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Competitive pressures forced Goldman to reexamine and modify its strategy. For example, Goldman redesigned and restructured into industry groups. Industry knowledge was so valued that, for example, I worked on projects evaluating whether Goldman should buy a consulting firm with deep industry knowledge and CEO contacts, or a boutique investment bank focused on an industry-like technology. Goldman also put greater emphasis on expanding its powerful network of key decision makers (CEOs, chief investment officers, government officials, etc.) and on trying to ensure that the relationships and information were highly coordinated and selectively and tactically shared.
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Steven G. Mandis (What Happened to Goldman Sachs: An Insider's Story of Organizational Drift and Its Unintended Consequences)