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07/19/2005

Success in business is achieved through the determined efforts of motivated individuals working together.  All employees contribute to the creation of an optimistic, positive, confident work environment where there exists recognized mutual respect and pride in the company and its products.  Each employee will have the resources in terms of training, recognition, authority and rewards needed to take the initiative in leading the organization and accepting responsibility for its performance.  All employees will share in Vanguard's success.
 
Quality must be instilled throughout every aspect of the Vanguard environment.  Quality is a process that arises from the focused efforts of creative employees working to achieve clear objectives.  Integrity and honesty in interactions with customers, suppliers, co-workers and others is a requirement for long term success.  Neither the company nor any employee will tolerate any unethical or dishonest business activity by Vanguard or any Vanguard employee.
 
Commitment to improvement and increasing efficiency is essential for growth, both corporately and personally.  Individuals and organizations that fear change will ultimately fail.  We cannot improve what we do not measure.  Vanguard must establish clear, well understood objectives in order to achieve the efficiencies required for continued success.  Constant improvement is more than a goal; it is a way of life.