When Confronted with Problems in Recruiting Newly Minted Talent from Top

question 14

Essay

When confronted with problems in recruiting newly minted talent from top business schools, what steps did Goldman Sachs take to change its culture and work climate? What lessons can be learned from Goldman's efforts about the culture change effort to promote good strategy execution?

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Definitions:

Unemployment Rate

The number unemployed as a percentage of the labor force.

Technology

The application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machines, techniques, and processes.

Production Possibilities Frontier

The Production Possibilities Frontier is a curve depicting all maximum output possibilities for two goods, given a set of inputs.

Bowed-shaped Curve

A graphical representation that shows a diminishing rate of return, illustrating that as more of one good is produced, greater sacrifices are made in foregone production of another good.