KTC’s longevity is attributed to the following 10 principles we adhere to in our daily business.
The management at KTC actively lives the ideal of the role model internally as well as externally. Open discussion, and neutral, factual evaluation of challenges, are of utmost importance for internal challenges, as well as discussions with business partners and clients. Only with a trusted reputation of being honest, fair, and reliable can the best decisions be made when departments or partners with contrarian targets seek to work out the best solution together.
A reputation of honesty, fairness, and reliability is essential when decisions have to be made between colleagues or departments, as well as with business partners or end consumers; doubt in any of these groups will lead to friction, distrust, and lost business.
HONORABILITY – A MATTER FOR THE BOSS
Company values, and corporate culture, are a direct reflection of how the head of the company acts and leads. Only when the boss acts honorably and credibly can the company live and breathe an honorable business ethic.
The best written out corporate culture and code of conduct have no meaning if they contradict the daily practice of the people leading the company.
At KTC, employees at all levels can see that in their daily work and routines, and how the leadership places honorability as a core value. Our people naturally adapt to this culture. All this without the need for official codes and corporate culture pamphlets which are often abused. People mirror the way they see leaders act and pass on the values they experience themselves.
HONORABILITY IN STRATEGY
Over many decades of business, KTC has proven that honorable practice leads to an honorable reputation, and attracts and sustains a reliable business.
Creating a transparent business environment and partnerships based on clear and fair expectations, as well as a clear and fair picture of what the partner can expect, is the best way of enabling a mutually profitable business with a long-term perspective.
STRIVING FOR WIN-WIN-SITUATIONS
Creating win-win situations is essential for KTC’s business approach. We strongly believe in long-term partnerships that generate profit by enabling both or all partners to earn from the relationship.
PLANNING FOR THE LONG-TERM
Together with the aforementioned points, planning is an essential pillar, which naturally leads to long-term relationships and profits.
FOLLOWING THE RULES OF THE GAME
We accept and embrace being dependent on others. We rely on our shareholders to commit to our business strategy, we rely on our customers to want our services, and most importantly, we rely on our employees to craft products and keep our operation running. For the same reason, all of them rely on KTC to generate a profit, to manufacture their pinnacle products, and to stay busy. This immensely complex structure of dependencies can only function when everybody involved is playing by the rules. To be reliable and efficient today as well as in the future.
KTC practices consistency as much as we appreciate it. While we are aware that today’s plans may change at a later stage, consistency is of utmost importance to create a stable environment and relationship between all stakeholders involved in the operation. Only by being able to plan and rely on a direction, and to be informed and align to changes in direction, can everybody pull the same strings in that direction.
In many aspects, KTC experiences how essential this point is for being an honorable merchant. While it may appear as a marginal point, somewhere south of “just good enough to fill the list of ten”, it proves to be of utmost importance in daily operation. Without this point, all the other ideals and commands are merely fancy phrases. Only by taking things to heart and standing by all the other points above can the honorable merchant truly become credible. Many of the aspects of being the honorable merchant will feel cumbersome or difficult in the short term, and even the most honorable of merchants has to be aware of just being a human with the temptation of taking the easy way out in challenging times.
BEING OPEN FOR NEW IDEAS
After almost fifty years in the business, we have seen our industry change, our partners develop, and new challenges arise. Staying open-minded and adaptable is the pre-requisite to not just staying ahead, but alive. Looking back over time long gone, as well as looking at the recent months, in particular, emphasizes how utterly important it is to be open for new ideas, to make changes work, and to make the whole organization work better. While KTC is a founding father in the manufacturing business, working with an open mind keeps us far from being a fossil.
Keeping promises is as easy or difficult as one makes it. Well planned and thought-through promises are easy to keep. The more holistic we align ourselves with the mentality of being an honorable merchant, the better foundation we create for being capable of keeping our promises. In our experience and practice, keeping promises is a direct result of following the rules of an honorable merchant, and it does not, and should not need to be an effort in itself.
These 10 basic principles of doing business ethically remain a rock-solid foundation for KTC and have been a part of our company culture internally as well as externally, helping as survive during these turbulent times.