It’s a reward not just for the past year, during which the company has been making all the right headlines for its innovations, but also for building upon our more than 120-year heritage of ground-breaking products. That journey led us to reposition the brand last year with the launch of ‘innovation and you’ – a simple message that encapsulates our philosophy of developing products that improve people’s lives.
Our innovations begin and end with the customer, in that we search for solutions to problems that sometimes they don’t even realize exist – or that they believe can’t be solved. We listen to them to understand their concerns, work with them to perfect the solutions and then use design, technology and data responsibly to ensure our products become even more meaningful on a personal level.
I believe that is why Philips has leapt above so many of our competitors in the BCG ranking – the deep insights and skills from innovation and technology that we possess as a company are entirely focused on the customers’ needs. Whether that is a city-wide lighting system that maximizes safety and minimizes municipal costs, or a connected air purifier that is controlled by a smart phone, or a portable Ultrasound device that greatly expands the access to care, that customer-first rationale is what makes us unique.
The elevated BCG ranking is also testament to how our highly skilled businesses, working to exacting standards and meeting increasingly demanding needs from our customers, fulfil those aims. Plus, it’s the reward for a successful repositioning which means Philips now has a clearer mission and vision. With ‘innovation and you’, people – whether a high-ranking executive or a loyal customer – know what we stand for. That we think more aggressively about innovation, use technology, data and algorithms to increase the efficacy of our products, partner with third parties to bring products to market faster, and scale them rapidly.
Speed is vital because Philips is creating solutions to the most vital problems of our time and of future generations – innovations to make our cities more vibrant, that allow us to control our own well-being and meet the needs of aging populations, and that will protect the planet’s precious resources.