Partnerships with our management teams create multiple paths of value creation. We value people and build strong relationships. We are engaged owners, but not day-to-day operators creating a culture of collaboration and providing strategic resources and guidance to support our management teams.
Shared ownership is the cornerstone to the growth-oriented culture we drive in our businesses. We encourage skin-in-the-game investment along with equity incentives, then push that ownership very deep in the organization. We want managers and key personnel thinking like owners and less like employees, aligning the strategic and economic interests of everyone involved.
LEAN is the process of continuous improvement and the relentless elimination of waste across every facet of an organization. LEAN is not about cutting costs, but improving internal processes to create better customer outcomes. These activities are not limited to a manufacturing shop floor, but can be applied to all types of businesses and parts thereof.
Add-on acquisitions accelerate growth by acquiring new technologies, expanding product or service offerings, entering into new geographies or adding depth and breadth to a management team. We do not undertake acquisitions unless there is a strategic capability added in the mix. As we say, 1+1 must equal at least 3 or 4.