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The importance of big corporations -Work at Smiths Group plc
- 1. Profiting from Large Companies Martin Jones Former Director of Technology & Innovation, Smiths Group plc
- 2. Times today are tough for us all
- 3. Times today are tough for us all But recovery will be led by our big corporations Let’s take a look inside one……..
- 4. Smiths Group plc Annual Sales £3500 million 35,000 people International business
- 5. Smiths Medical Specialised devices and equipment for critical and intensive care Innovation is the key to growth in a dynamic market Market leader with premium products Medical technology innovator Organic and acquisitive growth Ambulatory Airway management Ambulatory infusion insulin pump Specialised healthcare helping diabetics equipment - infusion, Vascular access Women’s healthcare blood warming and monitoring Needle protection Pain management Critical care Temperature Hospital infusion management Safe needle closure Single-use devices preventing needlestick - an essential part of injuries new procedures FARN 0702 | 6
- 6. Smiths Aerospace One of the world’s leading aerospace equipment suppliers Defence 50% Top tier supplier Civil Aerospace Systems integrator 35% Commitment to R&D Detection etc. 60% of business in 15% high growth markets (sales)
- 7. Smiths Industrial Electronic interconnect; instrumentation Principal activity: Interconnect - the connection and protection of safety-critical electronic circuits Multi-pin connectors Microwave cable assemblies Microwave components Surge suppression Lightning strike protection for Aerospace & defence Medical electronics Railroad signalling Cellphone infrastructure FARN 0702 | 5
- 8. Smiths Detection A major new market opportunity Applications in both Total market size military and $1.1bn commercial sectors Detection systems - next ten years Facilities $2bn protection - $4.5bn agencies Military Transportation security Equipment for detecting chemical, biological, nuclear, explosive and narcotic threats Well established military business in battlefield systems Substantial requirement for airport security worldwide - meeting increased threat from terrorism post 9/11 Additional opportunities in public buildings Smiths is investing heavily in a growing market FARN 0702 | 13
- 9. Types of large company • Centralised? • Decentralised? • Where are the decisions made?
- 10. Some companies within Smiths Group plc FARN 0702 | 5
- 11. New product development A key driver of business growth
- 12. Innovation is rarely straightforward Suppliers participate in the ups and downs……. …….and must be part of the team
- 13. An innovative business needs: • The right culture for teamworking • Capable people • The knowledge • Effective networking
- 14. Product innovation involves suppliers from the start • Product specification • Design studies • Innovative thinking • New processes • Logistics
- 15. The ideal supplier….. ……brings solutions and not problems FARN 0702 | 5
- 16. Quality Management Systems • Visibility of how well you do things • ISO 9001 - Management • ISO 14001 - Environmental • Certification must be accredited (UKAS)
- 17. Always on the lookout for new suppliers • Increased outsourcing • New technology • Better quality • Improved service standards • Lean approach FARN 0702 | 5
- 18. Design Innovation – A UK strength Design consultants are influential decision makers – A potential link to major customers FARN 0702 | 5