Avnet has established three strategic pillars that we manage the company to:
More than eight years ago, we turned our attention to profitable growth with return on capital and economic profits, rather than accounting profits, as our primary measures of success. Our goal is to deliver more value and getting paid fairly for it. Our objective is to outpace the markets we serve on the top line and grow economic profits substantially faster than sales. For our Electronics Marketing operating group with superior technical expertise and supply chain solutions, we are taking advantage of synergistic opportunities to sell more components, services and solutions to customers throughout the design-to manufacturing process.
For computer products division, Technology Solutions, we are now targeting vertical markets with value-added scalable services. We are expanding our line card to embrace emerging technologies and complementary new suppliers.
At Avnet, operational excellence is everyone's responsibility, because no one knows his or her job better than the person doing it. Everyone at Avnet is encouraged to seek opportunities for process improvement and is given tools and training to foster innovation. Our corporate operational excellence team supports efforts throughout the company to streamline processes and eliminate steps that do not add value. Operational excellence directly impacts top line and bottom line performance by increasing customer satisfaction while increasing productivity, which further distances us from our competitors.
Avnet strives to help all employees meet their potential. In each of the past five years, we have conducted a comprehensive survey gathering our employees' input and benchmarking us against other leading companies. Survey results show that our people have an excellent understanding of Avnet's business goals and how their jobs contribute to achieving them. They also understand our core values, feel they are treated with respect, and believe Avnet conducts business with honesty and integrity. Additionally, all employees are expected to maintain professional development plans; we continually refine our training programs at every level of the business, from classes tailored to our top 300 executives to an online catalog of courses for supervisors and individual contributors. We take great pride in knowing our success is grounded in Avnet's culture of performance and values, one that puts our financial achievements on equal footing with our principles.
Avnet's goal is to be the premier technology distribution company in the world.
A Global Outlook
With more than 12,500 employees selling our supplier partners' products and services in 70 countries, we have built industry leading scale and scope and we are leveraging it. With an excellent team of senior leaders our mission is to lead Avnet in reaching its goals faster and outperform our competitors. We formed the Global Executive Council, comprising our "C-level" executives and regional presidents, which meets quarterly to develop and drive Avnet's strategies. We unveiled a global alignment for our financial, logistics, information technology, operational excellence and human resources support functions that will help us operate those services more efficiently while allowing the business groups to increase the amount of time focused on growth.
Our vision is to be the premier technology marketing, distribution and services company in the world for our customers, suppliers, employees and shareholders. How will we do it? Innovation. Execution. Excellence. We have the knowledge, tools, products, services, people and financial resources we need to win in the marketplace. Our global organizational structure is in place. Profitable growth is our mantra, and we have real traction in our operational excellence and people development initiatives. The result: economic profits and shareholder value growth. In short, we have what we need to compete very well in fiscal year 2009 and beyond.