At Crane, the concept of corporate citizenship—where companies take responsibility not only for profits but also for the impact of their activities on the many different stakeholders with which it interacts—is the foundation on which our company was built. Every leadership conference, every investor presentation and each new employee orientation session begins with a discussion of the ethics on which our Company was founded, including honesty and fairness in dealings with customers, employees and even competitors.
With strict adherence to the Crane Business System (CBS), Crane is a very process focused organization. CBS has been, and will continue to be, a critical driver of our consistent execution and long-term success. However, process does have its limits.
Research & Development activities require accountability and repeatable processes, but too much process focus can also stifle innovation. As our organization continues to mature, we are continuing to refine our approach to innovation and new product development. In this spirit, we recently introduced a new call to action for our associates: Think Big, Be Bold, Act Fast. CBS will always be a core component of who we are and how we operate, but we are encouraging our employees to take more calculated risks, think creatively, and quickly deliver new and innovative engineering-based solutions for our customers.