Today we visited Sandvik, which is a world-leading high-technology engineering group. Sandvik was founded in 1862 in Sandviken, Sweden. The strategy for the company is to be number one through ambition, speed, focus, and globalize. The majority of their branches are located in Europe with 34% and only 18% in the United States. Sandvik has five sections; construction, machining solutions, materials technology, mining, and venture.
What is Sandvik mission?
Sandvik’s vision is to make it possible for industries world wide to improve their productivity. They hope to achieve this goal by producing quality manufacturing products to make productivity and efficiency better.
Who is Sandvik’s customer?
Sandvik customers produce products for different industries. The industries include mining, engineering, automobile, and aerospace.
What does their customer value?
Sandvik’s customers value the quality that they produce. The customers also appreciate Sandvik’s values as a company. Sandvik’s values are to be open-minded, have team spirit, and fair play. These values make the company Sandvik is today and make them a desirable company.
What are Sandvik results?
Sandvik has seen a lot of success over its 150 years. They have sales at $15 billion and return on capital employment at 19.8%. Sandvik’s number of production units is 180 worldwide and they have 49,000 employees worldwide. Sandvik has only seen a decrease in profit during the recession in 2008 and in the year of 2001 due to terrorist attack on 9/11.
What is Sandvik plan?
Sandvik has a couple of plans for the future success of the company. They want to merge markets globally, increase wealth and energy consumption, create shorter product life cycles for customers and expand to the east and west of Europe.
Overall I thought that Sandvik had a very interesting tour. The tour was the most thorough one I have been on so far. I did not know much going in but I was able to actually fully understand what they did. I also gained an appreciation for what they do because they contribute to many different industries that are involved in our every day lives.
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