Jon M. Huntsman built a successful chemical company based on strong ethical principles. In his book, he discusses how maintaining integrity, keeping promises, choosing advisors wisely, and giving back to society allowed him to succeed financially without compromising his values. He argues these "playground values" of fairness, honesty and responsibility still apply in business today. Upholding high standards and surrounding oneself with people of character are keys to sustainable long-term success and fulfillment, according to Huntsman.

1. Some Impressionistic takes from the book
Jon M.Huntsman’s
“Winners Never Cheat”
by Ramakrishnan ( Ramki)
ramaddster@gmail.com

2. About the Author
Jon. M.Huntsman started with practically nothing, and built a
world-class business that carried him to Forbes’ list of America’s
wealthiest people. In this summary, Huntsman, Chairman & founder
of Huntsman Corp., the world’s largest privately held chemical
company, presents the principled lessons he has learned &
followed throughout his lifetime. He also explains how business can
return to the days when your word was your bond, a handshake
was sacred, and swarms of lawyers weren’t needed to back it up .
Huntsman built his career & fortune on ethical principles- from his
refusal of the Nixon administration's corrupt demands, to his lifelong
commitment to charity, to the way he approaches his biggest deals,
In this summary he describes how readers can learn to listen to
their moral compass, build teams, with the highest values, share
success, take responsibility & earn the rewards that only come with
giving back .
This summary also explains that you don’t live these principles just
to “ succeed’: you live them because they are right. In an age of
many business scandals, Huntsman’s life proves honesty is more
than right: It’s your biggest competitive advantage

3.  How the values you learned as
a child still apply to the
business world today.
 Why you don’t have to
compromise your values to
succeed financially
 What makes a real leader
 Why it is important to give
something back to society
What you will Learn

4. Current Challenges in Market/Business
Stock markets overdoses on greed
In the past two decades investor greed has
become obsessive & the CEO’s are forced to
meet greed driven expectation
Next quarter must be better than this quarter,
with no thought to the business cycle.
Outcome- based financial reporting becomes
the norm when flat performances are
penalized & honest reporting is of no value.
Cooked books created artificial wealth
Auditors looked the other way to avoid losing
a client
Corporate attorneys makes fortunes getting
people out the promises they made
Bottom line- Material success is now more
valuable than the means one used to obtain
the success.

5. Lessons from the Sandbox
 Young children growing up, whether rich or poor, are taught to play by the
rules.
 Be tough, Be competitive, give the game all you have – But do it fairly
 It is the value system that is learned in homes, sandboxes, playgrounds,
classrooms, Sunday schools & athletic fields.
 The values we learned as a child will make you successful in today’s
business & market place
 These values have not lost their legitimacy just because we are at work

6. It is not our affluence, or our plumbing or our
clogged freeways that grip the imagination of
others. Rather it is the value upon which our
system is built
By Sen. J. William Fulbright

7. Everyday Values of Business- Moral compass
 There is no such thing as a moral agnostic
 A amoral person is moral person who temporarily & creatively disconnects
his or her actions from his or her values.
 Each of us possesses a compass or conscience, programmed by parents,
teachers, coaches, clergy, grandparents, uncles, aunts, scoutmasters,
friends and peers
 Before you act, always stop & check your moral
compass
 No one is raised in a moral vacuum.
 Every mentally balanced human being basically
recognizes right from wrong
 Whether a person is brought up a Christian, Jew,
Buddhist, Muslim, Hindu, Unitarian, New age, a
free thinker or an atheist, he or she is taught from
toddler on that he or she shouldn’t lie & there are
consequences for doing so

8. Check your Moral compass
 You know what is right or wrong
 Be careful that we don’t ignore our inner
compass
 You can’t disconnect it, but you can ignore it
 Rationalization dims caution lights
 Arrogance blurs boundaries
 Win at any cost ? It does matter how you
play the game
 Desperation overrides good sense
 The ethical route is self-evident to a
reasonable person
 We are not always required by law to do
what right & proper
 Laws define courses we MUST legally
adhere or avoid
 Ethics are standards of conduct we ought to
follow

