Transcript Deep Learning Keys - Barry

We Believe in
People, Purpose, Performance
Bob Chapman
Chairman and CEO
Who We Are
Barry-Wehmiller Companies
Founded in 1885 in St. Louis, we began a new
leadership journey in 1975 as a $20 million producer of
brewery equipment with marginal financial strength and
have become:
 An American-based global provider of capital
equipment with more than $1 billion in revenues
 Over 65 global locations and 5,200 team members,
with union and non-union facilities
 Privately held by 400 shareholders with an outside,
professional Board of Directors
 A blend of 48 separately acquired companies
Barry-Wehmiller Companies
 Surviving challenging yet enriching experiences
in the late 70s and early 80s, we articulated a
growth strategy in 1988 that was focused on
balance and sustainable value creation.
 Implementing this vision, we have grown revenues
and share value by 19% per year compounded for
21 years.
 In this economy, our business model has been
challenged and our performance has been solid.
In FY ’09, our share price growth exceeded 12%
while we continued to invest in our culture.
Balance of Markets
Container Mfg
Envelope
$45 $65 $30
Industrial
Corrugated
$215
$167
$45
Pharmaceutical
Converting
$31
$35
$202
$178
$52
Beverage
Foods
Snack Foods
Total Revenues: $1.1 Billion
Other
Household &
Personal Care
$0
FY '87
FY '88
FY '89
FY '90
FY '91
FY '92
FY '93
FY '94
FY '95
FY '96
FY '97
FY '98
FY '99
FY '00
FY '01
FY '02
FY '03
FY '04
FY '05
FY '06
FY '07
FY '08
FY '09
FY '10e
$ Millions
Revenue Growth
$1,200
$1,065
$1,150
$1,000
$941 $953
$800
$772
$600
$520
$425
$400
$323
$200
$248
$44
$95
$132
Fiscal Year
Share Price Trend
Share Price Trend
Share Price Trend
(18% Compound Growth)
$40
$33.60
$ / Share
$31.00
$27.67
$30
$23.38
$18.38
$20
$12.03
$10.73
$10
$7.03
$5.89
$16.70
$8.36
$10.68
$0
$4.94
My Leadership Journey
 B.S. in Accounting from Indiana; Michigan MBA;
joined Price Waterhouse in 1968
 Joined BW in 1969 and worked in all disciplines
 Upon my father’s death in 1975, my intense period
of leadership development began at age 29.
 At this same time, I was raising a family of six, and
was experiencing a wide range of similar leadership
and life challenges.
My Leadership Journey
 1976 - 1982 Dramatic and undisciplined growth
 1983 - 1987 Extended period of financial crisis
 1985 Began acquisitions to re-engineer company,
inspired by Emerson model for growth
 1987 IPO on London Stock Exchange resolved
financial crisis
 1988 A new beginning with focus on “Achieving
Principled Results on Purpose”
My personal vision became…
“To touch as many lives positively as I can”
What We Believe
What We Believe
At Barry-Wehmiller, WE BELIEVE that
business enterprise has the opportunity to
become the most powerful positive
influence on our society by providing a
cultural environment in which people can
realize their gifts, develop and apply their
talents, and feel a genuine sense of
FULFILLMENT for their contributions in
pursuit of a common inspirational vision.
What We Believe
“You are here to enrich
the world, and you
impoverish yourself if
you forget the errand.”
– Woodrow Wilson
True Nature of Commitment
We believe that we are stewards of each unique
person who is part of our organization!
What We Believe
 We embraced Lean as we heard
that it was all about people.
 We learned that Lean, as
commonly practiced, was all
about profit improvement.
 Our Living Legacy of
Leadership (L3) is a hybrid
approach that combines our
unique leadership principles
with Lean tools to create a
more inspirational model.
What We Believe
 Lean is a powerful leadership tool that is
fundamental to creating sustainable value and
fulfillment for ALL STAKEHOLDERS.
 When Lean is embraced only as a tool for profit,
we miss the powerful opportunity for inspirational
and sustainable continuous improvement.
 Steve said it best:
“I am talking to my wife more!”
What We Believe
 How are we ever going to create sustaining value
organizations if we don’t fully discover, develop,
engage, recognize and reward the substantial gifts
of our team members?
 Remember… Only 10% of people who go to
work believe that the organization they work
for cares about them.
What We Believe
“We have paid people for
years for their hands and
they would have given us their
head and heart for free if we
had only asked!”
– Ken Blanchard
What We Believe
We believe in People, Purpose
and Performance.
It is with this simple clarity of
purpose that we strive to harmonize
all aspects of our vision and related
leadership and recognition initiatives.
How We Live Our Beliefs
How We Live Our Beliefs
 We develop compelling visions and
share them in an inspiring way.
