Business model - Smiths Group plc

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Our ambition

Our ambition is to establish Smiths as one of the world’s leading technology companies.

Our strategy

We will achieve our ambition by outperforming our chosen markets and delivering world-class competitiveness and innovation, to deliver sustainable growth and attractive returns.

We actively manage our portfolio of businesses to ensure we are competitively positioned in attractive markets globally with strong long-term profitable growth prospects, where we can sustainably achieve a top three leadership position.

We will drive outperformance and competitiveness through innovation, our shared operating model that drives speed and efficiency across our value chain, and by building a learning organisation where our people can be the best they can be.

We are experts in our markets, with a strong understanding of customer needs.

Our divisions

Our divisions serve specialist technology markets worldwide and are unified by four common characteristics:

  • sustainably competitive and asset-light
  • technology differentiation
  • increasing digitisation
  • a high proportion of aftermarket services

John Crane

Mission-critical engineered solutions for global energy and process industries

Smiths Medical

High-quality, cost-effective medical devices and consumables that are vital to patient care

Smiths Detection

A leader in the detection and identification of security threats and contraband

Smiths Interconnect

Solutions for high-speed, secure connectivity in demanding applications

Flex-Tek

Innovative components to heat and move fluids and gases

Our operating model

The Smiths Excellence System is our shared operating model. It helps us apply best practice across the Group to drive speed and efficiency on a sustainable basis, as we work to ensure consistent execution and a culture of continuous improvement.

Customer

We partner with our customers to steer our product innovation and technology development

People

We work to attract, retain, engage, develop and inspire the best people to help us deliver results

Technology

We aim to bring innovative, differentiated solutions to market quickly

Production

Our production processes drive efficiency, enhance safety and improve quality

Programme

We work to drive consistent and flawless execution across programmes

Supply

We are building strong, strategic supplier relationships to ensure quality, efficiency and flexibility

Financial framework

Our strong financial framework provides the flexibility to enable us to create superior returns and invest in growth.

It helps us manage our business efficiently to optimise cash generation and allocate capital to the best organic and inorganic opportunities to create value.

We have a strong governance framework and robust approach to risk management and financial control.

The result

As a globally aligned organisation that is committed to doing business responsibly, we generate value for a wide range of stakeholders around the world.

Financial value

We generate superior shareholder returns on a sustainable basis, as well as delivering economic value where we operate around the world

Social value

Our solutions meet customers’ evolving needs and have a positive impact on the world, enhancing security, improving healthcare, advancing connectivity, driving efficiency and reliability, and reducing environmental impact.

We source components and materials from approximately 12,000 suppliers globally and expect our partners to meet our own high ethical standards.

We also support the communities in which we operate around the world

Value to employees

We employ around 22,000 people in more than 50 countries, and give them the opportunity to be the best that they can be



Our values

Our shared values of integrity, respect ownership, customer focus and passion guide our behaviour, actions and decisions every day.





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Smiths Group divisions:

John Crane, Smiths Medical, Smiths Detection, Smiths Interconnect, Flex-Tek

Smiths Group plc:
Registered office 4th Floor, 11-12 St James’s Square, London, SW1Y 4LB
Incorporated in England No. 137013
Copyright 2017 Smiths Group plc.
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