9. Because just as good morals, if they are to be
maintained, have need of the laws , if they are
observed , have need of good morals
By Machiavelli

10. Ethics Vs. Laws
 We are not always required by law to do what is right & proper
 Decency & generosity, for instance, carry no legal mandate.
 Pure ethics are optional.
 Laws define courses to which we must legally adhere or avoid.
 Ethics are standards of conduct that we ought to follow.
 The ingredients for long term success are
 Courage, Vision, Follow-through , Risk, opportunity, Sweat,
Sacrifice, skill, discipline, honesty – never vary
 Scammers & cheaters have never lasted for long, and their fall is fast,
painful & lasting .

11. Play by the Rules
 The rules we follow & the rules we ignore determine personal character
 Character is defined by your actions ( Integrity + Courage)
 Reputation is defined by how others perceive your actions
 Character is how you act when no one is watching
 Once you compromise your values by lowering yourself to someone
else’s standards, your reputation is damaged.
 “Everyone else is doing it “ did not work as kid, as a teenager, and does
not work as an adult.
 Adopt a “ No excuses” personality for your mistakes.
 It does not matter whether you win or lose, but how you played the
game Matters More.

12. Bribes & Payoffs
 Bribes have huge cost. They may produce
temporary advantages , but they carry an
enormous price tag.
 They cheapen the way business is done,
enrich only a few corrupt individuals, and
make a mockery of the rules of play.
 Competition is good
 Competition is an integral part of the
entrepreneurial spirit & the free market.
 Cheating & lying are not.
 If the immoral nature of cheating & lying
doesn’t particularly bother you, think
about this.
 They eventually lead to failure.
 Moral short-cuts always have a way of
catching up with you

13. Standards are Important
 Every family, home & school classroom has
its standards.
 Children observe their elders so they know
how to act .
 Employees watch supervisors.
 Citizens eye civic & political leaders
 If these leaders and role models set bad examples, those following them
follow suit.
 There is no moral short-cut in the game of business or life.
 There are 3 kinds of people in business & life
 The unsuccessful
 The temporarily unsuccessful
 Those who become & remain successful
 The difference is character

14. Set a good example
 Core Elements of Leadership: integrity, courage, vision, commitment,
empathy, humility, and confidence.
 One common value missing from most business leaders today is Humility
 Contrary to today’s marketplace, the outcome is not the long-term
measurement. The process is. Own it, take personal responsibility, avoid
the blame game.
 Over 80% of the workforce want to be led. However, they want to be led by
people who genuinely care about them.

15. Set a good example
 Leaders turn failures into new opportunities
 Leadership demands decisiveness and in order to be decisive, you need the facts.
 Many organizations are paralyzed by leaders who are afraid of bold, candid, and
talented subordinates.
 Surrounding yourself with “yes-men” forces you to be right 100% of the time.
 Be open to criticism. (Remember, humility is the one trait that is missing in today’s
leader
 “Good judgment comes from experience and experience comes from poor
judgment”
 “If you think education is expensive, try ignorance.”
In a Leadership role , set an example – Be a role model
 Leadership requires taking risks. If you have never
failed, then you have never risked much.
 Leaders are called to do things that have never been
done before, therefore risk of failing is part of the
territory.

16. A honest man speaks the truth, though it may
give offense
By William Hazlitt
“Let your “Yes” be “Yes” and your “No” be “No”
“

17. Keep your word
Keeping your word requires great resolve.
You are the captain of your character & reputation- Your
character & reputation must be grounded in honesty &
integrity
You will be remembered for promises kept & promises broken
Always keep your word , no matter what the consequences are

18. Choose your friends wisely
The Character of your friends
/advisors will become part of your
reputation
If you can’t do something,
surround yourself with some who
can.
Who you are associated with is
one of the most important
decisions you make in your
career. If will stick with you long
after you have separated yourself
from those people
Surround yourself with advisors who will say no when needed

19. Choose your friends wisely
Cultivate relationships with those who
are teachable
When we are young, we
unconsciously chose friends with
similar values- why would we stop
now that are adults
Surround yourself with people who
believe the team can achieve
success. When a team member no
longer believes in the team, you or
them should leave
Surround yourself with people who
cannot only read a map, but have the
courage & confidence to tell you that
you are on the wrong road.