 We foster inspirational leadership
to realize our vision, reinforced by
education in our unique brand of
people-centric leadership.
 We strive to recognize and reward
team members along the journey in
timely, proportionate and
thoughtful ways.
Vision . . . Where and Why?
 We challenge all our teams to develop visions for
growth that “paint a picture” of what could be
and the value created.
 Visioning has become not only a discipline for
our business units, but a powerful leadership
technique for all departments and teams.
 Visioning is more powerful than simply planning;
it inspires the engagement of the entire
organization.
Barry-Wehmiller University
BWU Vision:
Barry-Wehmiller University is
founded upon the conviction that
it is our responsibility to
develop an integrated,
inspirational and sustainable way
of living our L3 vision.
We now teach our own
people-centric approach to
continuous improvement.
Barry-Wehmiller University
 We have developed 12
Leadership Practices
that our frontline leaders
strive to exhibit each and
every day.
 We strive to teach
“inspirational leadership”
while unlearning
traditional “management.”
The Honor of Professorship
 Our classes are taught by frontline leaders,
who are invited to share their knowledge,
passion and experience with their peers.
 The unique content of our classes is
developed internally by our own leaders.
“I believe we can change
the world for the better…
one job at a time!”
– Carl Gurbelski, MarquipWardUnited
Barry-Wehmiller University Impact
“I had a vision in my head and heart for the kind
of leader I was, but I knew there was a gap. The
lessons I’ve learned through BWU have helped
fill that in. I am the message and I can make the
difference.” – Howie Morois, PCMC
“I personally continue to learn and practice the
tools we have been exposed to in this journey. I
am blown away on how simple the items are, but
sadly we don’t always practice to the fullest. I feel
that this journey will make me a better leader and,
more importantly, a better person.”
– Vince Jones, FleetwoodGoldcoWyard
Learning the Barry-Wehmiller Way
In each learning opportunity, a key question we ask is:
“How does this make you feel?”
“It is the first time anyone
ever asked me what I thought!
It gives me a sense of hope.”
– Larry Pierquet
43-year PCMC UAW Assembler
Recognizing Milestones on the Journey
 In a people-centric culture, L3 implementation
cares about how it makes people feel with equal
importance to targeted results.
 Without timely and proportionate recognition, the
full potential of Lean tools will be sub-optimized
and unsustainable.
 Continuous improvement is a natural byproduct
of engaged people who understand their value to
the organization.
Guiding Principles of Leadership SSR
“I come in every day and
try to be the person that
they ‘think’ I am.”
– Richard Pike, HayssenSandiacre
 After winning the GPL SSR
award, Ruth Gumnitzky of
MarquipWardUnited drove
the car to the cemetery to
show her mother, who had
passed away.
Guiding Principles of Leadership SSR
 Wayne and Jenni
Zillmer of
MarquipWardUnited
were each selected for
GPL SSR recognition
and were surprised by
the attendance at the
event by their children
and pastor.
Are You Ready?
 I hear senior-level leaders tell me, “My people
are not ready for this change.”
 The truth is, your people are starving for this
change! But many of our leaders are not
ready to lead this change.
 The challenge we face in America and in most
other countries is that we don’t teach
inspirational leadership. We teach
management, and we get bosses, managers
and supervisors. We need true leaders!
Reflections on Leadership
Reflections on 40 Years of ‘Management’
 Following the Industrial Revolution, America
enjoyed global growth and prosperity for
decades as a result of our industrial engine.
 Companies grew to be global providers.
 Unions developed to “protect” the workforce
from management greed.
 Then, in the last 50 years, the world became
more progressively “flat.”
Reflections on 40 Years of ‘Management’
 As our markets began to open up to global
competition, management began to embrace
new processes, while seeking new countries
where labor costs were dramatically lower.
 We first went to non-union plants in Arkansas,
then Mexico, Brazil and Eastern Europe, and
now China.
Reflections on 40 Years of ‘Management’
 We could get away with “management” with our
initial competitive advantage, but as competition
continued to increase, we defaulted to seeking
the lowest labor costs.
 Unfortunately, from my perspective, we never
learned inspirational leadership that would
have enabled us to avoid this pitfall by allowing
our people to fully share their gifts.
We need to move from management to
“inspiration.”
Our Message
Our Message
 People – True leadership begins with a
focus on people and results in fulfillment.
 Purpose – Unwavering commitment to an
inspiring vision
 Performance – Our achievement of
responsible performance is fundamental to
our ability to be leaders within sustainable
businesses.
Our Message
You, as leaders, have all the power
within you to make this a better world…
one job at a time!
 To inspire people toward a compelling vision
 To develop them personally & professionally
 To recognize them for their outstanding
achievements
“The Wizard of Oz”
We Believe in
People, Purpose, Performance
Bob Chapman
Chairman and CEO