W.L.Gore Analysis

2114 words - 8 pages

1. Is W.L. Gore a successful enterprise? If so, why has it been so successful? What are the building blocks of its success? As far as the case readings suggests, W.L. Gore is an extremely successful enterprise. In 2011, it was ranked among the 100 best companies to work for by 'Fortune' magazine for a remarkable 14th successive year in a row. Also for several years in a row it was named one of the best workplaces in the UK Germany, France and Italy, and in recent years it has featured in Sweden and Spain as well among the best companies. The voluntary turnover rate, which shows the percentage of employees who willingly join and leave the company in a fiscal year, was just around 5 percent. It is one third the average rate in industry and one fifth the number among private firms of similar sizes. This shows something right is going on inside and the company culture is phenomenal. It has 9500 employees around 30 companies in the world. The company has been profitable every year since inception. They have revenues over $3 billion. Their employees are having fun and are earning money, and that is a perfect combination employees in a company aim for. It is safe to see it is a successful enterprise. The founder W.L. Gore was enthralled by the thought of culture of innovation. This thought led him to break out of the traditional management practices and create a company that would cherish human imagination and freedom, principles that workers value a lot. The founder had many questions, such as could you build a company without any hierarchy, without bosses and supervisors, where people choose what to work on rather than being assigned something. Can all this be achieved while consistently delivering higher growth? Those questions have been answered by the success of Gore. Firstly, it has been successful due to the unique products it creates, and this chain reaction of successful products was started by the first ever product made by Mr. Gore himself; the Multi-Tet insulated wire and cable. Gore-Texis, another unique product from the Gore industry stables helped revolutionize the company. However the primary reason attributed for the success is the company ideology and principles. "I spend significant time focusing on the environment at Gore. I'm a firm believer that if you get the environment right, the business stuff is easy," says Mr. Kelly, the CEO of Gore. Mr. Gore's management philosophy was vastly shaped by the Maslow's hierarchy of needs. It highlights the five human needs which are in the hierarchical order in the shape of a pyramid - physiological, safety, belonging, esteem, and self-actualization. The latter ones cannot be fulfilled unless the predecessor is satisfied. He realized the human needs and built a system which satisfies all the needs for his employees. He set up the firm with the notion that it can be bureaucracy free. The setup he envisioned gives employees individual freedom and fosters creative growth. He formed a lattice...

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