In the book Build to Last by Jim Collins and Jerry I. Porras, they emphasize the importance for visionary companies to "protect the core and stimulate progress" as a way for a company to establish itself as a great company. I have written about this more but I want to focus on that core.
Core principles are what drives a company and gives it a reason for its very existence. These are priciples that define a company and are its very foundation. Relating to Hydraulics & Pneumatics, our core principles are that we deliver the very best fluid power content possible to the most qualified audience available. This provides the most value to our advertising customers.
Strategies and tactics are different from core principles. They may be a means for achieving goals as related to the core principles but they are changeable. For, example, we may vary our coverage of mobile versus industrial hydraulics from year to year but this does not change our commitment to providing excellent content. We may vary the number of print vs. digital readers but we still strive to reach the very best audience.
The same reasoning is true for fluid power companies. If their core principle is to provide great products that add the most value for the right cost to their customers, then they have a foundation from which success will come. They may change their product mix, change their manufacturing infrastructure, or change their sales channels without changing that core principle.
If you haven't read the book yet, I recommend it as solid business advice for all companies and organizations. Even though it was written several years ago, the "principles" still apply.
