The Role of the Corporation: To Perform and Serve At The Very
Highest Level In The Following Five Areas
I wrote this in 1991. I would not change a word today
There are a number of inseparable
requirements. By inseparable, I
mean that no one of them will be possible in the long-term without the others. They include the following elements:
1. Providing superior performance and value to consumers
through our brands. That is the
fundamental reason why we exist.
Furthermore, providing superior performance and value is the sine qua
non of having leadership and growing businesses which, in turn, are the basis
for delivering leading profit levels and growth and attracting superior people.
2. Providing superior financial results. This requires superior levels of
profits and return on equity, as well as better growth versus best of competition. This is essential to provide the basis
for continued growth; to attract and retain the strongest people; and to reward
shareholders, an important number of whom are our own employees. Furthermore, superior financial
performance and growth, over time, is the ultimate test whether we are indeed
performing at the highest level in terms of consumer satisfaction and
operational effectiveness and efficiency.
3. Providing a superior environment for top quality
people. This is a requirement in
its own right and a necessity in order to attract strong people without whom
the first two objectives would be unreachable.
4. Conducting the business in line with the right values. I define these values as:
o Striving always to be the best in whatever we do. Leadership.
o Operating with integrity and with honesty in all
relationships; and doing what is right by the spirit and letter of the law.
o Respect for people – working to develop their individual
strengths; dedication to helping each person develop to his/her strongest.
o Innovation; constant quest for improvement; doing better
tomorrow than what we are today.
5. Providing
service to the communities in which we live. This recognizes the opportunity and responsibility we have
as individuals and as a corporate body to be a force for good in creating
improvements in our communities that are essential for the world, including the
world in which we do business. We
need to determine where we can add maximum value in the context of recognizing
our primary responsibilities for the health of our business, without which our
ability to contribute to the community would not exist.
Key Cultural Values:
1. Being our best.
Leadership. In
whatever we are doing. In
market share. In financial
returns.
2. Superior service to the consumer – through our brands. Fundamental underpinning.
3. Innovation and improvements as ways of life. Continued
improvement.
4. Respect for other people. From this flows many things;
·
Respect
for diversity.
·
Focus
on developing other people.
·
Focus
on recruiting and retention.
·
Deep
commitment for people having a fulfilling career, as right in itself and vital
to have a place that the best people will want to work in.
5. Doing the right thing for the long term.
6. Integrity.
Fairness.
7. Acting in good faith.
Being straightforward and open and honest.
