Business excellence

Philips continuously explores new ways to improve products and to offer innovative products to its consumers. That’s why Philips has created a program through which we will reach higher and higher quality levels in all products and services. In fact, this quality improvement program affects all our employees and all our processes, in every country, division or department, encompassing everyone from Board of Management-level to the shop floor.

Philips calls it:

“BEST” - BUSINESS EXCELLENCE THROUGH SPEED AND TEAMWORK -

The BEST program is Philips’ chosen path to achieve business excellence. It describes a set of methods and tools by which we continuously improve our efforts. Previous successful initiatives are incorporated in the program to make sure we learn as much as possible from our successes in the past.

Business Excellence

We are all committed to improving processes in-line with the company’s strategic targets. To this end, Philips has adopted BEST to reach this goal. It is our ambition to be one of the best companies in the world: the best to trade with, work for, and invest in.

Our Measures:

• Customers are fully satisfied by the quality of Philips' products and services
• Employees develop and use their full potential
• Shareholders get a premium return on their investment
• Suppliers choose to work with us as this generates superior value for both
• The larger community appreciates our contribution to the quality of life

Speed and Teamwork

Speed and Teamwork lie at the heart of the BEST initiative. Each and every individual within Philips knows that only by fully cooperating and working together we are able to perfect our business processes. That's why we focus on:

• Working smarter and reducing the cycle-time of processes
• Working in teams and learning from the best practices of others

The tools and approaches in the BEST initiative all are based on these two focal areas and all fit in the improvement cycle:

"Plan - Do - Check - Act"