Advanced Management Program
Nice Guys Can Finish First: Billionaire Jon Huntsman Shares Insights on Values, Integrity, Philanthropy, and Family

From serving in the Nixon White House to building a multi-billion-dollar chemical business, Jon M. Huntsman has spent his whole life not more than a few inches from an ethical dilemma. But through a combination of strong character and good luck, he's held true to his values. In his new book, Winners Never Cheat (Wharton School Publishing), he outlines some of the principles that have kept him true to his heart. During a session with Wharton's Advanced Management Program, he discussed his book and answered questions about his life and the core values that have guided his work. Below are excerpts of some of these questions and answers

Q: When you think about your most meaningful business partnerships, what aspects made them rewarding?

A: Most partnerships fail. There have been a few that have worked over time. The best one was with GE, when Jack Welch was chairman. The reason it worked was that we both had each other's interests in mind. In many partnerships we have been in, however, someone was trying to get out more than their 50 percent. All things considered, I'd rather have a partner with high integrity and not a lot of money. If the partner has a lot of money and no integrity, you are not going to get any of that money.

Q: What do you think has led to the decline in ethics and values in America?

A: America has never seen a time where greater emphasis was put on material goods and financial success. I've watched it change over the last 45 years. It seemed like it used to be that a handshake was more your bond and people were willing to work together. Now, it is all about money. We've gotten to the point where people will say that this race is so critical to win, so let's cut corners. That's part of it. The other part is that maybe we are not talking enough about things like we are today.

Q: When you are doing business in China, is it through owned or joint ventures? Do you expect Chinese partners to share your values and vision?

A: We have great Chinese partners. I was part of Dr. Kissinger's team to open relations with China. China for us has been like family. They respect family, elders, and entrepreneurs. For 30 years, we have been cultivating relationships. We know the customs, dynasties, language, and culture. We have three plants and are building a fourth. We have very fine partners and sit down and go over the rules up front. A lot of people have problems in China because they have the wrong partners. To rush right into the country and not take the time to understand their great strengths and enormous capacity is a huge American mistake.

Q: How have you dealt with the work and family life balance?

A: Perhaps the most important part of success is the balance between your family and your business. All of us have to decide what this balance should be. We are all from different backgrounds and have different feelings about family. In my case, it was very important for me to spend every Saturday with family. Even when I was making $320 per month, I spent $20 to hire a gardener so I could be with the children on Saturday. I often was gone during the week for business. I don't know how many times I've had to fly all night from London or Singapore to California to be at a kid's baseball game. It is going to cost a lot of money and you are going to be awfully tired, but it is really important if you are going to have family. Every one of my children went into business because they felt their father had enough time for them.

Q: Is there a common code of conduct in global business? I do business in India, and the religion and values are very different. How are these things reconciled?

A: I don't know that I can give you an answer. The only thing that you and I can do is to live our own values and be our own selves. You can't lose the great values of the Indian people. I'm a Mormon, and Mormons may seem strange to most of the world. People know I am a Mormon, and they respect me immensely if I live my religion. It has forced me to be strong in my faith. As a Hindu, you have to decide in your own heart how to conduct business and live your own life. Each of us as individuals has to live what we believe based on our religion, traditions, and customs. People will always respect you for that.

We have a huge plant in Malaysia where 100 percent of the employees are Muslim. They give me respect, and I give them respect. They honor my faith, and I honor theirs. When I go to the plant, we talk about our families — not about cutting costs. We talk about how the number-one concern should be family and the second focus is inside the plant. I say: If you want to do me a favor, go home and be a good mother or father. It doesn't matter what religion, they all want to be a good mother or father.

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