David Farr is discussing the location of plants that make specialist compressors for refrigerators, in the US, Germany and Britain. "I could tell you where they are, but then I'd have to shoot you," jokes the chairman and chief executive of Emerson, the US engineering company.

The remark illustrates Emerson's fanaticism about controlling its proprietary technology, as well as the conservative management philosophy that lies at the heart of the 116-year-old maker of electric motors and power equipment, among other products. Its expertise at pursuing a limited number of goals - using a management approach honed over decades - serves as a model of execution for global manufacturers. "Our focus is investment, technology and having a global presence," says Mr Farr.