WHAT IS THE ACTUAL AGE OF A COMPANY? No matter how long a name has been around current ownership always determines current policies. Therefore, a company's actual business experience age is the actual number of years it has been under its current ownership, not the age of its purchased name. HOW DOES A COMPANY STAY IN BUSINESS 25, 50 OR 100 YEARS? I. DON'T BECOME COMPLACENT. Treat each day with the same energy and enthusiasm as the first day of business. II. INNOVATION IS EXTREMELY IMPORTANT. As the late Dr. Deming pointed out, carburetor makers made higher and higher quality carburetors at lower and lower costs but finally went out of business when the fuel injector made the carburetor unnecessary. III. OFFER THE CUSTOMER A VALUE. Quality is important but quality must be a value. For instance: It is of no value to hold the length of a steel fence post to a few thousandths of an inch at greatly increased costs. However, it will be a value to hold certain parts for precision machinery to very close tolerances. Quality is more than paperwork and quality at any cost which is not a value has led to bankruptcy. The quality idea is as old as time. New ideas come and go several times a decade. They must be well evaluated, not just accepted because it is the popular thing to do. IV. PROVIDE W.E.M. A company must be willing to "Walk the Extra Mile" for the customer. When all usual and expected duties have been preformed for the customer but unusual needs arise, the supplier must be willing to "Walk the Extra Mile" in providing assistance to the customer. V. MOST IMPORTANT. Create and mantain a mutual relationship of TRUST and CONFIDENCE by practicing the Golden Rule in dealing with employees, supplier and customers. Policies which torpedo this relationship can only lead to disaster. Refrigeration Research Company Policy Online Catalog Solar Research Division Museum Contact Related Links