Business Model

The Smiths Way is how we do things

It starts with the core characteristics that define our business and the values that guide how we behave.

It encompasses our shared operating model, focused on excellence, innovation, and consistent execution.

As a globally aligned organisation we are committed to doing business responsibly, generating value for all our stakeholders.

The core characteristics that define our business

We actively manage our portfolio of businesses to ensure they are targeted in growing markets where we can sustainably achieve a top three leadership position. Our businesses share the same characteristics, which embody how we create value.

Our shared culture and values
We are united by our shared culture and values

Our values are more than just words, we use them to guide every decision and action as we work to make Smiths one of the world's leading technology companies.

Integrity, Respect, Ownership, Customer Focus, Passion

The Smiths Way

Achieving world-class competitiveness through excellence and innovation

The Smiths Excellence System (SES) is our shared operating model. It helps us apply best practice across the Group to drive speed and efficiency. We work to ensure consistent execution and a culture of continuous improvement.
Our people are critical to our success. We work to attract, retain, engage, develop and inspire the best people.
We partner with our customers to shape product innovation and technology development. Deep market knowledge enables us to achieve a high degree of customer intimacy, allowing us to anticipate their specific needs.
We build strong, strategic supplier relationships to deliver quality, efficiency and flexibility. This enables us to meet the expectations of our customers.
We work to drive consistent and flawless execution. Many of our businesses provide a high level of aftermarket service generating customer loyalty, understanding of our product performance and increased resilience throughout the cycle.
We work to continuously improve our production processes to enhance safety and increase efficiency and quality. Much of our manufacturing is small-batch and made to meet specific customer orders, which helps us to be asset-light and flexible.
We are at the forefront of technology and develop products that meet our customers’ evolving needs. We bring innovative, differentiated to market quickly.
Our shared operating model
Drives smarter and faster new product development and commercialisation
Creating wider value for our stakeholders
  • Attracting and retaining the best talent

  • Products and services that go beyond customer expectations

  • Operating responsibly which includes health and safety, environment and ethics

  • Sustainable returns to shareholders