by Jerome a Paris
Tue May 15th, 2007 at 11:31:17 AM EST
From an interview with Wendelin Wiedeking, the CEO of Porsche:
His evident fondness for his workers is reflected in other aspects of his business philosophy. "Our business model is only financed by customers. So we have to pay a lot of attention to our customers. When the customer is happy then the worker is happy too and so are the suppliers. Then there should be enough money left for the shareholder. But that is the order of importance," he says.
All of this is part of Mr Wiedeking's insistence that he is not a slave to the capital markets: "The question is: how can society allow capital to make all the rules? I have never understood shareholder value as it leaves so many things out. Shareholders give their money just once, whereas the employees work every day."
Underlying Mr Wiedeking's philosophy is a fervent belief in the value of credibility. He says his move on VW was "credible" because of his experience in turning round Porsche. Similarly at Porsche he has taken a stance on certain issues - turning down subsidies to build new factories in eastern Germany or refusing to offer incentives to sell cars, for instance - to boost customers' belief in the brand and its image.
"Credibility is the key word. You have to show customers, workers, colleagues that you are going for something not for the short term, not because it is trendy or posh but because it is sustainable and down-to-earth. That is what I've practised and always will."
How quaint. Or maybe not.
promoted by whataboutbob