Vodafone 2004 Annual Report Download - page 8

Our Goals
At Vodafone, everything we do furthers our desire to create mobile connections for
individuals, businesses and communities. Our Vision is to be the world's mobile
communications leader and we're delighted by the prospects for the future of our
industry.
Our commitment to this industry is underlined by our company values, which state
that everything we do is driven by our passion for customers, our people, results and
the world around us.
The success of our effort requires a commitment to deliver on our six strategic goals:
Provide superior shareholder returns
The continued strength in our financial performance enables us to increase returns to
our shareholders on an ongoing basis. During the past year we have done this through
increasing our dividends and our share purchase programme. In the next 12 months,
we intend to expand this share purchase programme further, buying back shares
worth £3 billion and returning, through our dividends and our share purchases, more
than 50% of the cash we have generated.
By delivering on our goals and conducting rigorous economic and financial analyses
before we make pricing, acquisition and scale decisions, we demonstrate the
discipline to always act in the best interests of our shareholders.
Delight our customers
We have rededicated ourselves to delighting our customers because we believe this
is the foundation for our continued success.
We recognise that every customer interaction provides another opportunity to win
loyalty and that's why we continue to raise standards on the quality of customer care
in our call centres and our stores and the quality of our networks.
Key to delighting our customers is our ability to deliver superior voice and data
services according to differing customer needs. Vodafone live!TM with 3G has been
introduced in four countries in Europe and several more countries will follow in the
next few months. For our business customers, the launch of Vodafone Mobile Connect
3G/GPRS datacard in February has been very successful.
Throughout the past few years, Vodafone has done a terrific job of building brand
awareness as we have moved towards a single global brand. Beyond brand
awareness, we want people to understand that the Vodafone name represents great
service, great value and great innovation. When our name becomes synonymous with
these attributes we will achieve brand preference and expect to see our market share
climb as a result.
Leverage global scale and scope
Another unique advantage for Vodafone is our expansive global footprint. Operating in
26 markets puts us in an enviable position to leverage our global scale and scope. We
are using this advantage to deliver exceptional 3G-based services. When we introduce
3G handsets in large volumes later this year we will be well equipped to drive demand
and attract even higher market share in the 3G world.
Another competitive advantage is our leadership position on cost and time to market.
From network services to sales, and marketing to customer care and billing, we have
many varied systems in use across the business. With strong cooperation between our
various operating companies we can achieve further savings.
Expand market boundaries
Expanding our market boundaries is another priority for Vodafone. We continue to build
productive strategic relationships in the mobile environment. In the productivity areas
we are working with Microsoft and other IT companies. In the content areas, we have
recently taken a big step forward in the music arena through our agreement with Sony
Music.
In our changing industry, opportunities to expand geographically will continue to
present themselves and, if they make sense both strategically and financially,
we will give them serious consideration.
We have just reinforced our long term commitment to Japan by making a further
investment of up to £2.6 billion. Our transactions in Japan will simplify the structure,
confirm our commitment to the Japanese marketplace and enable us to deliver on the
changes needed to improve our position.
Build the best global Vodafone team
As the business expands and the environment around us evolves, it is crucial for us to
develop, recruit and retain the people that will lead us into this new world. We are
working hard to make sure our employees have the right skills and knowledge to
anticipate our customers' needs. We are identifying new ways to share the best of
what we do on a global basis. We continue to reap the benefits of a motivated team
with a strong customer service culture, which will help earn a reputation for Vodafone
that is second to none.
Be a responsible business
As a large, multinational company we inevitably raise expectations amongst all
our stakeholders and hold ourselves up to public scrutiny. Being a responsible
business is about the way we manage our impact on society, the environment and the
economy. We are committed to the highest standards of business integrity and
corporate governance.
Our businesses around the world are important to the infrastructure of the economies
and societies we serve and we take our broader corporate responsibilities seriously.
Through our actions we will continue to strive to earn the trust and confidence of all
our stakeholders worldwide.
Six Goals, One Aim
These six goals are well within our reach. Now it comes down to execution. Country by
country, we have assembled a team of the most capable leaders in the wireless
industry. They are supported by outstanding people who come to work every day
eager and prepared to delight our customers, win market share and produce great
results.
We are in an enviable industry position to succeed by virtue of our scale and scope
and our operating philosophy. We are passionate and excited about our future and we
look forward to sharing our success with you in the years ahead.
Arun Sarin
Chief Executive
Vodafone Group Plc Annual Report 2004
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Chief Executive’s Statement continued