Fritz Straub sets himself apart from the mainstream global economy. A mainstream whose sole purpose, he feels, is to maximise profits and to satisfy shareholders with fast gains and large bonuses. For Fritz Straub this is a grotesque developmental mistake. Acknowledged by a wide range of experience, Straub argues that quality is often compromised when a company’s main focus is based on maximizing profits for the sake of its shareholders. Money that is withdrawn from a company for these purposes, is often required elsewhere for vital research and development programs. And, it is this type of development which pushes the bounds of innovation to form the highest levels of quality. The owner of Deutsche Werkstätten captures the matter by saying:
“If all I want is to maximize profits, then I need to make cuts and making cuts will automatically affect the quality of our work. At this point, I can no longer honestly say that I am working in the interest of my client; I am in fact deceiving them. And that is something I refuse to entertain.”
Deutsche Werkstätten work and operate differently. The emphasis is entirely on the client and to deliver the excellence they expect. Should a contract experience difficulty for any particular reason, Deutsche Werktätten looks for solutions within its own organization rather than laying the blame elsewhere. In fact, it is this philosophy that has constantly driven the company forward and helped forge many lasting relationships with clients from all over the world. The first project with Deutsche Werkstätten is very rarely a client’s last.
Of course, it has not been easy to convince the banks of this unique business philosophy; after all, a company that attaches more importance to quality than profit does not necessarily provide a particularly attractive prospect to a financial institute. However, the results since 1992 have been unequivocal, proving that this philosophy is indeed the right way forward. They are also proof that Deutsche Werkstätten have been wise to distance themselves from traditional profit-oriented investors, a topic which Fritz Straub is particularly passionate about.
“It is worth remembering that a good reputation takes a long time to build but can be destroyed all too quickly by making a wrong decision. Our core principles have helped us grow over the past thirty years and only by retaining them will we continue to grow into the future.”
"It is worth remembering that a good reputation takes a long time to build but can be destroyed all too quickly by making a wrong decision."