The Economics of Culture

Bill Yeargin joins us this month to share the lessons he’s learned along the way in running a successful Florida business and how corporate culture impacts the bottom line and the lives of employees. He is the President and CEO of Correct Craft, a manufacturer of utility and recreational power boats and engines, including the Ski Nautique boat. It also owns the Orlando Watersports Complex and similar venues. With more than 2,000 employees, the 98 year-old company is one of Florida’s largest manufacturers, with a 217,000 square-foot manufacturing plant located on the outskirts of Orlando. It has other manufacturing facilities across the U.S. and distributes to 70 countries.
“Having a good culture is not only the right thing to do, but can have a significant economic impact on your organization, too,” Mr. Yeargin told Club Officers in a recent conference call. “Many people see culture as an expense, but I present it as an investment. It's got a huge return.” Service, he said, is a big part of Correct Craft’s culture and he’s taken employees around the world to serve in local community projects.
Under his leadership, Correct Craft has developed a unique culture of “Making Life Better.” He’ll speak about two books he’s written that he has brought complimentary copies for each Club member: Making Life Better, which is about the history of Correct Craft, and Education of a CEO: Lessons for Leaders. The company has won all its industry’s major awards and was recognized as Florida’s “Manufacturer of the Year.” One publication recognized Correct Craft as the boating industry’s "Most Innovative Company" over multiple years.
Mr. Yeargin earned a Bachelor Degree in Accounting from Florida Atlantic University and an MBA from Nova Southeastern University. Nova also bestowed a Doctorate of Humane Letters for his "contribution to the lives of others and the betterment of humanity." He has also completed post-graduate studies at Harvard, Stanford, Wharton, Villanova, and MIT. Mr. Yeargin is a Certified Public Accountant, Certified Lean Six Sigma Black Belt, and is certified in both Myers Briggs Type Indicator (MBTI) and DISC. He currently serves on the board of the Florida Chamber of Commerce and the Florida Council of 100, and is Chair of the National Marine Manufacturers Association. He will be introduced by Club Trustee Karen Moore, Founder & CEO, Moore