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Qualitative and Quantitative Analysis of Philips

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QUALITATIVE AND QUANTITATIVE ANALYSIS OF PHILIPS Authors (Universitat de Barcelona): Guillem Puig Comerma Xavier Mestres Márquez EDITOR: Jordi Marti Pidelaserra (Dpt. Comptabilitat, Universitat Barcelona) Guillem Puig Xavier Mestres 31/05/2013 Anàlisis dels estats comptables 2 FIRM ANALYSIS 3 INDEX 1. Introduction………………………………………………………………………………………………………. 4 2. History……………………………………………………………………………………………………………….. 4 3. Mission………………………………………………………………………………………………………………. 4 4. Vision………………………………………………………………………………………………………………….4 5. Philips Activities…………………………………………………………………………………………………. 5 1. Healthcare…………………………………………………………………………………………….. 5 2. Consumer Lifestyle……………………………………………………………………………….. 6 3. Lighting…………………………………………………………………………………………………. 7 4. Innovation…………………………………………………………………………………………….. 9 6. Group Strategic focus………………………………………………………………………………………… 10 7. Company Structure……………………………………………………………………………………………. 10 8. Management…………………………………………………………………………………………………….. 11 9. Philips Evolution………………………………………………………………………………………………… 12 10. Holding………………………………………………………………………………………………………………. 13 11. Strategic Alliances……………………………………………………………………………………………… 14 12. Shareholders……………………………………………………………………………………………………… 15 13. Suppliers.................................................................................................................16 14. Clients.....................................................................................................................16 15. Competitors............................................................................................................16 16. Appendix…………………………………………………………………………………………………………… 18 4 1. Philips Introduction Philips is a diversified technology company active in the markets of healthcare, lighting and consumer well-being. The headquarters are in Amsterdam (Netherlands) 2. History Philips was founded in Eindhoven (Netherlands) in 1891 by Frederik and Gerard Philips to manufacture incandescent lamps and other electrical products. Koninklijke Philips Electronics N.V., the company, which started as a limited partnership with the name Philips & Co. In Eindhoven, the Netherlands, in 1891, was converted into the company with limited liability N.V. Philips’ Gloeilambpenfabrieken on September 11, 1912. On May 6, 1994, the name was changed to Philips Electronics N.V., and on april 1, 1998, the name was changed to Koninklijke Philips Electronics N.V. Its shares have been listed on the Amsterdam Stock Exchange, Euronext Ambsterdam, since 1912. The shares have been traded in the United States since 1962 and have been listed on the New York Stock Exchange since 1987. The foundations of Philips were laid in 1891 when Anton and Gerard Philips established Philips & Co. in Eindhoven, the Netherlands. The company begun manufacturing carbon- filament lamps and by the turn of the century, had become one of the largest producers in Europe. Stimulated by the industrial revolution in Europe, Philips’ first research laboratory started introducing its first innovations in the x-ray and radio technology. Over the years, the list of inventions has only been growing to include many breakthroughs that have continued to enrich people’s everyday lives. 3. Mission Philips has the mission of improve people’s life through meaningful innovation. Innovation is core to everything they do. But innovation does not only mean “new technology”. It can also mean a new application, a new business model or a unique customer proposition brought about by an innovative partnership. By tracking global trends and understanding the challenges facing people in their daily lives, they ensure that people in their daily lives, we ensure that people’s needs and aspirations remain at the heart of their innovation endeavours. 4. Vision At Philips, we strive to make the world healthier and more sustainable through innovation. Our goal is to improve the lives of 3 billion people a year by 2025. We will be the best place to work for people who share our passion. Together we will deliver superior value for our customers and shareholders. 