2019 Integrated Annual Report
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2020
strategy

Since its start in the 2014 fiscal year, the 2020 Strategy has continued to serve as a valuable guidepost for the company. Using our collective imagination, we’ve developed new ideas to shape our workforce, drive consumer value, expand our business, support our communities, become more productive and use our resources more efficiently. In addition, we’ve maintained very high employee engagement. These factors have been driving forces behind our goal of Good Growth — profitable, sustainable and responsible growth.

Mission

We make everyday life better,
every day.

objective

Be the best at building big-share
brands in economically attractive,
midsized categories.

COMMITMENT

Leverage environmental, social and governance performance to help drive long-term, sustainable value creation.

Strategies

  Business CORPORATE RESPONSIBILITY
1 Engage our people as business owners. Promote diversity, opportunity and respectful treatment for all people who touch our business.
2 Drive superior consumer value behind strong brand investment, innovation and technology transformation. Make responsible products responsibly.
3 Accelerate portfolio momentum in and around the core. Safeguard families through initiatives that promote health, education and safety.
4 Fund growth by reducing waste in our work, products and supply chain. Shrink our environmental footprint while we grow.

Operating
Model

FACTORS DRIVING OUR BUSINESS SUCCESS

To achieve our business goals, we need to leverage the unique foundational attributes of our company, manage external factors that can influence our success and optimize our relationships with important partners such as our employees, retail customers and communities.

Foundation

  • Our Values
  • Do the right thing
  • Stretch for results
  • Take personal ownership
  • Work together
    to win
  • Our Resources
  • Talented and engaged employees
  • Leading brands
  • Superior brand-building capabilities and innovation
  • Sustained brand investments
  • Strong product portfolio
  • Financial discipline
  • Strong cash flow

External Influences

  • Laws and regulations
  • Global economy
  • Natural resources
  • Competition
  • Raw materials and other input costs

OUR RELATIONSHIPS

  • Consumers
  • Employees
  • Retail and non-retail customers
  • Suppliers and other business partners
  • Communities
  • Investors
  • Civil Society/NGOs

Annual Long-Term Aspirations

Grow
Net Sales by
+3-5%
Expand
EBIT Margin
+25-50
Basis Points
Deliver
Free Cash Flow as
a % of Net Sales
11-13%1

1 Updated in 2018 from 10%-12% to 11%-13% due to the benefits of U.S. tax reform.