Our Strategy in Action
We have a strategy to make sure that we are the leaders in our field, with the customer and materials insight to apply our capabilities quickly and effectively.
Increasing technical differentiation
Research and development (R&D) investment has been increased to build Morgan’s technical lead and to accelerate new product development.
The Group’s R&D strategy is governed by four objectives:
- To be the acknowledged leader in materials science for our chosen technology families.
- To understand the application of our materials science in our customers’ products and processes, providing maximum benefit to them through advanced application engineering.
- To demonstrate a clear understanding of where our technology competences are positioned today against competitors and emerging and competing technologies, forming a clear view of where we need to be.
- To build the depth and the breadth of our understanding through a community whose culture is collaborative and which develops deep institutional knowledge.
Improving operational execution
There are a number of opportunities across the global business units to improve operational execution. Resource and capital are allocated to support specific improvements to efficiency and effectiveness on a business-by-business basis.
Our operational efficiency programmes focus on:
- Global sourcing – moving from local to regional or global sourcing of raw materials.
- Lean identification and elimination of waste within the production processes and the acceleration of continuous improvement projects.
- Manufacturing strategy – improving global capacity management and sourcing.
- Benchmarking – sharing best practice across divisions and global business units to achieve and monitor cost savings.
- Local continuous improvement – multiple local improvement projects to improve efficiency.
- Automation – the use of automation to improve effectiveness and reduce production costs.
Increase investment in people management and development
The Group aims to strengthen its leadership capability and deepen functional capabilities across the business.
The most significant developments over the past 12 months:
- We now have 1,200 employees using our performance management process and this will extend to 2,300 in 2020.
- We have introduced an assessment process aligned to the Leadership Behaviours for all senior recruitment.
- We launched Catalyst and Ignite, our leadership programmes These feature a blended learning approach over a 14-month time frame. In addition, participants work on a business project and have a senior mentor.
- We now hold more regular talent conversations across the organisation, and the conversations go deeper into the organisation. Ultimately, this helps us identify those with a greater potential, and helps increase our focus on diversity (in all forms). These talent conversations also help us place the right people on our development programmes and reinforce our Leadership Behaviours.
Drive sales effectiveness and market focus
The Group is focused on improving a number of aspects of our sales activity and the capability of our sales teams: sales processes and their efficiency, the management of key customer accounts and distribution channels, deeper understanding of end-markets and faster-growing segments, enabling systems, and sales incentives plans.
The Group is driving improvements in these areas through its sales effectiveness programme.