Strategy & Values

Strategy & Values

Strategy – how will we get there?

Simply put, a strategy is the roadmap to a destination and describes the sustained allocation of a company’s resources. A clear strategy statement is important since it gives businesses and people clear direction on not only what will be focused on, but also what will not. This can be important especially if a strategy is changing for a business. A decade ago Merz was heavily focused on Alzheimer’s disease, but also had interests in the dental market and tinnitus R&D. The new strategy has helped in focusing away from these higher risk and lower profitability areas into the core business areas of Aesthetics and Neurotoxins. These are common for all Merz affiliates worldwide.

Quality, ethics and excellence are at the heart of what we do.

Values - the way we do things around here

Merz Pharma UK has three clear corporate values:

Persist In Innovation

INNOVATION IS THE LIFEBLOOD OF MERZ & THE KEY TO OUR FUTURE GROWTH

We will empower, support considered risk-taking & encourage personal accountability as we try new ideas.  Not every new thing will work, but we will keep trying and learning until we discover the things that do.  We aspire for excellence & genuine daily progress to be our norms as we strive to deliver real innovations that help others to ‘Live better, Feel better and Look better’.

• Simply doing what we have always done is not the way to create innovation.  We should be prepared to challenge the norm.

• Setbacks are part of the learning and growing process.  It is our resilience and how we respond to these setbacks that define us and set us apart from our competitors.

Commit To Customers & Colleagues

WE INVEST IN LASTING RELATIONSHIPS THAT ARE BUILT ON TRUST, RESPECT & INTEGRITY

Communication and understanding are key to commitment.  We will be honest, open and straight-talking as we exchange feedback with our customers, colleagues and suppliers and so build lasting relationships where all parties are peers.  We believe that when we are passionate about our work, take pride in our achievements & celebrate success with our partners, business can be both personal and industry-leading.

• Dialogue is important in ensuring clear understanding.  Face-to-face is ideal (followed by telephone and then email).

• There should be no hierarchy in business relationships and we should adopt a mind-set where we understand that we are as valuable to our customers as they are to us.  True partnership is between equals.

Deliver Trusted Results

OUR PROMISES, WORK & RESULTS WILL BE TRUSTED FOR YEARS TO COME

Merz’ century-long heritage and commitment to partners serve to reinforce our long-term perspective as an independent company.  Quality, ethics and excellence are at the heart of what we do, patients really matter and we will always be honest.  When we make a promise to a partner we WILL deliver.

• As a private company we can make long term investment decisions without the pressure of investors seeking a short-term result.

• We will work on relationships that may not deliver tangible results for some time but through making those investments now we are building a stable and sustainable platform for profitable future growth.

• Key to delivering on promises is working hard to ensure we are honest and realistic in setting expectations and we should avoid seeking to please by overpromising

Our values are an integral part of who we are as an organisation and are used in our recruitment and annual review process.

Operating Norms

To further guide how Merz employees work together a series of Operating Norms have been defined and rolled-out globally. These recognise some of the challenges that impact large businesses (and can slow them down). Part of Merz’ competitive edge relies on our size. By using our scale we can be more nimble and agile than our competitors and gain advantage where opportunities arise:

– Assume Positive Intent. Our culture is essentially apolitical and therefore we should adopt the default position of assuming our colleagues’ intentions are positive in whatever they do. This will help to foster trust and cooperative working.

– Collaborate cross functionally. Multidisciplinary teams are always more effective than individuals. Breaking down silos to engage with colleagues from different functions WILL increase our effectiveness.

– Obligation to engage. Only when we engage with each other (and with customers and suppliers) can we make things happen.