Business and Management Organizational Culture Name Institution Organizational Culture Wells Fargo – Goldman Sachs Wells Fargo is among the most respected banks in the US, with its headquarters based in San Francisco California, with different hubs spread out across the country. It is among the market leaders in the industry having been ranked second-largest bank by capitalization in the world, and the third largest institution in the US by assets. The company has made significant strides in the industry in the more than two decades of its existence, having substantial investments in different sectors. Goldman Sachs engages in financial activities, with a global presence in several countries. The company was birthed in 1869 by Marcus Goldman, and it has withstood the test of time continuously making its mark in the world’s financial market. …show more content…
Due to the pressure placed on staff and their need to meet the company target to earn more, the team engaged in opening unauthorized accounts since 2011, resulting in millions of clients paying more fees without knowledge of what was happening. With its strict policy, the then CEO John Stumpf was required to resign as everything occurred under his reign (Caywood, 2012). In the case of Goldman Sachs, the company staff has been working cohesively in achieving their goals even after the 2008 economic crisis. Due to the level of prestige, it acquired over the years; the senior management has risen to take over executive positions in government and other financial institutions, precisely showing recognition of the skill set present in the company. According to Sun (2012), even with the criticism that Goldman Sachs faced during and after the financial crisis, they kept on enjoying success in their future years of