Four tenets of business strategy
Poole describes the four cornerstones of his corporate strategy: he aims to build value for customers, employees, shareholders, and communities. He thinks a successful company must balance these four sets of interests.
Citing this Excerpt
Oral History Interview with Lonnie Poole, March 22, 1999. Interview I-0085. Southern Oral History Program Collection (#4007) in the Southern Oral History Program Collection, Southern Historical Collection, Wilson Library, University of North Carolina at Chapel Hill.
Full Text of the Excerpt
JM: Let me turn to what is page two of this letter that I wrote you with some questions for this conversation. Let me ask you a few questions out of what is designated there as section three, business in society. How about your sense of--these are turning to matters that are a little more philosophical--your sense of the proper corporate role in relation to the wider community. How have you tried to position the company in that regard?
LP: Well in the context, we have four basic cornerstones in our overall corporate strategy. It comes down to building value, and we first try to build value for customers. We second try to build value for employees. We third build value for shareholders. A fourth part of that is to build value in the communities where we serve. As long as we do all of those things and keep the priorities right and keep the balance right, then it's good for the company. If you skew it too heavily toward one or the other of those groups or neglect any one of those groups, then I think philosophically a company will have problems.