Business Strategy & Fundamentals
|Five Strategic Principles, Creating a Strong Foundation for Sustainable Growth...
As a "formula for growth," these Five Strategic Principles are guiding Myers Industries to be a top-performing diversified industrial company.
The graphic at the right represents that as we further sharpen our focus and develop our key Innovation, Operations Excellence and Organization Development principles, we deliver higher Customer Dedication and Financial Strength.
The end result: a Myers Industries capable of consistently higher earnings and returns for all stakeholders.
Confidence in a Strong Foundation
|Each principle has fundamental areas of focus for our business strategy:
- Building business processes for a "Voice of the Customer" approach to delivering solutions
- Maintaining brand leadership through product offering, quality and dependable service
- Investing in new products for attractive market segments where our capabilities make us the leader
- Fostering a disciplined innovation process across our businesses for continuous new products
- Establishing and maintaining the highest standards of safety and productivity throughout our operations
- Ensuring continuous quality, service and productivity improvements, including sharing of best practices
- Seeking and retaining the best talent in our industries to advance our growth strategy
- Creating succession processes throughout the organization and developing a professional talent pipeline
- Maintaining a "ready" Balance Sheet and strong Cash Flow to act on growth opportunities
- Ensuring a strong financial organization, with solid control processes and reporting transparency
- Building decision-making tools to mitigate risks from business cycles and other factors
- Focusing on ROIC, Gross Margin, EPS and Operating Cash Flow growth to drive value and returns
This strategy is delivering results and is better-positioning the Company in higher-value end markets, growing geographies and mitigating risks in economic cycles. Our foundation – and our formula for growth – is solid.
The above contains forward-looking statements. These statements are subject to various risks and uncertainties, some of which are outside the Company's control, that could cause actual results to differ materially from those forward-looking statements. See our Risk Factors link to learn more. Myers Industries does not assume any obligation to update these forward-looking statements.