Philips 2015 Annual Report Download - page 14
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Our strategic focus 4.2
14 Annual Report 2015
4.3 Accelerate! journey continues
In 2011 we set out on our Accelerate! journey of change and performance improvement. Designed to transform Philips
into an agile and entrepreneurial company, Accelerate! is all about delivering meaningful innovation to our customers
in local markets – and doing so in a fast and ecient way.
The program has three main thrusts:
•transform to address underperformance
•expand global leadership positions
•initiate new growth engines
We are now in the fth year of this transformation process, and our Path to Value is clearly mapped out:
Accelerate! roadmap
2011 2016
Transform to address underperformance
• Turnaround or exit underperforming businesses
• Productivity and margin improvements
• Rebuild culture, processes, systems and capabilities
• Implement the Philips Business System
Expand global leadership positions
• Invest to strengthen our core businesses
• Resource allocation to right businesses and geographies
Initiate new growth engines
• Invest in adjacencies
• Seed emerging business areas
Accelerate!
For 2016, we continue to expect modest comparable sales growth and we will build on our 2015 operational performance
improvement. Taking into account ongoing macro-economic headwinds and the phasing of costs and sales, we expect
improvements in the year to be back-end loaded.