The Plaque in the Gore Foyer readsThe Plaque in the Gore Foyer reads

““Of all things precious to Of all things precious to mankind, Freedom to mankind, Freedom to

Dream Dream

is the Ultimate Value.”is the Ultimate Value.”By Bill and Vieve GoreBy Bill and Vieve Gore

Presentation by Gaylen K. Bunker

““A man is known by the company he A man is known by the company he . .

Ambrose Bierce, Forbes Magazine, Ambrose Bierce, Forbes Magazine,

Jan 9Jan 9thth Issue 2006 Issue 2006

organizes organizes ””

Let’s look at Bill & Vieve GoreLet’s look at Bill & Vieve Gore

TimelineTimeline

19121912 – Wilbert L. Gore was born in – Wilbert L. Gore was born in Meridian, Idaho, near Boise. He Meridian, Idaho, near Boise. He grew up in Salt Lake City on 10grew up in Salt Lake City on 10thth East and Emerson Avenue, a few East and Emerson Avenue, a few blocks from Westminster College. blocks from Westminster College.

19141914 - Genevieve "Vieve" W. Gore - Genevieve "Vieve" W. Gore was born in Salt Lake City, she was born in Salt Lake City, she spent her childhood on a cattle spent her childhood on a cattle ranch in Wyoming.ranch in Wyoming.

TimelineTimeline

Vintage CarVintage Car

TimelineTimeline

19351935 - Vieve married Bill Gore - Vieve married Bill Gore beginning one of the great love beginning one of the great love affairs and partnerships of all time. affairs and partnerships of all time. They eventually had five children.They eventually had five children.

19371937 – DuPont obtained a patent for – DuPont obtained a patent for polytetrafluoroethylene or PTFE. polytetrafluoroethylene or PTFE.

19401940 – Bill began working for DuPont. – Bill began working for DuPont.

TimelineTimeline

1945 – 19571945 – 1957 Bill worked on a Bill worked on a problem solving task force at DuPont problem solving task force at DuPont to find applications for PTFE. to find applications for PTFE.

““The task force was exciting, The task force was exciting, challenging, and loads of fun. challenging, and loads of fun. Besides, we worked like Trojans. I Besides, we worked like Trojans. I began to wonder began to wonder why entire why entire companies couldn’t be run the companies couldn’t be run the same waysame way.” Bill Gore.” Bill Gore

TimelineTimeline

19571957 - Bob Gore, a sophomore at the - Bob Gore, a sophomore at the University of Delaware, suggests the University of Delaware, suggests the use of PTFE tape to insulate wire. use of PTFE tape to insulate wire. Tests by Bill Gore show that the tape Tests by Bill Gore show that the tape offers significant advantages over offers significant advantages over earlier insulation methods, but earlier insulation methods, but DuPont fabricated PTFE into DuPont fabricated PTFE into “Teflon,” shuts down the task-force.“Teflon,” shuts down the task-force.

TimelineTimeline

19581958 - On Jan. 1, Bill (45) left DuPont and - On Jan. 1, Bill (45) left DuPont and with his wife Vieve began their with his wife Vieve began their enterprise in the basement of their enterprise in the basement of their home. home.

““If we mortgaged our house and took If we mortgaged our house and took $4,000 from savings, we could make a $4,000 from savings, we could make a go of it for two years. From the very go of it for two years. From the very beginning we were using the beginning we were using the principles of the latticeprinciples of the lattice. After all, . After all, there was just Vieve and me, and we there was just Vieve and me, and we had been using them for years.”had been using them for years.”

TimelineTimeline

19601960 - “We came very close to calling - “We came very close to calling it quits, but help was on the way.”it quits, but help was on the way.”

The company received its first major The company received its first major order: 7½ miles of insulated ribbon order: 7½ miles of insulated ribbon cable worth $100,000. “That order cable worth $100,000. “That order put us over the hump and we took put us over the hump and we took off from there.” Bill said. off from there.” Bill said.

Mission StatementMission Statement“Money is essential,” Bill Gore said. “Without it, you don’t have an enterprise.” Someone said this seemed incompatible with Gore’s rarified ideas about human relationships. Bill replied: “That’s because there’s something wrong with your education, sir. Actually, making money is a creative activity. It means people are applauding you for making a good contribution. In fact, it gives us the freedom to be what we are.” The Gore mission “Have fun, make money.”

