BT 2016 Annual Report Download - page 19

21
Our purpose
Our purpose is to use the power of communications
to make a better world.
We’re here to meet the needs of our customers, delivering the
experience, products and services that matter to them. Millions
of individuals connect through us to their friends and family, and
have huge amounts of information and entertainment at their
fingertips. The smallest companies, right through to multinational
corporations, use our services every day to conduct their business.
Many public services rely on our technologies. And in the UK,
most of the telecoms industry operates across our networks –
we help more than 500 other communications providers to serve
their customers.
Our success as a business depends on delivering value to all our
customers. We try to think ahead, anticipate what they want and
develop products, services and an overall experience that meet
their needs, whether as individuals or as businesses.
Our services are vital to our customers and their communities.
We look for ways of using and developing those services to deliver
economic growth and wider societal benefits. To bring our purpose
to life, we’ve set a number of challenging long-term ambitions
that make a positive impact on the societies, communities and
environment we operate in (page 45).
By creating value for our customers and society, we grow
our business and reward our shareholders for investing in us.
Our goal
Our goal is to deliver sustainable profitable
revenue growth.
In previous years, we relied on cost transformation to oset
declining revenues, so that we could grow our cash ows and the
value of our business. This year, we grew our revenue, driven by
the investments we’ve been making.
In the years ahead, we expect profitable revenue growth,
combined with continued transformation of our costs, to provide
a platform for long‑term and sustainable cash ow growth.
We’ll reinvest some of the cash we generate back into the business,
to help us to grow over the long term. A virtuous circle. And we’ll
also use it to pay dividends to our shareholders and reward other
stakeholders.
Our strategy
Our strategy is founded on broadening and deepening
our customer relationships.
To deliver sustainable profitable revenue growth, we need stronger
relationships with our customers. That means making sure we stay
relevant to them as markets, lifestyles and technologies change.
The three pillars of our strategy help us do that: delivering superior
customer service; transforming our costs; and investing for growth.
The better our customer service, the more we’ll sell and the less
time and money we’ll spend putting things right. And the better
we manage our costs, the better value for money we can oer
our customers and the more we can invest in giving customers
what they need ‑ today and tomorrow. These are the principles
that drive our business model (page 28).
28 Our business model
on page 28
Overview The Strategic Report Governance Financial statements Additional information
Deliversuperior
customer service
Broaden and deepen our customer relationships
A growing BT: to deliver sustainable profitable revenue growth
To use the power of communications to make a better world
A healthy organisation
Fibre TV and
content
UK business
markets
Mobility
and future
voice
Leading
global
companies
Invest for
growth
Transform
our costs
Our strategy
Our culture
Our goal
Our purpose
The diagram below shows our strategy in the year and how it supports our goal and purpose.
It sits at the centre of our business model.
For 2016/17 our strategy is evolving. The three pillars remain broadly the same but with a wider focus on the overall customer experience
rather than just on customer service. And with the acquisition of EE our investment areas are evolving to focus on having the best
integrated network in the UK and being a fully converged service provider.