December 1, 2014: After analysing the global lighting market, Frost & Sullivan has recognised Philips Lighting as the best lighting company in 2014 and honoured it with ?2014 European Frost & Sullivan Lighting Company of the Year Award?.
Philips has many and one of them being the setting up of a strategy team that studies different trends to capture customer insights and market needs, said Balaji Anand Sagar, Frost & Sullivan Research Analyst. Philips also uses advanced lean manufacturing practices to further improve its production processes and meet market expectations.
Philips Lighting’s success is due to its four pillar strategy. The first strategy is to lead in the technological advancements with innovations in LED and become the leader in the market. Second, is to drive innovations in the general lighting systems by offering intelligent lighting technologies. Third is to develop new business models; and fourth, is the development of an internal business improvement programme called Accelerate, which has ensured best-in-class manufacturing practices that has driven the company’s growth in the lighting industry.
Every year, Frost & Sullivan presents this award to a company that demonstrates excellence in strategy for growth and its implementation. The award also recognises product innovations and advancements in technologies.
Frost & Sullivan?s Best Practices Awards recognise firms in different regions and global markets for demonstrating excellent achievement and performance in like technological innovation, leadership, strategic product development and customer service.
For more information: http://ww2.frost.com/news/press-releases/frost-sullivan-recognises-philips-lighting-2014-european-frost-sullivan-lighting-company-year-award/
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