Philips 2010 Annual Report Download - page 11

1 Our company 1 - 1
Annual Report 2010 11
1Our company
Philips is a people-focused, market-driven company that is
organized around customers and markets. By
understanding trends in society and obtaining deep insight
into issues confronting people in their daily lives, we
ensure that people’s needs remain at the heart of
everything we do.
Our mission
We improve the quality of people’s lives through the
timely introduction of meaningful innovations
Innovation does not only mean “new technology”. It can
also mean an exciting application, a new business model or
a unique customer proposition brought about by an
innovative partnership. In other words, an innovation is
not the same as an invention. Technology remains very
important, but insight into the needs and aspirations of
consumers and customers is equally, if not more
important and must always be our starting point.
Our vision
In a world where complexity increasingly touches every
aspect of our daily lives, we will lead in bringing “sense and
simplicity” to people
Our corporate vision describes what we see as one of the
biggest challenges facing people today – and how we can
help them meet that challenge. We have identified the
difficulty of coping with complexity as a major challenge
for people in our time. One of the things that makes life
today so complex is the fact that technological progress
comes to us very often in a way that is too difficult to
experience. We believe that this situation can be changed,
and that we can help to make the benefits of our products
and solutions easier to access and more relevant to
people’s needs and aspirations.
Our domain
We operate in the health and well-being domain
We seek to improve the quality of people’s lives through
focusing on their health and well-being. Quite simply, we
want to help people live a healthy, fulfilled life.
By “health” we mean not only medical aspects of health,
but also keeping fit, having a healthy diet, and generally
living a healthy lifestyle. By “well-being” we mean a general
sense of fulfillment, feeling good and at ease. “Well-being”
also refers to the sense of comfort, safety and security
people feel in their environment – at home, at work, when
shopping or on the road. Our focus on health and well-
being automatically implies that we contribute to building
a sustainable society.
Our brand promise
We promise “sense and simplicity”
We differentiate ourselves through our brand promise
“sense and simplicity”. Our brand promise is comprised of
three pillars:
• We design our solutions around the needs of people.
• We apply advanced thinking and technology to deliver a
better solution.
• We ensure our solutions are easy to experience.
Our values
Our values, the four Ds, are like a compass - guiding us in
how we behave every day, and reminding us of the attitude
we should have towards our work, our customers and
our colleagues
Delight customers
We anticipate and exceed customer expectations
Deliver great results
We continually raise the bar
Develop people
We get the best from ourselves and each other
Depend on each other
We deliver more value by working as One Philips