Motorola 1999 Annual Report Download - page 20

Download and view the complete annual report

Please find page 20 of the 1999 Motorola annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 36

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36

19 MOTOROLA, INC.
Our objective is to consistently achieve attractive financial returns by selecting and invest-
ing in a forward-looking business portfolio that provides self-funding revenue growth potential
of 15% or more over the long run. We intend to do this with a strong balance sheet, which gives
us operational and financial flexibility. We have made progress. For example, our net debt/net
debt plus equity ratio improved to 10.1% in 1999 from 26.8% in 1998. Detailed financial results
appear in the 2000 Proxy Statement, which is on our website at www.motorola.com.
Performance Excellence is resulting in significant changes in the way Motorola does busi-
ness. We have challenged the orthodoxies and dogmas of the past. We replaced the
isolated product teams with broad architectures and platform approaches to creating end-
to-end solutions. The business-unit focus has evolved into a market focus and a consumer
focus. Performance Excellence balances our traditional emphasis on financial results with
measures of customer and employee satisfaction, market share and other dynamic indica-
tors. They range from strategic planning, customer and market focus and human resources
to process management and business results. The criteria are used to assess every busi-
ness, identify gaps and fix problems. Management compensation is tied to results.
THE FUTURE As we begin a new century, we are confident that we can continue to improve
on our ability to reach the objectives that create value at an attractive rate for our stock-
holders. We intend to build on what we have done best since the founding of the corporation –
linking people’s dreams with technology’s promise. We intend to listen even more attentively
to those dreams and respond even more creatively. We intend to differentiate, simplify and rein-
vent industries made possible by technology’s promise. We intend to extend human capabilities
as we harness the power of wireless, broadband and the Internet to deliver end-to-end network,
embedded and chip-based solutions for the individual, the workteam, the vehicle and the home.
Christopher B. Galvin Robert L. Growney
Chairman of the Board and Chief Executive Officer President and Chief Operating Officer