Honeywell 2011 Annual Report Download - page 32

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•Achieving sales growth, technological excellence and manufacturing capability and capacity through global expansion, especially focused on
emerging regions in China, India, the Middle East and other high growth regions;
•Proactively managing raw material costs through formula and long term supply agreements, price increases and hedging activities, where
feasible;
•Driving cash flow conversion through effective working capital management and capital investment in our businesses, thereby enhancing
liquidity, repayment of debt, strategic acquisitions, and the ability to return value to shareholders;
•Maintaining a flexible cost structure to ensure our ability to proactively respond to trends in short-cycle end markets such as the Transportation
Systems Turbo business, ACS Energy, Safety & Security businesses, Aerospace commercial after-market and Performance Materials and
Technologies Advanced Materials business;
• Aligning and prioritizing investments in long-term growth considering short-term demand volatility;
• Driving productivity savings through execution of repositioning actions;
• Controlling discretionary spending levels with focus on non-customer related costs;
•Utilizing our enablers Honeywell Operating System (HOS), Functional Transformation and Velocity Product Development (VPD) to drive
margin expansion by standardizing the way we work, reducing cycle time, optimizing effectiveness of R&D, increasing quality and reducing the
costs of product manufacturing, reducing costs and enhancing the quality of our administrative functions and improving business operations
through investments in systems and process improvements;
•Monitoring both suppliers and customers for signs of liquidity constraints, limiting exposure to any resulting inability to meet delivery
commitments or pay amounts due, and identifying alternate sources of supply as necessary; and
•Controlling Corporate costs, including costs incurred for asbestos and environmental matters, pension and other post-retirement expenses and tax
expense. 29