HOLIDAY/WINTER 2020 FARRAGUT LIFE 31
his October, Soundings Trade Only
magazine recognized Correct Craft (in
a tie with Brunswick) as the most innovative
company in the marine industry at the IBEX
Industry Breakfast. The company was recognized
for its innovative technology, culture,
learning environment and M&A strategy.
Soundings Trade Only acknowledges
companies using innovation in different ways
to advance their businesses in choosing the
marine industry’s Most Innovative Company.
The magazine considered all types and sizes
of marine companies around the world. The
judging panel consisted of Soundings Trade
Only editors, staff members and outside
industry experts. They reviewed company
initiatives that include innovative materials,
new manufacturing processes, fresh
marketing approaches, workforce solutions,
supply chain, export programs and more.
Correct Craft President and CEO Bill Yeargin
stated, “Correct Craft is honored to receive
such a phenomenal award. All our Correct
Craft brands have been working hard at
developing cultures of innovation. Correct
Craft’s Watershed Innovation, our disruptive
innovation company, is making a better
tomorrow today by identifying, researching
and applying disruptive innovation
throughout our company.”
Yeargin added, “We believe increasing
computational power over the next ten years
will drive technological development beyond
what we can currently comprehend. We
want to prepare our company today for this
inevitable and disruptive future. We believe
our focus on innovation is positioning our
company to thrive in the years ahead and
help us carry out our mission of ‘Making
Life Better.’”
Correct Craft has a four-pronged approach to
innovation: technology, culture, learning and
mergers and acquisitions.
INNOVATIVE TECHNOLOGY
Watershed Innovation was formed by Correct
Craft for disruptive innovations. Ingenity, Correct
Craft’s electric drive company, has developed
the most advanced electric recreational boat
ever made. Osmosis, our company focused
on IoT, has created the marine industry’s
most advanced telematics system. Watershed
Innovation also acquired Merritt Precision
to bring new technologies to the industry by
implementing cutting edge milling, tooling
intelligence and robotics.
INNOVATIVE CULTURE
Correct Craft believes innovation is deeper
than technology and sees culture not only as
a key to innovation but one of its innovations.
Correct Craft articulates its culture with the
having an open environment for crazy ideas
that creates innovation, supporting marine
industry advocacy, going on global and local
service trips and many other avenues. Correct
Craft also recently announced a marine
industry culture summit for marine industry
executives and HR personnel to share our
learnings and learn from others. The summit
is being underwritten completely by Correct
Craft as a service to our industry.
INNOVATIVE LEARNING
Correct Craft University (CCU) was designed
for employee development and learning
through personal, professional and leadership
each brand through on-site classes, microlearning
videos, webinars and readings. The
Correct Craft team aspires to be learners.
INNOVATIVE MERGERS
AND ACQUISITIONS
Correct Craft has a unique and innovative
M&A focus that ensures sellers we will look
after their employees, brand and legacy.
While most acquisitions are made with an eye
toward a future sale, Correct Craft has no exit
strategy when acquiring companies. We want
to build on the legacy of the seller and invest
in the company for long-term future growth,
closed three acquisitions within the past year
and expects more acquisitions in the future.
Sellers can trust Correct Craft to take good
care of their company.
About Correct Craft: Celebrating 94 years of
excellence in the marine industry, Correct
Craft is a Florida-based company with
global operations. Focused on “Making Life
Better,” the Correct Craft family includes
Nautique, Centurion, Supreme, Bass Cat,
Yar-Craft, SeaArk, Parker and Bryant boat
companies, Pleasurecraft Marine Engine
Group, Watershed Innovation and Aktion
Parks. www.correctcraft.com.
Correct Craft
RECOGNIZED AS MOST INNOVATIVE MARINE COMPANY
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/www.correctcraft.com