Our strategic focus
We have over 150 years of experience in developing technology that society needs to function seamlessly. This experience, in combination with our focus on building strong relationships, means that we know our stakeholders well.
While we are proud of our past achievements, we continue to strive towards new heights. As we are committed to our mission and ambitious targets, we also have a clear strategy.
This strategy is based on our vision (to become and remain First in Mind—First in Choice) and mission (to achieve sustainable, profitable growth).
Innovation
As part of our strategy, we improve our customers’ productivity and support their success, by developing new products and solutions that are critical to their operations. Energy efficiency, connectivity and data-driven insights are often key to creating value for our customers.
This continuous innovation is made possible by our leading and differentiated technologies – along with significant investments in research and development.
Energy efficiency, connectivity and data-driven insights are often key to creating value for our customers.
Presence
We create lasting growth by leveraging our global market presence and diverse customer base. To increase our market presence, we expand into segments and technologies close to our core. We identify profitable niches and operate in select market segments. In these segments, we aim for a leading position.
Depending on the customer and market, we sell our products directly or indirectly – and sometimes under different brands.
We think it is best to keep production close to our customers. That is why you can find our production units in Europe, Asia and the Americas. Always looking to exceed expectations, we strive for improved operational efficiency with responsible use of resources.
People
We build our culture on freedom with accountability, along with supportive leadership and access to lifelong learning. All to create a sense of belonging for the passionate, committed and knowledgeable people that choose to be part of our teams. This is crucial to our success.
We build our culture on freedom with accountability, along with supportive leadership and access to lifelong learning.
Service
Our strong focus on service, speed, and agility will come as no surprise, as lasting relationships are key to our success. We seek to perform more service on a higher share of the installed base of equipment. Also, we aim to extend our leading service offering by giving customers new insights, supported by connected products.
Resilience
Our agile approach allows us to adapt quickly when things change – providing built-in resilience for our business.
In a good business climate, we are able to add resources and working capital while making incremental investments. Conversely, in a deteriorating business climate we can reduce variable costs and working capital. This is thanks to our asset-light operations and profitable aftermarket service business.
To further create the right conditions for speed and agility, we use a decentralized model with clear accountability, outsourced production model, flexible workforce and continuous scenario planning.
Our Group targets
Part of an effective strategy is knowing what we are working towards. For us, the Group targets are just that.
Our Group targets reflect our mission of achieving sustainable, profitable growth. Focusing on the areas where we make the largest impact – and where we see significant risks or opportunities – allows us to get the most out of our efforts.
In the end, working towards our targets is an opportunity for us to deliver value to our stakeholders, build business resilience and take responsibility for managing our environmental and social impact.
