If you order your custom term paper from our custom writing service you will receive a perfectly written assignment on fdsaahgfz. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality fdsaahgfz paper right on time.
Out staff of freelance writers includes over 120 experts proficient in fdsaahgfz, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your fdsaahgfz paper at affordable prices!
Corporate Overview
W.L. Gore & Associates was founded in 158, when Bill and Vieve Gore set out to explore market opportunities for fluorocarbon polymers, especially polytetrafluoroethylene (PTFE). First developed by Bill Gore when he worked as a scientist for the Dupont Corporation, Gore couldnt get anyone at Dupont to invest in his new idea, so he bought the patent and went into business on his own. Within the first decade alone, W.L. Gore wire and cables landed on the moon; the company opened divisions in Scotland and Germany; and a venture partnership took root in Japan.
That same passion for innovation and challenge continues today. W.L. Gore has parlayed its unique technical capabilities into hundreds of diverse products. A sampling of a few of these products illustrates their breadth and impact. Theyve defined new standards for comfort and protection for workwear and activewear (Gore-Tex); advanced the science of regenerating tissues destroyed by disease or traumatic injuries; developed next-generation materials for printed circuit boards and fiber optics; and pioneered new methods to detect and control environmental pollution.
Today, W.L. Gore enterprises is comprised of more than 7,000 associates at over 45 locations around the world. Annual revenues top $1 billion. W.L. Gore is a privately held company ranking in the top 00 of the Forbes top 500 privately held companies for 17. Gore would rank in the Fortune 500 companies for 16 in terms of profits, market value, and equity value. The company is owned primarily by its associates and the Gore family.
Cheap custom writing service can write essays on fdsaahgfz
Non-Hierarchical Corporate Culture
How they work sets W.L. Gore apart from most other companies. Based on Bill Gores frustration with a large corporate bureaucracy, the W.L. Gore culture seeks to avoid taxing creativity with conventional hierarchy. The company encourages hands-on innovation, involving those closest to a project in decision-making. Teams organize around opportunities and leaders emerge based on the needs and priorities of a particular business unit. To avoid the traditional pyramid of bosses and managers, Bill created a flat lattice organizational structure in which there are no chains of command and no pre-determined channels of communication. Instead, employees communicate directly with each other and are accountable to fellow members of multi-disciplinary teams. The company bases its business philosophy on the belief that given the right environment, theres no limit to what people can accomplish.
The formula has worked. In 40 years of business, W.L. Gore & Associates has developed hundreds of unique products that reflect an underlying commitment to fluoropolymer technologies. The company is passionate about innovation and has built a unique work environment to support it based on a corporate culture that encourages creativity, initiative, and discovery. You wont find the trappings of a traditional corporate structure at Gore no rigid hierarchy, no bosses, and no predictable career ladder. Instead, youll find direct communication, a team oriented atmosphere, and one title - associate - thats shared by everyone. Its an unusual corporate culture that contributes directly to the business success by encouraging creativity and opportunity.
Gore associates operate according to four basic principles
fairness to each other and everyone with whom we come in contact;
freedom to encourage, help, and allow other associates to grow in knowledge, skill
and scope of responsibility;
the ability to make ones own commitments and keep them; and
consultation with other associates before undertaking actions that could impact
the reputation of the company by hitting it below the waterline.
The last principle is meant to protect the company from inappropriate risk. While employees are given wide latitude to pursue entrepreneurial opportunities, no one can initiate projects involving significant corporate financial commitments without thorough review and participation by qualified associates.
An individual starting at W.L. Gore is assigned three sponsors. A starting sponsor helps get the associate acquainted with W.L. Gore. An advocate sponsor makes sure the associate receives credit and recognition for his/her work and a compensation sponsor makes sure the associate is paid fairly. One person can fill all three sponsor roles. Compensation is determined by committees and relies heavily on evaluations by other associates as well as the compensation sponsor.
Employee Ownership Structure
The goal of Gores highly flexible and competitive program is to maximize freedom and fairness for each associate. The benefit plans consist of core benefits and flexible benefits. Core benefits are basic plans and services provided by Gore to all eligible associates. They include an Associate Stock Ownership Plan, vacation, holidays, profit sharing, sick pay, basic life insurance, travel accident insurance, and adoption aid.
The Associate Stock Ownership Plan (ASOP) is the most valuable financial benefit. Its purpose is to provide equity ownership, and through this ownership, to provide financial security for retirement. All associates have an opportunity to participate in the growth of the company by acquiring ownership in it. Every year W.L.Gore contributes up to 15% of pay to an account that purchases W.L. Gore stock for each participating associate. W.L. Gore contributes the same percentage of pay for each associate active in the plan. An associate is eligible for this benefit after one full year of employment and qualifies for full ownership of his/her accounts after five years of service, when they are fully vested. Valued quarterly, W.L. Gore stock is privately held and is not traded on public markets. The ASOP, although it does not own all of the W.L. Gore shares, does own a majority of them, with the remainder owned by the Gore family.
Associates also qualify for cash profit sharing distributions when corporate profit goals have been reached. Profit sharing distributions typically occur an average of twice a year. In addition, each pay period associates are provided with pre-tax benefits, called flex dollars, to use for the purchase of flexible benefits. These include medical plans, dental plans, long-term disability insurance, personal days, supplemental individual life insurance, family life insurance, and health care or dependent care spending accounts.
Unique Characteristics of Ownership Culture
W.L. Gore believes that given the right environment, theres no limit to what people can accomplish. That is where the W.L. Gore lattice system comes in to play. It gives the associates the opportunity to use their own judgment, select their own projects and directly access the resources they need to be successful. Another unique aspect of the lattice system is the companys insistence that no single operating division become larger than 00 people in order to preserve the intimacy and ease of communications among smaller work groups. As divisions grow, they are separated into constituent parts to preserve that culture.
Conclusion
The W.L. Gore culture is a model for contemporary organizations seeking growth by unleashing creativity and fostering teamwork in an entrepreneurial environment that seeks to provide maximum freedom and support for its associates.
There are several key components that make the W.L. Gore company succeed, both financially and as a top place to work. First, the channels of communications are very open, the lattice structure allowing all employees the freedom to meet and discuss projects, situations, concerns and share congratulations with everyone. Second, W.L. Gore believes that providing equity compensation to its employees establishes a sense of ownership and increased committment amongst its employees. The ASOP program at W.L. Gore is the majority owner of the company. Third, W.L. Gore works very hard at providing a comprehensive set of benefits and is continually looking for ways to improve upon what is currently available. Sometimes that just means re-evaluating what the employees want and need. Finally, making sure that the individual work groups do not get too large to be effective is a key element of right-sizing for the company culture. This way W.L. Gore maintains a sense of intimacy and ease of communications amongst its work groups.
Return to Top of Page
--------------------------------------------------------------------------------
Back to Table of Contents
Foundation for Enterprise Development and the authors and
Please note that this sample paper on fdsaahgfz is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on fdsaahgfz, we are here to assist you. Your cheap custom college paper on fdsaahgfz will be written from scratch, so you do not have to worry about its originality.
Order your authentic assignment and you will be amazed at how easy it is to complete a quality custom paper within the shortest time possible!
