Minnesota Exports: - Minnesota Precision Manufacturing Association

as a whole with those of the firm. In Oliver Sheldon’s view, asexpressed in his preamble to his 1923 essay, A Philosophy ofIndustrial Management, a company would not succeed over thelong term without adhering to this basic concept of service tothe broader community.Industry exists to provide the commodities andservices which are necessary for the good life of thecommunity, in whatever volume they are required.These commodities and services must be furnishedat the lowest prices compatible with an adequatestandard of quality, and distributed in such a way asdirectly or indirectly to promote the highest ends of thecommunity. Industrial management, in a broad sense,is the function, practiced by whatever persons or classes,responsible for the direction of industry to the aboveend. It must, therefore be governed by certain principlesinherent in the motive of service to the community.Such principles are—firstly, that the policies, conditions,and methods of industry shall conduce communalwellbeing. It is therefore part of the task of managementto value such policies, conditions, and methods, by anethical measure. 11The upcoming issues will reflect a 10-part series of interviewswith leaders from Minnesota’s manufacturing heritage, suchas Ken Wilson, Rich Pogue, Red Heitkamp, Andy Wells, andKen Schaufelberger, among others. These interviews will covertopics essential to developing and running a strong company,such as organization, marketing, technology and innovation,diversification, and succession planning. The first installmentin our series will introduce the topic, Organization. We beginthis journey with great anticipation.To the leaders of today and tomorrow—we salute you.B KyleContact the MPMA office for the complete bibliography.Manufacturing ImpactManufacturing industries paid $16.4 billion inwages in 2010. The average annual wage was $56,328,or 20 percent higher than the average wage for allindustries ($46,984).Manufacturing is the third largest industry in thestate with 13 percent of all jobs (over 292,000).Each manufacturing job supports another 1.9jobs elsewhere in the economy through supplierpurchases and employee spending. In total,manufacturing accounts for nearly 850,000 jobs or33 percent of all jobs in Minnesota.Across the state, manufacturing accounts for between8 and 34 percent of total employment, dependingupon the region.Wages in manufacturing account for 16 percent ofall wages paid in Minnesota, representing the largesttotal payroll of any business sector in 2012.Computer and electronic product manufacturershave the largest share of employment in Minnesota(16 percent), followed by food manufacturing (15percent) and fabricated metal products (13 percent).Manufacturing contributes $37 billion to the stateeconomy and represents 15 percent of Minnesota’sgross domestic product.About 40 percent of Minnesota's Fortune 500companies in 2012 operate in manufacturing: 3M,Medtronic, General Mills, Land O'Lakes, Mosaic,Hormel Foods, Ecolab, and St. Jude Medical.Manufacturing exports brought $18.4 billion intothe Minnesota economy in 2011.Canada is Minnesota's top manufactured exportmarket at $5.0 billion in sales in 2011, followed byChina and Mexico.Source: Minnesota Trade Office 12Thank you to donors who made this book possible:Agrimson Tool Company, Inc.American Engineering TestingAmerican Machine &Gundrillling Co., Inc.Anderson Automatics, Inc.Benny Machine CompanyBrian RobinsonCarlson Advisors, LLPColumbia Precision Machine Corp.Concept Machine Tool Sales, Inc.Dakota ElectricDave FiedlerDeborah KalinaDynamic GroupEllison Machinery CompanyHaberman Machine, Inc.Hales Machine Tool, Inc.Hegman Machine Tool, Inc.Huot Manufacturing CompanyInternational Precision Machining, Inc.John HuotJosh RalphKurt Manufacturing Company Inc.CliftonLarsonAllen LLPLiesch Associates, IncLubrication Technologies, Inc.Lynn MolineMike ReuterMRG Tool and Die Corp.MultiSource Manufacturing LLCNesstech Concrete MoldsNTM, Inc.On Time Delivery Service, Inc.Production Engineering Corp.Productivity IncrmsRobert Carlson JRRod GramseScott TaylorSaint Paul Port AuthorityState of MinnesotaSuperior Tool & MachiningTed Roberts JrTim SwansonTom DaggettTooling Science, Inc.Toolkraft, Inc.Ultra MachiningUniversity National BankWells Fargo BankWilson Tool International, Inc.Wyoming Machine, Inc.Xcel energyYeager MachineLEADERSHIP INSIGHTS SERIES | INTRODUCTION