Diversity

A Year of Transformation The year 2001 was one of transmutation for Philips generally and, in particular, for Philips in the join States. During the year Philips perfect a $5 billion, three-year acquisition program for Philips Medical Systems with the corrupt of Agilents healthcare business and Marconis medical imaging business. The result is a new Philips Medical Systems, the global number two faker in medical diagnostic imaging equipment. In the United States, Philips Medical has become the second largest medical equipment imaging go with (behind General Electric) and the single largest Philips business, with 10,500 employees. Philips Medicals sales are bigger than those of all U.S. consumer businesses (Consumer Electronics, interior(prenominal) Appliances & Personal Care, Lighting) combined. All six Philips result divisions operate in the United States, and the stinting downturn in the technology sector has adversely affected many of them. Semiconductors and Components, both(prenominal) global businesses, were severely forceed, and the slowing of the economy affected the consumer divisions ? Consumer Electronics, Domestic Appliances & Personal Care, Lighting ? as well.

The overall impact of the economic deceleration and our cost containment measures has resulted in a substantially rock-bottom workforce of 24,000 people (30,000 people in 2000) and fewer outturn facilities. At the same time, almost every Philips division has act coalescences and joint venturing as a way to reduce cost while stimulating growth. Two that have had significant impact on the U.S. marketplace are: the creation of LG.Philips, a demonstrate technology joint venture between Philips Components and LG Electronics of Korea; and the strategic alliance between Philips and AOL Time Warner to collaborate on device phylogenesis and a series of online, on-air and print marketing initiatives, to help add-on both the reach and scope of the brands around the world. Detailed one-year results for 2001... If you want to get a full essay, order it on our website: Ordercustompaper.com

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