TimelineTimeline

1963 – Bob completed a PhD in 1963 – Bob completed a PhD in chemical engineering and it was chemical engineering and it was clear the wire and cable business clear the wire and cable business had taken hold.had taken hold.

1960s – Ginger Gore was a student at 1960s – Ginger Gore was a student at Westminster College where she met Westminster College where she met her husband John Giovaliher husband John Giovali

TimelineTimeline

19651965 – One summer day Bill was strolling – One summer day Bill was strolling through his plant when suddenly he through his plant when suddenly he realized he didn’t know everyone’s name. realized he didn’t know everyone’s name.

The company had grown from an The company had grown from an interactive group to almost 200 interactive group to almost 200 employees. employees.

The rules had changed---big organizations The rules had changed---big organizations required hierarchies and management. required hierarchies and management. So Bill changed the rules: So Bill changed the rules:

No location over 200 people.No location over 200 people.

TimelineTimeline

19691969 – Astronauts Edwin Aldrin, Jr. – Astronauts Edwin Aldrin, Jr. and Neil Armstrong installed and Neil Armstrong installed seismographic equipment connected seismographic equipment connected to the moon lander with small, light-to the moon lander with small, light-weight, high-temperature cable weight, high-temperature cable manufactured by Gore. manufactured by Gore.

The Gore-NASA relationship began The Gore-NASA relationship began with the use of Gore cables in with the use of Gore cables in NASA's ground control equipment.NASA's ground control equipment.

TimelineTimeline

19691969 - Bob Gore wanted to stretch PTFE - Bob Gore wanted to stretch PTFE and introduce air into the molecular and introduce air into the molecular structure, but everything he did failed. structure, but everything he did failed.

Finally, in frustration he grabbed a PTFE Finally, in frustration he grabbed a PTFE rod from the oven, in his asbestos rod from the oven, in his asbestos gloves, and yanked it apart. It stretched gloves, and yanked it apart. It stretched nicely. nicely.

Word spread rapidly the Bob had Word spread rapidly the Bob had discovered a Miracle Product, GORE-discovered a Miracle Product, GORE-TEX®TEX®

TimelineTimeline

19751975 - Gore makes its first sale of - Gore makes its first sale of vascular grafts to a surgeon in vascular grafts to a surgeon in Virginia.Virginia.

19761976 - Gore Microwave Coaxial - Gore Microwave Coaxial Assemblies (GMCAs) are introduced Assemblies (GMCAs) are introduced for the space, military and test for the space, military and test markets.markets.

TimelineTimeline

19761976 - Gore receives the first - Gore receives the first commercial order of GORE-TEX® commercial order of GORE-TEX® fabric, the first waterproof, fabric, the first waterproof, breathable fabric. Early Winters is breathable fabric. Early Winters is the first customer. The 1977 Early the first customer. The 1977 Early Winters catalog advertises its GORE-Winters catalog advertises its GORE-TEX® rainwear as "possibly the TEX® rainwear as "possibly the most versatile piece of clothing most versatile piece of clothing you'll every wear."you'll every wear."

ProductsProductsGORE-TEX® GORE-TEX® GORE-TEX® membrane filter GORE-TEX® membrane filter

bags bags GORE-TEX® Vascular Grafts GORE-TEX® Vascular Grafts INTERING Vascular Grafts INTERING Vascular Grafts PROPATEN Vascular Grafts PROPATEN Vascular Grafts WINDSTOPPER® WINDSTOPPER® GLIDE® floss GLIDE® floss EYE-OPENER® EYE-OPENER® CLEANSTREAM® CLEANSTREAM® ONE-UP® pump diaphragm ONE-UP® pump diaphragm ELIXIR® guitar stringsELIXIR® guitar stringsGORE-TEX® PACLITE GORE-TEX® PACLITE

