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Organization structure of a company is a road map to the company’s success. A well-designed organization structure makes it easier to identify inefficiencies and new problems as the organization grows. Goldman’s business of buying and selling bonds, commodities and currencies is noted to have a decline it its bank results as compared to the results of the same period in 2016. The overall practice of the Goldman’s business that is being implemented to achieve a primary goal ought to be addressed. It is the organization structure that lays out employee job descriptions and strategic methods to maximize productivity. In 2016, revenue in Goldman’s business is noted to be twice the latest revenue. There ought to be changes in the structure of the historical engines of the bank results, a factor that would maximize revenue (Noe et al, 2003).
Revenue in Goldman’s business could have sunk because of failure to evaluate organizational structure repeatedly. Evaluation of organization structure ensures that the business is functioning more efficiently rather than going down in terms of the sales of bonds, commodities and currencies. Goldman’s business requires an evaluation of its structure with the help of an attorney and other stakeholders.
There is information about the Wall Street firm reporting its first quarterly loss since 2011 because of the $4.4 billion charge that resulted from the new tax law. With the new tax law in mind, there is the need to revise the company’s organization structure. The new paradigm ought to incorporate the suggestions of employees, set out communication guidelines, and maximize productivity even with the new tax law in place. With the new organization structure, it would be advisable to evaluate the business structure at least once in every financial year. It is important to note that the globe of daily commerce is fluid; hence there is the need to apply changes before extreme situations as it is the case in Goldman’s business.
The article notes the difficulty that the competitors of Goldman’s business are experiencing as well. However, the decline in performance of competitors is not as large as that of Goldman’s business. For instance, Bank of America is noted to have had its revenue down by 13% in the fourth quarter as compared to the same period a year earlier. The observation about the general decline in the productivity of business could act as a starting point for the Goldman’s business. The policy tools applied by the authorities to manage the economy would be significant in making important decisions that would place the organization in the international scene (Cooley, 1995).
The article is important as it also highlights some of Goldman’s brighter elements for analysis. The losses incurred by the firm provide an opportunity for readers to think about how the firm can increase its productivity. The brighter elements of Goldman also define the vital policy tools that are required to run businesses. The article, therefore, gives insight on how firms have strengths and weaknesses that could have severe effects on the particular business. Businesses face several challenges because of the changing nature of work and globalization.
The article notes that Lloyde C. Blankfein has to be succeeded, after holding the position of the Bank’s Chief Executive for 12 years. The new employee who would be selected in the Goldman’s business is required to understand the demographic, technological, and shifts in cultures of the society to improve the performance of the bank’s management system
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