Sumitomo Chemical formulated fundamental business principles, missions, and values as its Business Philosophy based on Sumitomo’s Business Principles.
Sumitomo Chemical’s Business Philosophy is embodied in these three sentences above.
Such management principles as “placing prime importance on integrity and sound management” and “adapting to good times and bad times and not pursuing immoral business” were first seen in the “Rules Governing the Sumitomo family” enacted in 1882. Other business teachings that Sumitomo passed from one generation to the next include “giving back to the state and society” and “mutual prosperity, respect for the public good.”
Sumitomo Chemical took a fresh look at its fundamental business principles, mission and values, and committed them to writing.
The first states the Company’s fundamental ethos. This fundamental ethos encompasses not only the achievement of concrete goals such as economic profit, but also the more abstract vision of the ideal company we aim to be.
The second states our mission; the Company’s raison d’etre. This expresses our role in society, which is to provide society with useful things as a member of society. This gives meaning to our existence as a company.
The third states our values. This expresses our way of thinking in setting out to realize our mission and raison d’etre, and the drive and attitude with which we approach them.