Greg Smith, on resigning at Goldman Sachs:
It might sound surprising to a skeptical public, but culture was always a vital part of Goldman Sachs’s success. It revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients. The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years. It wasn’t just about making money; this alone will not sustain a firm for so long.
Culture is the secret sauce that keeps a company (especially a services firm) going. Humility, above all, is necessary for you to be able introspect and learn from competition.
If you’re not humble, you will overlook what eventually kills your company.