
From its founding in 1954, The Wackenhut
Corporation has been characterized by two attributes: an absolute commitment
to the highest standards of integrity, quality and performance, and an entrepreneurial
corporate culture. The result is a flexible, responsive, market-driven organization
that pro-actively develops sustainable lines of services that the corporation
can support, manage and deliver effectively and profitably.
Now the corporation has entered a new
era defined by two phenomena. One is the vastly accelerated rate of change,
and consequent perplexity, driven by rapid advances in technology and the
advent of price-driven global competition. The other, a reaction to the
first, is the growth of outsourcing, or privatization of services by large,
complex organizations. Only organizations that can help their clients win
in this turbulent environment will thrive.
In this era of rapid change, blue-chip
companies looking for outsourcing partners put a premium on stability and
reliability. They put a high value on the quality and performance standards
of their partners, so they have the freedom to concentrate fully on their
own core business. And they prize partners who can help them minimize the
distraction of having to deal with multiple vendors to obtain related services.
The Wackenhut Corporation, having developed
all those attributes over the last four decades, is ideally positioned to
prosper in this new era of outsourcing and privatization.
As the corporation has grown in size and
expanded into new service areas, it has structured itself to avoid becoming
bureaucratic and reactionary. Its four main business units, the North American
Operations Group, Wackenhut Corrections, Staffing Services and the International
Operations Group, while synergistic, operate in an environment which allows
the pursuit of independent business goals. As the various units grow, they
are incorporated as separate subsidiary businesses, helping to preserve
the entrepreneurial spirit of the organization.
Nonetheless, they are all part of The
Wackenhut Corporation. The internal delineations are transparent to clients,
enabling them to select among a menu of interrelated services from a single
source, greatly simplifying their outsource management process.
On the government side, the trend toward
privatization is more price-driven compared to outsourcing in the private
sector, where the ability to more flexibly allocate resources is the prime
driver. However, the cost-justification of privatization is so compelling
that what started as isolated socio-political experiments not many years
ago is rapidly becoming a wholesale conversion of the way government provides
many services.
The responsibility of governments to provide,
and the demands of voters for, satisfactory service works to the advantage
of companies that compete on a value-added basis. On many of the government
contracts won by the corporation, it was not the low bidder. Again, a proven
reputation for excellent performance stands the corporation in good stead
in this new era.
This year, as in all years past and in
every year to come, The Wackenhut Corporation will prosper by adhering to
its belief that providing superior service and value is the surest path
to success for the corporation. |