GORE-TEX® Coastal fabric GORE-TEX® Coastal fabric WINDSTOPPER® WINDSTOPPER®

SUPPRESCENT® fabric SUPPRESCENT® fabric GORE-TEX® XCR fabric GORE-TEX® XCR fabric WINDSTOPPER® N2S WINDSTOPPER® N2S AIRVANTAGE® Adjustable AIRVANTAGE® Adjustable

Insulation fabric Insulation fabric REMEDIA® catalytic filter REMEDIA® catalytic filter

system system STA-PURE® peristaltic pump STA-PURE® peristaltic pump

tube tube GORE-TEX® antistatic GORE-TEX® antistatic

workwear workwear VIABAHN® Endoprosthesis VIABAHN® Endoprosthesis EXCLUDER® Bifurcated EXCLUDER® Bifurcated

EndoprosthesisEndoprosthesis

TimelineTimeline20002000 - Chuck Carroll becomes president - Chuck Carroll becomes president

and CEO of Gore. Bob Gore remains and CEO of Gore. Bob Gore remains chairman of the board of directorschairman of the board of directors

““Our Our associatesassociates are what differentiates are what differentiates Gore as an enterprise and fuels our Gore as an enterprise and fuels our growth. Their knowledge, expertise, growth. Their knowledge, expertise, talents, creativity and hard work are talents, creativity and hard work are what lead to unique, valuable and what lead to unique, valuable and profitable products. It is for this reason profitable products. It is for this reason that attracting, growing, energizing that attracting, growing, energizing and retaining the best talent is critical and retaining the best talent is critical to our success.” Chuck Carrollto our success.” Chuck Carroll

W.L.Gore and Associates Inc.W.L.Gore and Associates Inc. Forbes top 200 best private Forbes top 200 best private

companiescompanies Worldwide sales of $1.84 Billion.Worldwide sales of $1.84 Billion. Bill and Vieve in Business Hall of Bill and Vieve in Business Hall of

FameFame 2004 Gore is “America’s Most 2004 Gore is “America’s Most

Innovative Company” (Fast Innovative Company” (Fast Company Magazine)Company Magazine)

2nd in “100 best companies to 2nd in “100 best companies to work for in America”work for in America”

W.L.Gore and Associates W.L.Gore and Associates Inc.Inc.

7,000 associates in over 40 locations worldwide:7,000 associates in over 40 locations worldwide:Argentina, Argentina, Australia, Australia, Austria, Austria, Brazil, Brazil, China, China, Finland, Finland, France, France, Germany,Germany,

East Coast East Coast (17)(17)

Greece, Greece, Hong Kong, Hong Kong, India, India, Italy, Italy, Japan, Japan, Korea, Korea, Malaysia, Malaysia, Netherlands,Netherlands,

United United States.States.Arizona Arizona

New New Zealand, Zealand, Poland, Poland, Russia, Russia, Scotland, Scotland, Singapore, Singapore, Spain, Spain, Sweden, Sweden, Taiwan, Taiwan,

CaliforniaCalifornia

W.L.Gore and Associates W.L.Gore and Associates Inc.Inc.

Proprietary technologies with the Proprietary technologies with the versatile polymer versatile polymer polytetrafluoroethylene (PTFE) or polytetrafluoroethylene (PTFE) or “Teflon” have resulted in numerous “Teflon” have resulted in numerous productsproducts

electronic signal transmission; fabric electronic signal transmission; fabric laminates; medical implants; as well as laminates; medical implants; as well as membrane, filtration, sealant, and membrane, filtration, sealant, and fibers technologies for diverse fibers technologies for diverse industries.industries.

Imagine a Place…Imagine a Place…

No bossesNo bosses

No job titlesNo job titles

No “employees”No “employees”

No organizational chartNo organizational chart

Communication is directCommunication is direct

Arguments are heatedArguments are heated

““Making Mistakes” is encouragedMaking Mistakes” is encouraged

Everyone thrives on chaos!Everyone thrives on chaos!

