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Morningstar’s Guiding Principles of Quality
Our devotion to quality is a driving force that unites our employees around the world through a common goal. The improvements we make throughout our business are directly inspired by our mission to help investors reach their financial goals. These four core principles shape the Morningstar Quality Program and lead us toward new levels of quality.
Principle One: Our Clients are the Foundation of Quality
Morningstar’s quality vision begins with our clients because we define quality from their point of view. It is our job to listen to our clients’ needs and constantly raise the bar to exceed their expectations. Everything we do in the Morningstar Quality Program is based on client feedback. We gather this feedback in a variety of ways, including through our client-facing team members or more formal methods like net promoter score surveys and annual client forums held throughout the year.
Principle Two: Quality is a Journey
We believe that quality is not a one-time effort, but an investment in a culture of continuous improvement. For our Quality Program to have a real impact, we know it must touch every aspect of our company and it must evolve with our business needs. So we have established an environment where we can all openly discuss areas where quality needs to be improved. We embrace quality issues as opportunities to strengthen our offerings for our clients. Instead of simply reacting to challenges, we have created a system that proactively looks for areas to perfect. As we work to enhance our Quality Program, we learn from other organizations and industries that have experienced successful results from integrating Lean Six Sigma practices within their businesses.
Principle Three: Quality is in Our DNA, Globally
Quality is core to the way we work. It provides a common language for employees across the globe and acts as a uniting force that helps us always keep our clients’ needs in mind. We strongly believe that quality belongs to the people who own and manage our day-to-day processes—not just the Quality team. Our Quality Program is designed to be practical and easy to learn so our employees can quickly adopt it. It is integrated with our employee orientation and training processes.
Principle Four: Quality Must be Sustainable
In order to bring lasting changes, quality must be sustainable. At Morningstar, our pursuit of quality is not a fad or a trend. In order for process improvements to have tangible and significant effects, we believe that process owners must take responsibility and remain accountable for all improvements. We empower our employees with the tools and training to take ownership in the quality of their everyday work. Then we put technology and automation in place to support their process improvements on an ongoing basis. We believe that even improvements can reach greater levels of perfection. Our approach to quality instills practices to make sure that improved processes are repeatable, take root, and grow throughout the company.
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