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Our strategy is shaped around our core purpose: To support our customers in addressing some of the world's most pressing challenges enabling a greener economy, increased connectivity, improved health and leaps in scientific understanding.
Horizon, our transformational programme for the Group, is building a stronger Oxford Instruments, positioned to deliver long-term sustainable growth and margin improvement. As a customer-centric, market-focused Group we understand the technical and commercial challenges faced by our customers.
Our strategy enables us to provide more value to our existing customers as well as expand into new attractive markets and application areas.
We have continued to make good progress with the implementation of our Horizon strategy, which is delivering tangible financial benefits to the Group. With the key tenets of our Market Intimacy, Operational Excellence, Innovation and Product Development initiatives well embedded across the Group, and positive early progress from the transformation of our Customer Support services, we continue to identify further opportunities to drive growth and improve the efficiency and productivity of the business through further development of Horizon initiatives.
Through Horizon we continue to transform the organisation into a customer-centric, market-driven business. This includes how we are organised internally, our core capabilities and how we work with and support our customers and other stakeholders. In the year we have developed the Oxford Instruments Business System, which has formalised the processes and procedures for conducting business within the Group. This ensures that all of our employees have visibility and awareness of the best practice improvements arising from Horizon whatever their role, meaning that we benefit from a unified culture and breakdown functional silos.
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Building on an in-depth understanding of our customers, applications and markets to help us strengthen relationships whilst developing a commercially strong sales engine, equipped with the tools for success.
Progress in 2020
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Focusing our R&D investment on higher growth segments, prioritising our efforts on the most valuable product development opportunities, aligning with market developments and customer needs.
Progress in 2020
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Sharing our expertise and knowledge to help our customers get the most from their relationship with Oxford Instruments, whilst leveraging our scale to deliver quicker response times and increased local support.
Progress in 2020
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Targeting improvements to deliver a step-change in strategic procurement, operational efficiency and logistics, providing a world-class experience for Oxford Instruments' customers.
Progress in 2020
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Identifying and developing the key capabilities our employees need to help them succeed and to deliver the strategy, whilst building a culture of accountability to empower our teams to own the challenge and the solution.
Progress in 2020
Priorities for 2021