20. Get Mad, Not even (The Past is the Past)
 Move on, put things behind you
 Anybody lost money in the stock
market, housing market etc.. The
quickest route to recovery is move on.
 Al Gore lost the Presidency, but won
the Nobel Prize.
 Richard Nixon held grudges, trusted no one, and paranoia cost him
White House.
 Self pity is a disease. It can incapacitate otherwise string, effective
people.
 Pay attention to that voice inside of you saying, “ life is short, move on “
 Grudges are physically, emotionally & mentally draining ( just plain
unhealthy)
Forget about revenge, move onwards & upwards

21. Graciousness is next to Godliness (Be nice to others)
 Be kind to others as a matter of habit
 Every day our eulogies are being written
 Remember there is no difference between family, friends & work when
it comes to being kind
 Thank you notes are treasured possessions.
 Anyone know a “ successful” person who does not know the joy of
being kind to others ?
Graciousness is an excellent habit to
cultivate & practice

22. Your Name is on the Door
 Emphasize in employee meetings that families comes first.
 Effective communication are essential
 Companies – Private or Public – must create a culture in which
employees come first & are treated royally. They always return the
favor.
 Business is much the same as families
 The wise CEO of a publicly traded company
will operate as if his or her last name is on
the company marquee.
 Workplace should be an extension of the
family – a place for decency, respect &
basic values are encouraged & examples of
proper moral behavior are the rule.

23. The Obligation to give back
 Along our way , we all receive help from others & have an opportunity
to take advantage of some lucky breaks.
 The only genuine way you can show appreciation for the help you’ve
received along the way is by sharing your good fortune with others
 Both Companies & Individuals are
under obligation to put back into the
community more than they take out.
 Don’t wait until you are Billionaire.
 Start giving something back right
now, even it is just you time.
 Nobody is a totally self-made man or
woman.

25. Take –away -1/2
 Most ethical dilemmas boil down to the color gray. We know right from
wrong, but we try to cruise in the gray.
 Truth- you leave the white, headed to the black, and are only in the gray
for the short duration of the trip !
 Now maintain your values in the business world as an adult, despite
society's mixed messages
 The same simple values- play fair, be tough, give it all you’ve got, don’t
cheat, share, tell the truth & keep your word- still apply today & for the
future.
 First dial in your moral compass. Second listen to it.
 We have moved from boxes of sand to buildings with desks, but how we
are measured is still the same. Honor & fairness.
 You don’t need to compromise your beliefs to make money. If you have
skill or talent, work hard & stick to your values, you will succeed and will
be happy.

26. Take –away -2/2
 Regardless of background, nationality, religion or other differences,
people of integrity universally recognize many values, such as honesty,
fairness & respect.
 Even when you feel desperate, try to rationalize, make excuses, blame
others or put blinders on, your conscience tells you if you’re doing
something wrong .
 Attempts to justify bad behavior & morals cover up weakness, lack of
courage & greed.
 What is legal is not necessarily right. Society can’t mandate decency or
virtue
 “Everyone” does not compromise on values to get ahead
 No one makes it alone, so you should give something back
 Your values are like an American Express card- Don’t leave home
without it.
 A promise is a promise – Keep up

27. Although business itself may well be amoral, its leadership is
dictated by moral decisions. It sometimes takes great
courage to follow the moral compass in the face of
marketplace pressures, but no challenge alters this fact:
Regardless of who is holding the compass, or how they are
holding it, or what time of day it happens to be, north is always
north and south is always south. Following one’s moral
compass is not for the faint of hear or the cold of feet.
Leaders worthy of the name understand & accept that they
are chosen every bit as much for their values & courage as for
their administrative skills, marketing savvy or visionary
outlook” by Jon Huntsman

28. Happy Reading, Learning &
Application
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