Porsche 2003 Annual Report Download - page 9

5
Outstanding products and services are without doubt a central
requirement for a successful business, but not enough on
their own: one must also be able to sell the products at prices
that are competitive internationally. To do this, lean structures,
efficient processes and consistently low fixed costs are
needed. Otherwise the company runs the risk of losing its
way when the market becomes turbulent.
We have implemented a continuous improvement process
throughout the group, which involves constantly examining
every aspect of our internal procedures and structures.
Keeping the company lean and responsive, recognizing and
grasping opportunities for reducing costs and further in-
creasing productivity through greater efficiency, as well as
increasing our R &D and marketing effectiveness – these
are goals that we at Porsche keep firmly in our sights. They
are extremely ambitious, but we will not stop when we have
reached them; we will simply raise the benchmark even higher.
We are aware that our lofty ambitions for products, processes
and customer satisfaction can only be achieved with the
support of a high quality and well-motivated team. Here at
Porsche, we have such a team – and we believe that they
should share in the success of the company by means of
special bonus payments.
It is our firm conviction that companies seeking to be success-
ful in the long term have to create trust and identity. This
means establishing an environment in which our employees
(but also our customers and shareholders) feel that they be-
long. This can only be achieved if we project a positive image
based on the credibility of our daily actions and reflected in
broad social acceptance of the brand, the company, and its
products. At Porsche, we believe we have such an image –
the result not only of our clearly defined model policy but also
of our socio-political positioning. Porsche has always pre-
sented itself unambiguously as a German-based company,
which means that it creates jobs in Germany and pays its taxes
here – not always a matter of course in these times.
Today, Porsche’s corporate profile is more clearly defined
than ever before. The company continues to create goodwill
not only by restating its socio-political policies in clear terms
but also by acting in accordance with these policies. Our
brand name has come to epitomize the fascination of driving a
sports car. The Porsche brand stands for power and dynamics,
for state-of-the-art technology, for German engineering and
for unique styling. We have done what is necessary to ensure
that we stay on course while at the same time remaining
highly profitable. Building on the tried and tested cornerstones
of our strategy, we will do everything in our power to ensure
that our customers, employees, business partners, and
shareholders can fully identify with the future development
of our company.
Dr. Wendelin Wiedeking
President and Chief Executive Officer