Whirlpool 2010 Annual Report Download - page 13

Download and view the complete annual report

Please find page 13 of the 2010 Whirlpool 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 52

  • 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
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52

Our innovation pipeline is rich with ideas, producing $3.6 billion in innovation
revenue during 2010 despite a challenging global economic environment. While
such results are remarkable and significant, the success of embedded innovation
goes well beyond added revenues. The true measure of this vast accomplishment
lies in the structure of the process itself.
In 2011, we are reinvigorating our innovation efforts, tapping our entire global
organization to bring new innovations forward, from everyone, everywhere.
At Whirlpool Corporation, our culture of innovation enables us to deliver real,
sustainable value to families in ways never before seen in either the company or
the home appliance industry. Just as Emory Upton put an electric motor on his
nephew’s hand-operated washer, Whirlpool Corporation continues to uncover new
ways to transform home and family life, providing timely, relevant solutions that
excite our shareholders, consumers and employees.
2010
An affordable, entry-level wash station innovation
in India.
“We’ve made significant progress in terms of cost and quality, but even becoming the best in the
world on both counts would provide Whirlpool only a platform for survival, nothing more. Absent
innovation and value, home appliances built from such a base will be viewed by customers as
commodities.
“To thrive and create shareholder value, Whirlpool must differentiate itself and its products from
competitors and their products. How? By understanding better than anyone in the industry the
present and future needs of consumers and trade customers. We believe that our research in those
areas is the most exhaustive in the home-appliance industry.”
— Excerpt taken from the 1993 Letter to Shareholders
signed by David R. Whitwam, Former Chairman of the Board and Chief Executive Officer
11