Kinross Gold Corporation runs the Fort Knox Gold Mine near Fairbanks, Alaska. The mine, located 26 miles North of Fairbanks is one of the best producing gold mines in Alaska. The company is run with four (4) core values. Those values are:
A. Putting People First
B. Outstanding Corporate Citizenship
C. High Performance Culture
D. Rigorous Financial Discipline
Each business and managerial decision is made, in view of these four core values. As we read this, the thought occurs “what are your core values?”
Does your firm have core values? If not, why not? Perhaps these are some core values that you may wish to consider.
A. Put people first. Seems like common sense– do what is best for the person, either the client or the employee. If you do this, you will see handsome dividends, even though it may cost more initially.
B. Outstanding Corporate Citizenship. Do you give back to the community? The food bank? The Homeless shelter? The Secret Santa program? The truth is that it makes no difference what program you give to, as a member of the community, you need to give back. If you live in the community, you need to share what you have been given with the community.
C. High Performance Culture. Establish high standards and hold everyone to them. Notice, we did not say impossible standards– high standards. Using core value A, Putting People First and holding high standards/high performance results in actions and changes that are not often discovered. Everyone likes a high performance culture– the expectations are higher, however, the rewards are also higher.
D. Rigorous Financial Discipline. Make sure that every decision made has a rigorous financial thread through it. If it does not make good financial sense, don’t do it. Ask the hard financial questions all the time– it does make a difference.
Kimross Gold Corporation is a very successful mining company. Your company can be just as successful, perhaps on a different scale, however, the principles are exactly the same. Think about it– if it works for a big company, rest assured that it will work for you as well.