision making and performance — it should be straightforward and measurable.