Mission and vision / values and strategy

Philips has reinvented itself many times, but through it all our core, the soul of our company, remained intact. That is because it was part of our company since its inception in 1891. It is the passion to…

"Improve the quality of people’s lives through timely introduction of meaningful innovations."

In a world where complexity increasingly touches every aspect of our daily lives, we will lead in bringing sense and simplicity to people.

• Delight customers
• Deliver on commitments
• Develop people
• Depend on each other

We empower people to benefit from innovation by delivering on our brand promise of “sense and simplicity”
This brand promise encapsulates our commitment to deliver solutions that are advanced, easy to use, and designed around the needs of all our users.

Philips is on a journey to transform itself into a truly market driven and people centric company. This involves a strategy that aims to grow the company further in the areas of Healthcare, Lighting and Consumer Lifestyle. As part of its "Vision 2010" strategy, Philips has simplified its business structure to align with this strategy by creating three core sectors as per January 1, 2008: Philips Healthcare, Philips Lighting, and Philips Consumer Lifestyle.

• Vision 2010 aims to fuel growth through sharpened strategies for Healthcare and Lighting, as well as an integrated approach for Consumer Lifestyle.
• Vision 2010 positions Philips as a market-driven company, people centric with a structure that matches the needs of our customer base. Vision 2010 confirms we’re a company focusing on three market sectors: Healthcare, Lighting and Consumer Lifestyle.
• As a result of Vision 2010, Philips has announced it expects higher levels of operating profitability. By 2010, Philips expects to more than double its EBITA per share compared to the level expected in 2007.

We will reach our objectives by executing on the following strategic actions:

1. We are a people-centric company that organizes around customers and markets
2. We invest in a strong brand and consistently deliver on our brand promise of “sense and simplicity”, in our actions, products and services
3. We deliver innovation by investing in world class strengths in end-user insights, technology, design and superior supplier networks
4. We develop our people’s leadership, talent and engagement and align ourselves with high performance benchmarks
5. We invest in high growth and profitable businesses and emerging geographies to achieve market leadership positions
6. We are committed to sustainability and focus on making the difference in efficient energy use
7. We drive operational excellence and quality to best in class levels, allowing us the above mentioned strategic investments in our businesses