The Philips Structure. The Philips Story

The Philips Structure

At the top of the company hierarchy there is the President who oversees all aspects of the activities.

The company is managed by the Board of Management, which looks after the general direction and long-term strategy of the Philips group as a whole. In other words, it is in charge of company strategy and general policy.

The Supervisory Board is responsible for the general course of business. It makes sure policy is implemented and advises the board of management. TheSupervisory Boardnot only monitors the general course of business of the Philips group, but it also advises the Board of Management and supervises its policies.

These policies are implemented by the Group Management Committee, which consists of the members of the Board of Management, chairmen of most of the product divisions and some other key officers. The Group Management Committee also serves to ensure that business issues and practices are shared across the various activities in the group.

The Philips Story

The foundations of the world’s biggest electronics company were laid in 1891 when Gerard Philips established a company in Eindhoven, the Netherlands, to manufacture light bulbs and other electrical products. In the beginning, it concentrated on making carbon-filament lamps and by the turn of the century was one of the largest producers in Europe. Developments in new lighting technologies fuelled a steady programme of expansion and, in 1914 it established a research laboratory to stimulate product innovation.

In the 1920s, Philips decided to protect its innovations in X-ray radiation and radio reception with patents. This marked the beginning of the diversification of its product range. Since then, Philips has continued to develop new and exciting product ideas like the compact disc, which it launched in 1983. Other interesting landmarks include the production of Philips' 100-millionth TV set in 1984 and 250-millionth electric shaver in 1989.

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