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  • November 2003 (Revised April 2004)
  • Case
  • HBS Case Collection

Internal Governance and Control at Goldman Sachs: Block Trading

By: Malcolm S. Salter and Ratna Sarkar
  • Format:Print
  • | Pages:20
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Abstract

Although the explicit problem presented in the case concerns pricing a block trade, the real issue involves the decision-making and oversight processes used to arrive at a price that is appropriate for both the client and Goldman Sachs. Asks students in assignment questions to map the decision and control processes used in this core activity and then to reflect on whether these processes are sustainable and scalable as Goldman Sachs grows from 5,000 employees to 20,000 employees within a 5-year period. Goldman Sachs' decision and control processes are based, at root, on trust, so the question becomes whether and how a culture based on trust is scalable.

Keywords

Price; Governance Controls; Trust; Organizational Culture; Decision Making; Financial Services Industry

Citation

Salter, Malcolm S., and Ratna Sarkar. "Internal Governance and Control at Goldman Sachs: Block Trading." Harvard Business School Case 904-026, November 2003. (Revised April 2004.)
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About The Author

Malcolm S. Salter

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