Type: Business
Pages: 1 | Words: 270
Reading Time: 2 Minutes

Since Goldman Sachs started conducting business, they were trying to create a culture of trust. In this case, the clients are going to trust Goldman Sachs so that they can have a long-term relationship. This culture continued to work effectively since they were making profits meaning that ‘trust is essential to efficient business.’ The client based Goldman Sachs department can be considered as the client ethic based firm. This is because according to their focus and principles, they are there to protect their clients from losing their money. On the other hand, the marketing firm was providing assurance of returns, but they failed to tell their clients that they were not sure of what would happen in the future. Instead, they were greedy, which is unethical. Therefore, client based department of Goldman Sachs is trustworthy regarding their ethics.

The reason led to the moral principles overriding one another at Goldman Sachs was that the bankers of Goldman Sachs’s clients became greedy. In this case, they made decisions suiting their own interests rather than customers’. Consequently, it led to the customers’ discontent, which negatively affected the company and the public. However, it can be changed by the use of moral norms diversity. Goldman Sachs should consider dealing with people of different cultural values as a part of their team. In this case, people will not be greedy as they come from various cultural backgrounds. In addition, customers will learn to trust the firm because it will not make profit out of them. Therefore, Goldman Sachs needs to employ people with different moral principles. It will provide an efficient work of the company.

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