The chief executive of Goldman Sachs, Lloyd Blankfein, said in 2009 that banks serve a social purpose and are "doing God’s work. We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. It’s a virtuous cycle." On the other hand, Goldman Sachs earned around $12 billion and would hand out more than $16 billion in year-end bonuses. The average employee earned $500,000 for the year. Despite the rhetoric, Blankfein’s leadership was probably

Transactional leadership can be contrasted with transformational leadership because of their different focus. Transactional leadership favors a process and control management structure that elicits compliance. Compliance is rewarded while non-compliance is punished. On the other hand, transformational leadership inspires followership with a high degree of communication strategy coordinating activities and engendering a cooperative spirit. Contingency-based leadership is situational and advocates that leadership style should be dictated by prevailing circumstances.

suchetasVT suchetasVT · Answer 2 · 2022-03-09T12:32:37+01:00

Goldman Sachs chief executive Lloyd Blankfein's leadership was probably transactional which involved a system of rewards and punishments to inspire its followers.

What is Transactional Leadership?

This type of leadership uses a system of rewards and punishments to inspire its followers. Control, organization, and short-term planning are characteristics of transactional leadership.

Transactional leadership can be contrasted with transformational leadership because of its different focus.

Transactional leadership favors a process and control management structure that elicits compliance. Compliance is rewarded while non-compliance is punished.

On the other hand, transformational leadership inspires followership with a high degree of communication strategy coordinating activities and engendering a cooperative spirit.

Contingency-based leadership is situational and advocates that leadership style should be dictated by prevailing circumstances.

Hence, Despite the rhetoric, Blankfein's leadership was probably Transactional.

To learn more about transformational leadership, refer to the link:

https://brainly.com/question/25626701