The Gund Company is a third-generation family business.
Our roots in the electrical industry run back five generations with Bussmann Manufacturing Company’s founding by Al Bussmann, Sr., the great-grandfather of our President, Stephen Gund.
The Gund Company was established in 1951 by Ed Gund, with Paul Gund joining in 1963. Al Bussmann Sr. had counseled young Paul Gund to study chemical engineering to understand materials technology’s future. The business started as a manufacturer’s representative organization. Ed and Paul listened to customers’ needs requesting better service and faster delivery. The Gund Company moved into material distribution with a stocking facility closer to our Midwest customer base.
Over the past 70 years, The Gund Company has grown into one of the largest manufacturers and fabricators of composite, thermoplastic, and elastomeric materials. The Gund Company now has 12 manufacturing locations in the five countries. Our application engineering focus continues to be a strength as we take our materials and fabrication expertise into more markets.
Although The Gund Company has experienced significant growth in recent years, the Gund family’s management philosophy of “Satisfy, the Customer!” has not changed. We will satisfy our customers completely with a sense of urgency to demonstrate our appreciation for our relationship.
The Gund Company bases our business philosophy on providing value to the customer.
To better define what constitutes value to the customer, The Gund Company uses the formula below to guide our daily actions.
While the Value formula cannot produce a specific, meaningful number, it shows us the mathematical relationship between Value and its critical components.
- As Quality improves, Value increases.
- As Customer Service improves, Value increases.
- As Cost decreases, Value increases.
- As Cycle Time decreases, Value increases.
- Trust in our Character and Competence is a multiplier increasing Value received by the customer.
* The Value Equation was created by Roland Boreham, former CEO of Baldor Electric. The Gund Company added the Trust factor to this equation to account for various subjective factors that impact the customer’s perception of Value. Trust concepts are more fully explained in Stephen M.R. Covey’s book, The Speed of Trust.
By defining value, we can focus on delivering value. We survey our customers to rate our quality, service, cost relative to the market, and cycle time.
We survey, measure, track, and record. We focus on continuous improvement on these metrics to deliver increasing value over the long term.
If you would like to partner with a company focused on value, please request a formal presentation at your facility.