Honeywell International Inc. “Many Businesses United by Common Bonds”

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You I Met Spencer chairman of the board and chief executive officer of Honeywell Honeywell is of course you know is a large diverse and very rapidly growing company From the company's beginning in 1885 until today.

We've seen our business steadily expand in sales in Profitability and employment and we expect this growth to continue This depends however on each of us doing our job well To work effectively we all have to have the same understanding of what the company is And what I'm going to talk about today in a few minutes is what we are What we stand for and how we manage our business First of all Honeywell is one company Important common bonds unite all our very diverse businesses into a single corporate entity These ties include a commonly held set of values or standards common technologies and a philosophy of doing business that we all share together Our values are incorporated into our business objectives and those objectives are written One of our business objectives in fact one of the most important is profitability Profitability is an ongoing long -term goal throughout the company We must have profits to assure the continued health and growth of the company and Towards this end Honeywell is committed to innovation Increased productivity and the very highest standards of excellence we can achieve in respect to our products and the services We offer our customers The second objective is a commitment to doing business in an ethical way We will be honest and straightforward with employees customers vendors and shareholders Most important we believe in doing what is right rather than what may seem to be expedient We will be sensitive to the ecology and we operate our business in a way that conserves natural resources Finally we value the individual we respect your dignity and your privacy We support your goals because we know you want professional growth and advancement to the greatest extent possible we believe in the maintenance of course of a safe and healthy place to work and We believe and it's very important that we keep you informed about the company and your relationship with the company Profitability is a key objective to assure Honeywell's long -term success and survival as a company Profitability also means job security for you as a Honeywell employee Honeywell's basic strategy to maintain profitability is to provide top quality products and services on an ongoing basis Honeywell takes several important steps to ensure product and service excellence over the long term The company structures its work environment and its pay and benefit programs to attract retain and encourage top quality people The company establishes an atmosphere that encourages technological and manufacturing innovations Technological advances and improved production methods enable Honeywell products to do a better job at lower cost These are important factors in keeping customers satisfied a Second common objective is ethical business dealings Honeywell is a highly ethical company the company believes in doing business honestly Honeywell believes in dealing with employees customers and shareholders in a fair straightforward way and Honeywell has a responsibility to the communities in which it operates and Is responsive to community needs Honeywell is also firmly committed to the value of each individual employee as A Honeywell employee you are entitled to be treated in a way that acknowledges your individual worth and dignity This includes providing within the limits of the company's capabilities opportunities for personal and professional growth It means Communicating with you about Honeywell in general and about your own relationship with the company in particular We've talked about values or standards which are incorporated into our business objectives and are an important common bond throughout the company Another important bond is common technology The Honeywell we stay in businesses we know about These are businesses that tend to be based on certain highly advanced technology Like integrated circuits for example ICs are a rapidly growing technology that pervade almost all of our product lines Confining our business to common technologies has a lot of advantages for example breakthroughs in one technology may result in improvements in a broad range of products Manufacturing improvements made in one factory may well be applied to improve manufacturing processes at other locations Also and most important we can economize on engineering and production Investments getting the advantages of investments in one part of the company to use in another Commitment to these common highly advanced technologies and to improving them broadening their application sharing their usefulness in Honeywell products Is a very important factor that unites us into one single company They are common to many different Honeywell products The company pools its resources around common technologies in several important ways Researchers working on related projects exchange relevant information This can speed the research process and reduce duplication of research efforts And the advances that apply to one product may apply to increase the efficiency or reduce the cost of other products, too Parts of the company responsible for manufacturing or assembling similar parts or equipment also share information Cost -saving manufacturing innovations spread quickly to all Honeywell locations where they can be applied These are a few examples of the reasons common highly advanced technologies are an important common bond at Honeywell Common values that are part of our business objectives and common technologies shared throughout Honeywell Those are the common bonds that make us a single company The same time however, we've got to recognize that Honeywell is made up of many different businesses These businesses are part of Honeywell because they share the same basic values and objectives and the same technologies What then makes them different? The basic reason for the difference is that we market our products to different customers and we mark market them in many different ways Honeywell technologies go into a broad range of products these products compete against a variety of competitors in different locations And they help solve very different kinds of customer problems Let's talk about competition for a minute Some of our businesses compete nationwide and worldwide against the giants of industry other businesses consider their competition to be small firms Headquartered in small cities and with factories in rural America and they may compete for a very narrow market segment The design production and marketing of each product line requires different skills different talents and different knowledge That's where individual businesses come in requiring differences in management style and differences in operating policies For example Each of us has a part to play in that growth and we each need to know how the company is managed So we can effectively do our part As I've described there are certain fundamental philosophies we share in common At the same time as I've also mentioned we're many different businesses These businesses make their own decisions about the things uniquely affecting them So it works out that the people who know most about the company as a whole Make the decisions in areas that affect the whole company and the people who know each business best That is the general manager and his management team Make decisions that affect that business In this way decisions made at every level take into account our common values and common business objectives such as profitability ethical business relationships and the value of the individual Whether the decisions are made at corporate headquarters or at the level of the individual business These management decisions will reflect Honeywell's basic identity as a strong unified corporation Certain decisions that affect the company as a whole are made at the corporate level Personnel decisions are made more effectively at the business level as well Your Honeywell business sets hiring employment and training policies and rules Your business determines your pay system and your business is also responsible for those parts of your benefit program Such as your medical plan where local variations have an impact on the shape this plan should take So at Honeywell business decisions consider commonly held objectives and values and are made by people Who know best the area the decision affects? We are indeed one company we manage our business that way and there are a lot of advantages in so doing To repeat we hold certain values and philosophies of doing business in common such things as profitability Ethical business relationships and the value of the individual We're also united throughout the company by common technology To market our products effectively.

However, we're organized into many many different businesses Decisions that affect Honeywell as a whole are made at the corporate level decisions that affect only your business are made at the business level That's been a very successful way to manage our company in the past And you're now going to hear more about it as we explain how our pay program is managed in the future

Identifier

F.2010-01-0120

Date Of Production

1980

Abstract

In this sponsored film by Goldsholl & Associates, Ed Spencer, Chairman of the Board and Chief Executive Officer of Honeywell, looks directly into the camera and speaks to the viewer. He explains the three primary business objectives of the company: the first, profitability, allows the company continuous production and growth. The second objective is ethical business practice, both with the consumers and the ecology. The third objective is to value the individual, creating a safe workplace and level of transparency through the company.The Goldsholls' typographic animations are used to outline and illustrate the business objectives of the company.

Run Time

0:11:13

Format

16mm

Extent

415 feet

Color

Sound

Optical

Reel/Tape Number

1/1

Has Been Digitized?

Yes

Language Of Materials

English

Element

Distribution Print

Genre