Philips 2007 Annual Report Download - page 67
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Philips Annual Report 2007 73
Focus resource allocation on mission-critical
initiatives
The successful launches of Arcitec, the Moisturizing
Shaving System and the FlexCare toothbrush are
proof-points of organizational emphasis on mission-
critical initiatives.
The initiative to develop business jointly with the trade
in the eld of domestic appliances is recognized by retail
partners as a positive change agent. This program is gaining
momentum and will be rolled out beyond Domestic
Appliances in 2008.
Ensure functional leadership to maximize cost
efciencies and speed
2007 saw the deployment of a sector-wide cost-reduction
initiative “Earn-to-Invest”, which is designed to free
up and redirect resources toward drivers of growth.
In R&D, for example, this resulted in over 100 local
initiatives to reduce costs (e.g. by moving prototype
testing to lower-cost locations) and increase speed
(e.g. by reducing rework required on models and moulds).
Further develop consumer-centric innovation
competence
DAP enhanced its innovative capability by leveraging
(online) external networks and knowledge more
intensely during the early phases of innovation
(e.g. via the YourEncore online experts network).
Posting the right technology questions in expert
communities outside Philips increases the chances
of getting better answers faster.
In June 2007, the Health & Wellness business organized
the Avent Innovation Wave, at which all DAP employees
worldwide were triggered to think as consumers for
Mother & Childcare products. The event gathered over
1,200 validated consumer insights and over 500 product
solutions, ensuring distinctive new propositions for the
Philips Avent portfolio as well as for expansion into new
value spaces.
Focus on talent by securing engagement
and internationalizing the talent pipeline
An Engagement Master Class has been introduced
for all senior managers, and employee engagement
data are used in leadership assessment/development
and promotions.
The Senseo coffee system from Philips and Sara Lee/DE offers
a winning combination of sensational-tasting coffee, cool design
and easy-to-use technology.
98 Risk management 112 Our leadership 116 Report of the Supervisory Board 126 Financial Statements