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Strategy

Having improved considerably since 2012, we continued to make progress in 2016. Both our return on sales (ROS) of 9.3 percent and return on investment (ROI) of 12.8 percent were in line with our performance range 2016-2018 (between 8-10 percent and more than 11.5 percent, respectively). As a result, we are moving closer to the company’s vision of leading market positions delivering leading performance. We updated our strategy in 2015 to better reflect our new organization, market approach and growth ambitions. The current strategy is based on winning locally, supported by selected global initiatives to leverage our scale. Actions Winning locally We have a unique [...]

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Strategy

We delivered at the higher end of our 2016-2018 performance range, with return on sales (ROS) of 13.4 percent and return on investment (ROI) of 29.4 percent. Despite headwinds in the market, we remained focused on building on the solid performance foundation we have created and growing in line with, or faster than, our relevant market segments. Although the year was not without its challenges, we managed to offset continued weakness in new ship construction and oil and gas capital spending, while we achieved growth in areas such as our Powder Coatings and Vehicle Refinishes businesses. It was also a year of exploration and growth – new additions to our product [...]

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Our strategy

As we continue to create everyday essentials to make people’s lives more liveable and inspiring, we are proud to have achieved a record year of profitability in 2016, in terms of return on sales (ROS) and return on investment (ROI). Our ROS came in at 10.6 percent, while our ROI was 15.0 percent. Both performance metrics have been delivered at the upper end of our financial guidance for 2016-2018. The continued achievement of our financial targets over several successive years highlights the progress we have made. Our strategy is showing results. We have also made progress towards a high performance culture with the successful introduction of new values and [...]

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Strategy

We achieved a return on sales (ROS) of 13.2 percent and return on investment (ROI) of 17.9 percent. These figures were at the upper end of our performance range for 2016-2018 (11.5 to 13 percent and more than 16 percent, respectively). We delivered our stated objective of growing in line with, or faster than, our markets, although volume growth has been modest. Our volumes saw an upward momentum in the second half of the year. Markets showed very mixed growth levels and the overall sector was stable at best. In this business environment, we remain highly focused and will continue with our approach to build on the foundations we have created. We aim to deliver our [...]

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Supervisory Board activities

Strategy reviews During 2016, the Supervisory Board continued to allocate adequate time at each Supervisory Board meeting to discuss strategic activities. This included detailed Business Area analyses and functional and operational strategy updates. The company’s continued pursuit of operational excellence and efficiencies, the implementation of the Global Business Services (GBS) model and restructuring of functional departments were all areas of focus. In addition, the company’s digital strategy was reviewed and strategy updates were received from Information Management, Human Resources and Sustainability. The Supervisory Board received comprehensive market [...]

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Note 1: Managing our sustainability agenda

Our purpose and strategic focus Our sustainability agenda incorporates economic, environmental and social aspects across the value chain. The importance of sustainability to running our business is firmly integrated into our purpose and AkzoNobel’s strategy. As well as being a strategic focus area, it is one of the three core principles (safety, integrity and sustainability) that provide the foundation for our company values and the Code of Conduct. In addition, sustainability is being embedded into our company-wide processes, including Innovation, Commercial Excellence, Procurement and Talent Management. Sustainability helps us to enhance and grow our existing [...]

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Supervisory Board Chairman’s statement

AkzoNobel can reflect on a year of progress on several fronts as the company continued to supply everyday essentials for customers and consumers while helping to create a more sustainable world. There was a keen focus on innovation and starting to accelerate the digital agenda, while sustainability was further embedded into all aspects of the company’s global activities. The next phase of the strategy – announced in late 2015 – is proving to be effective as AkzoNobel continues to create value for shareholders and move towards its vision of leading market positions delivering leading performance. As a Supervisory Board, we are committed to the company’s [...]

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Medium-term risks

[...] turn could result in the company not realizing its financial guidance. Mitigating actions Continue our strategy to bring down our operational cost base and reduce complexity Leverage our Global Business Services organization to further standardize core functional processes in all regions Further deploy our commercial excellence programs and more sustainable product solutions to capture organic growth and offset the effects of decreased economic growth rates Have contingency plans prepared for a select number of scenarios, dealing with geographical or segment slowdowns Expand our innovation capabilities to develop and deliver faster differentiated customer value [...]

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Strategic focus areas

In 2012, we identified five strategic focus areas to significantly drive value and position the company for the future. They summarize what is important to our continued success. To drive this on an operational level, we work with six key processes, supported by a series of actions to help us continue on our strategic path and take performance to the next level. Our five focus areas are as follows: Strategy framework: In the second phase of our strategy development we are focusing more on organic growth, innovation and pursuing value generating acquisitions. Care for the customer We aim to secure a leadership position in all the markets we serve. This is being [...]

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Auditor’s report

[...] of considerations not associated with recurring audits to establish an appropriate audit plan and strategy. Besides the key audit matters, other areas of focus were provisions, the acquisition of BASF’s Industrial Coatings business and information technology general controls (ITGC). The ITGC are the policies and procedures used by the company to ensure information technology (IT) operates as intended and provides reliable data for financial reporting purposes. As in all of our audits, we also addressed the risk of management override of internal controls, including evaluating whether there was evidence of bias by the Board of Management that may represent a risk [...]

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