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About this document
- Pages
- 3 pages
- Price
- $3 one-time, yours to keep
- Membership
- Included in every plan
- Format
- Subject
- Business Ethics, Business Management, Corporate Governance
- Module
- Hsm 230 · Week 2
This assignment analyzes Goldman Sachs’ Code of Ethics. It discusses the firm’s commitment to integrity and ethical behavior, and examines how the code is applied in practice. It is for Week 2 of the Hsm 230 module.
What's inside
- Goldman Sachs' commitment to integrity and ethical behavior
- The firm's Code of Business Conduct and Ethics
- Handling conflicts of interest
- Waivers of the Code of Ethics
- Criticism of Goldman Sachs' ethical practices
Who it is for: Students taking the Hsm 230 module. (Undergraduate)
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Summary
Business ethics and corporate governance are explored through Goldman Sachs's Code of Conduct. Students learn about the firm's principles and how it expects employees to behave.
Integrity and Ethical Behavior
Goldman Sachs's Code of Conduct is based on integrity and ethical behavior. Employees are chosen and promoted based on their principles and values. The firm expects more than just legal compliance.
Conflicts of Interest
The firm's global business can create real or perceived conflicts. Goldman Sachs commits to addressing these with disclosure and transparency. If a conflict cannot be resolved, the firm will forgo the business.
Waivers of the Code
The firm can waive certain provisions of the Code. Waivers for senior officers or directors require Board approval. Employees should discuss potential waivers with an ethics contact.
Criticism of the Code
The Code of Ethics is criticised for being vague and for allowing waivers. This means the firm can suspend the code when it is inconvenient, such as when it stops them from making more money.
Key terms
- Code of Business Conduct and Ethics
- A set of guidelines that inform and guide employees in their roles.
- Business Principles
- Principles that supplement the Code of Business Conduct and Ethics.
- Appropriate Ethics Contact
- A person or team that employees can discuss potential waivers with.
- Conflicts of Interest
- Situations where the firm's interests may clash with those of its clients.
- Waivers
- Temporary suspensions of certain provisions of the Code.
- Integrity
- A commitment to ethical behavior and good judgment.
Questions this document helps with
- How does Goldman Sachs expect employees to behave?
- What should employees do if they think a waiver is needed?
- How does the firm address conflicts of interest?
Summary written with AI from the document's text.
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