5 5. Philips activities 5.1. Healthcare Philips is one of the world’s leading health care companies (based on sales) along with General Electric and Siemens. The United States, is its largest market, represented 41% of our Healthcare business’s global sales in 2012, and it is followed by Japan, China and Germany. Growth geographies accounted for 24% of Healthcare sales. It has to be noted that the global economic crisis has had a negative effect on Philips Healthcare’s sales in Europe, particularly in the southern Europe. Philips Healthcare employs approximately 37,500 employees worldwide. On this Philips Healthcare market, sales are generally higher in the second half of the year. Philips Healthcare is organized around four big sub activities or strategies that are the following ones: Imaging Systems (Integrated clinical solutions that include radiation oncology, clinical applications and platforms, etc.), Patient Care & Clinical Informatics (Enterprise patient monitoring solutions, from value solutions to sophisticated connected solutions), Home Healthcare Solutions (Sleep management, respiratory care and non-invasive ventilation.) and Customer Services (Equipment services and support, including service contracts, equipment maintenance, etc.). The main objective of Philips Healthcare is being the leader of the market and they want to reach that point by innovating and creating new healthcare technology. Philips Healthcare’s department has thought about some goals to reach in the next few years which could give Philips the leadership of the healthcare market. These ideas are: Implement Accelerate! Transformation, Driving to co-Leadership on Imaging Systems, Achieving leadership with holistic innovation in Patient Care & Clinical Informatics, International expansion of the Home Healthcare Solutions business, Invest for leadership in growth geographies as China, India and Arabic countries specially Saudi Arabia and Abu Dhabi, Executing operational excellence initiatives to increase margin and time-to-market and finally Deliver on EcoVision sustainability commitments. 6 Philips has some healthcare priorities for 2013 related to innovating and developing new activities and the existing ones: Complete its Accelerating Healthcare transformation. Invest in its growth initiatives to deliver differentiated offerings from the hospital to the home Create momentum behind Customer Services. Implement its end-to-end customer relationship management solution across the global Philips Healthcare organization. Create a high-performance organization as measured by ongoing employee surveys and business results. Institutionalize its end-to-end operating framework to optimize financial returns on our portfolio and improve the customer experience. 5.2. Consumer Lifestyle At consumer lifestyle Philips wants to make the world healthier and more sustainable through innovation, make life easier and more comfortable, it is also focused on value creation through category development and delivery through operational excellence. Something it has to be highlight is that in difference between the other sectors where Philips works, on this specific one (consumer lifestyle) it knows there are lots of competitors and being the leader of this kind of market is not its main objective. If we talk about the products make by Philips we have to know that it bases its products on four key parameters that represent the image of the firm. These four points, which Philips has in mind before creating a new product for use in everyday life, are: *Consumers have a growing interest in personal health. *Consumers are increasingly appearance-conscious. *Consumers want healthy food that is also easy to prepare. *In a complex market environment, consumers look for responsible brands they can trust. We think it is also important to say in which business areas Philips focuses its consumer lifestyle production. From our point of view and agreeing with Philips, these areas are four: 1. Health & Wellness: mother and childcare, oral healthcare. 2. Personal Care: male grooming, skincare, beauty. 3. Domestic Appliances: coffee, floor care, garment care, kitchen appliances, water & air, beverage appliances. 4. Lifestyle Entertainment: audio and video entertainment; communications, headphones and accessories. 7 It also has some priorities for consumer lifestyle for 2013: Drive global scale and category leadership in health and well-being categories with attractive profit pools. Further reduce our cost base. Improve return on investment in marketing. Roll out end-to-end programs that will drive reduced time-to-market, reduced inventories and improved gross margins. After having discussed these first two sectors in which Philips acts, we can see the great involvement of the company in everything related to improving people’s life, making it better, easier, more comfortable and increasingly technological. 5.3. Lighting Philips serves a large and attractive market that is driven by the need for more light, energy-efficient lighting, and digital lighting. This industry is very important for Philips especially because is a growing market which has a lot of possibilities and future given the fact that over half the world’s population currently lives in urban areas: a figure that is expected to rise to over 70% by 2050, and all that people will need light. Philips is a global market leader with recognized expertise in the development, manufacturing and
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