Graco 2006 Annual Report Download - page 6

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In 2006, we laid out a new vision
for Newell Rubbermaid – to be a
global company of Brands That
MatterTM and great people, known
for best-in-class results. This simple
statement has become our guiding
light as we transform our business
model, strategy and culture to
achieve sustainable excellence.
What you see today is truly a new Newell Rubbermaid.
We have moved away from the old business model
which embraced company-owned manufacturing in
high-cost countries and fiercely independent business
units, driven by the requests of retailers. The new
business model is centered around investing in
consumer understanding, innovation and successful
commercialization to create Brands That Matter,
TM
achieving best cost manufacturing and sourcing, and
leveraging the benefits of operating as one company.
Building the company’s consumer-driven branding
capabilities is critical to our success and is one of
our key transformational strategies. To help develop
this expertise, we partnered with a leading global
advertising agency to help assess
our top brands, field consumer and
brand research and identify the
training, development and hiring
needs necessary to build a top-tier
consumer branding company. In
the years ahead, we will steadily
increase our investment in consumer
understanding and demand creation
and integrate these insights into our product development,
brand strategy and business planning processes.
Keep in mind, the evolution into best-in-class
consumer driven branding will not happen overnight.
We have only taken the initial steps. It will take
several years to develop our capabilities and begin
to realize our full potential. The good news is we are
making steady progress and will realize business
building benefits every year along the way.
Thanks to the resiliency and hard work of the men
and women of Newell Rubbermaid, 2006 was a
watershed year. We demonstrated the ability to exceed
all current year commitments while launching several
major initiatives that will build long-term capability
The new business model
is centered around investing
in consumer understanding,
innovation and successful
commercialization to create
Brands That Matter.
TM
In 2006, we laid out a new vision for Newell Rubbermaid – to
be a global company of Brands That MatterTM and great people,
known for best-in-class results.
Dear Fellow Shareholders,
04