[October 28, 2018] Railroads are not dead and they’re not dying. While this seems to be the current thinking of logisticians, railways across the world are making a comeback from the days of deteriorating rail lines, outdated equipment, and dilapidated structures. Norfolk Southern Railway is one of those making headlines in modernization and efficiency.
Norfolk Southern is making innovative changes in how railroads do business by cutting costs, delivering product quicker and more efficiently, and by edging their way into what has been a traditional trucking market. This is being done because they are focusing on their core values and every employee understands it.
Here are the core values of Norfolk Southern Railway.1 Note how similar this list is with other large organizations because these make NSR a very successful company:
- Safety: We put safety first by taking care of the people around us and following the rules.
- Performance: We are performance driven and committed to providing quality customer service. We act on facts and are accountable for results.
- Integrity: We do the right thing. We are open, fair, honest, and straightforward.
- Respect: We believe in the importance of all of our stakeholders. We value the ideas and beliefs of co-workers.
- Innovation: We constantly seek new ideas and creative solutions to business challenges.
- Teamwork: We believe that working together always produces the best results.
The NS vision is to “Be the safest, most customer-focused, and successful transportation company in the world.” Given their core values list, this makes sense in a number of ways. It is a testament to their emphasis on safety that working on railroads in the U.S. is not listed in the top most dangerous jobs in America; as measured by fatal accidents [emphasis added].
NS is also known for their innovative and safety conscious leadership. If they keep this up, their growth and success will continue.
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Very good series. Thanks Gen. Satterfield.
With elections coming up in the United States it would be a great idea to read what the core values are of each of the two main political parties.
1. Here it is for the Republicans (official site): http://republicansusa.org/GOPCoreValues.pdf
2. I couldn’t find an official site for Democrats but here it is from the DailyKos: https://www.dailykos.com/stories/2016/11/13/1598585/-What-are-the-core-values-of-the-Democratic-Party
Dennis, I could not find the official list for the Democratic Party either that identified their core values. When I went to their official website, I got targeted by popups to donate money and couldn’t find a way around it. I find that irritating.
Thanks Dennis!
I’m not surprised by what you guys found (or didn’t find).
Gen. Satterfield, a very good article today. Others have suggested companies that have failed as a new series. I would suggest also doing a few on very old companies from the past, like the White Star Line (aka The Oceanic Steam Navigation Company).
https://en.wikipedia.org/wiki/White_Star_Line
.. or one of the British tea companies.
https://www.peets.com/learn/history-of-tea
Great idea.
Some similar companies:
Bank of New York-Mellon: Est 1784
Bowne: Est 1775
Caswell-Massey: Est 1752
Valuable set of core values for study. I especially like those that deal with railroads because they are the types of companies that are on the fringes that are slowing making a resurgence. That is due to great leadership.
Yep, more than most of us know.
I worked on the Santa Fe RR as a young man and never forgot the great experiences. You are correct on pointing out that SAFETY is their primary core value. Thanks.
Your series on ‘core values’ has been invaluable for my students. I have them read each as a one-page handout and tell me what they think is what makes a company with leadership so successful. The discussions are very entertaining.
Wilson below recommended a company that went bankrupt. I agree and would add that writing up the core values (if they had any listed) for any failed large company. Enron comes to mind but I’m sure there are plenty to chose from.
Good series on Core Values.
Yes, it is. I would recommend a large company that went bankrupt as your next one.
Yes, I do believe that the US railroads are making a comeback. You would think with such long distances especially in the western US that RRs would be more efficient carriers of bulk materials.
Another nice set of core values. Thanks. It allows me to contrast and compare these successful companies.
Good list, I agree. It wouldn’t hurt me to read more of these.
I’m a big fan of the core values series and would think they are among the most read blog posts on Gen. Satterfield’s website.
🙂