Four Guiding Principles:Four Guiding Principles:

FairnessFairness to each other and everyone with whom we come in to each other and everyone with whom we come in

contactcontact

FreedomFreedom to encourage, help, and allow other associates to to encourage, help, and allow other associates to

grow in knowledge, skills, and scope of responsibilitygrow in knowledge, skills, and scope of responsibility

CommitmentCommitment – – make and keepmake and keep

ConsultationConsultation with other associates before undertaking actions that with other associates before undertaking actions that

could impact the reputation of the company. could impact the reputation of the company. (Waterline)(Waterline)

““Words are ImportantWords are Important””

SponsorsSponsors not Bosses not Bosses

LeadersLeaders not Managers not Managers

Personal CommitmentsPersonal Commitments not Job not Job TitlesTitles

GuidelinesGuidelines not Rules not Rules

InvestmentsInvestments not Expenses not Expenses

AssociatesAssociates not Employees not Employees

““Leadership Defined by Leadership Defined by FollowershipFollowership””

Teams organize around opportunities Teams organize around opportunities and leaders emergeand leaders emerge

Leadership is not a “position” but an Leadership is not a “position” but an activityactivity

Leadership is reciprocal and fluidLeadership is reciprocal and fluid

Associates manage themselvesAssociates manage themselves

““Good judgment comes from Good judgment comes from experience…experience…

Experience comes from bad Experience comes from bad judgment”judgment”

Risk taking is encouragedRisk taking is encouragedAt Gore associates are safe to make At Gore associates are safe to make

mistakesmistakesThe only bad thing is doing nothing at all!!The only bad thing is doing nothing at all!!

““The things we learn to do we learn by The things we learn to do we learn by doing” (Aristotle)doing” (Aristotle)

Bill Gore’s “Bill Gore’s “Yes YesYes Yes” Principle” Principle

1.1. If we succeed, will we If we succeed, will we celebrate?celebrate?

2.2. If we fail, can we stand it?If we fail, can we stand it?

““Seize the MomentSeize the Moment””

Planning is important BUT Planning is important BUT some things are better left to some things are better left to

chance…chance…

““Small is beautifulSmall is beautiful””

No more than 200 associates per No more than 200 associates per plantplant

First name basis with everyone in First name basis with everyone in plant plant

Individual effectiveness over Individual effectiveness over corporate efficiency corporate efficiency

Team in action vs. crowd in motionTeam in action vs. crowd in motion

““Ordinary people doing Ordinary people doing extraordinary thingsextraordinary things””

Unleash full human potentialUnleash full human potentialGreatness exists in everyone, not Greatness exists in everyone, not

just a fewjust a fewSponsors help chart course for Sponsors help chart course for

“sponsees”“sponsees”Trust associates more than Trust associates more than

outside expertsoutside experts

““If all we do is agree, the If all we do is agree, the corporation will make more corporation will make more money by firing one of us”money by firing one of us”

Argue passionately because you careArgue passionately because you care

Only be offended if someone does not Only be offended if someone does not speak upspeak up

Learn to deliver direct messages Learn to deliver direct messages constructivelyconstructively

““How lucky we are!”How lucky we are!”

Good fortune comes with a Good fortune comes with a responsibility to give backresponsibility to give backBill and Vieve Gore spread Bill and Vieve Gore spread

freedom around the world through freedom around the world through the creation of new and the creation of new and

meaningful workmeaningful workPhilanthropy brings much greater Philanthropy brings much greater

rewards than materialismrewards than materialismGreed is toxic… always stay Greed is toxic… always stay

humble!!humble!!

Westminster MBA WayWestminster MBA Way

FairnessFairness to each other and everyone with whom we to each other and everyone with whom we

come in contactcome in contact

CommitmentCommitment – – make and keepmake and keep

LeadershipLeadershipis not a “position” but an activity. Dream and is not a “position” but an activity. Dream and

make it happen.make it happen.

CollaborateCollaborateGet to know everyone’s name and work Get to know everyone’s name and work

together. Encourage and help other students.together. Encourage and help other students.

……and remember 2…and remember 2…

Maik lotts uf misteaks!!!Maik lotts uf misteaks!!!

Have fun and Learn a tonHave fun and Learn a ton

““Of all things precious Of all things precious to mankind, Freedom to mankind, Freedom

to Dream to Dream

is the Ultimate Value.”is the Ultimate Value.”Bill and Vieve GoreBill and Vieve Gore

Plaque on the Gore BuildingPlaque on the Gore Building

Bibliography and References available upon request