Reference no: EM132306481

“In 1946 Brazeway was born as a company… a partnership. A true partnership between two individuals with common philosophies and complementary talents.

Brazeway is now a corporate entity. It takes on appearance, personality and warmth from the people that work within its structure. A corporation is an organizational structure; alone it can do nothing. Only people can give it purpose and direction and only people will be successful.

Brazeway’s purpose, direction and personality were established through the talents and insight of its founders, Allen Goldsmith and Charles Hickman. Included in that original personality was competence, innovation and sincere responsibility toward mankind.

Brazeway prospered and grew because it identified needs and developed innovative products and services to solve them. Brazeway was profitable and that profit paid for expanded buildings, machinery and more time and effort to develop new products, which resulted in more and better jobs.

One other major reason for Brazeway’s success was constant firsthand communication and cooperation. People knew what was going on and why. They recognized that Brazeway’s success was their success and they stood in the limelight of that success.

Brazeway today (circa 1995) is the lengthened shadow of its founders, but the founders are gone. Gone also is the time when one or two people can dominate the work and personality of a mature and growing business.

The problems of our business today are many and complex to the point that no one person can solve them. The ideas and cooperation of all employees are needed if we are going to continue to compete and prosper. Competent and responsive management is necessary at all levels of our operations and simple business experience is no longer sufficient. We must ensure that a high sensitivity to human problems and potentials is maintained, for it will be a prime determinant of our success.

Our past successes were the results of communication and interaction and we need to manage now through a style that generates participation – sharing information, trading points of view with all that have a stake in our operation. We have to be guided by good ideas regardless of where they originate. Management holds no monopoly on good ideas.

We certainly have not realized the full potential of this aim – but I believe it is right - and it is the direction we are going.

Brazeway must continue to identify needs and develop innovative products and services to solve them. We continue to make meaningful contributions to the industries and communities that we serve. Our continuance will be a direct result of our profitability. Our profit will be a direct result of how well we identify needs and serve them.

These products and services will result from how well we develop the environment for participation and individual growth.

We have to maximize the return on investment to our customers. They have placed their business with Brazeway; if they can receive a better return elsewhere, we will no longer have that business.

We need to maximize the return on investment to our suppliers. If we fail to cooperate, fail to communicate and fail to pay our bills, they will do business elsewhere and we will have no materials for production.

We must maximize the return on investment to our shareholders. There are many alternatives for investment dollars. If Brazeway does not generate a competitive return, our source of capital will be gone. We will not be able to expand, we won’t be able to generate new equipment to replace old, our buildings will crumble from lack of repair and our jobs will crumble with them.

We are compelled to maximize the return on investment of our employees. If the talents and energies of our employees are not rewarded, they will choose other areas to invest their capabilities. To maintain what Brazeway is and stands for, we must have the best people available, train them well, give them room to grow and reward their achievement.

We have to concentrate on all four of these investments because to fail in one area will cause the others to fail. It is our mandate.

Brazeway is a closely held corporation. It is a healthy, viable and growing corporation with a purpose. A specific and definite commitment has been made to Brazeway’s continuance and growth.

As Brazeway grows, the shadow of our founders will become illuminated by the energies of hundreds of unique contributors. We invite you to be one of them.”

Explain how this Philosophy Statement could satisfy the Core Values and Concepts or key principles of the Baldrige Criteria.