Merck 2008 Annual Report Download - page 11
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6| Merck Annual Report 2008
As a supplier to the display industry, we are the global market and technology
leader in liquid crystals used in mobile phones, navigation devices, laptops
and flat-screen televisions.
In addition, we also operate in mature market segments with very stable
businesses – ranging from classic pharmaceuticals to active ingredients and
laboratory chemicals.
We therefore see ourselves well equipped to withstand the current economic
crisis based on our own strengths. In fact, we can even use the situation in
order to grow and to strengthen our competitive position.
… and a strong management culture ...
In order to sustain success, it is necessary to have a company management
based on a common set of values and mutual trust. The stronger these factors
are and the more solidly a company’s culture is founded on shared values,
the less the need for central control mechanisms and bureaucracy.
Around the world, 32,800 people from 117 countries work for Merck. Our values
are the bond that exists between the company and its employees, spanning
different cultural backgrounds. These values give us the freedom to run our
businesses in an entrepreneurial way and to shape – as opposed to merely
administering – the future of our company. Decentralized entrepreneurial
responsibility is therefore essential for us in order to understand markets
and reach customers.
Also on behalf of my colleagues on the Executive Board, I thank all employ-
ees for their untiring and strong commitment to our company – especially
during difficult times. I would like to take this opportunity to also thank
Walter W. Zywottek, who retired from the Executive Board in mid-2008.
He spent 40 successful years working for Merck and made outstanding contri-
butions to the company thanks to his energy and competence.