Barco has been a global technology leader for decades. We are active in markets with solid foundations, where we offer mission-critical solutions. In order to optimally seize all the market opportunities ahead and further strengthen our leading role in our markets, we are exploiting our strengths to the fullest.
To achieve that aim, we set several short- and mid-term strategic objectives:
- further finetune our organization into 6 business units (BUs) in order to step up accountability, entrepreneurship, and customer intimacy;
- increase operational effectiveness through digital transformation and standardization;
- grasp our market potential by broadening our geographic coverage with a focus on China and developing adjacent markets.
Assessment
Overall, we score between 2 and 3 out of 4 on the focus areas that support the ‘Capture profitable and efficient growth’ lever. In 2023, we further simplified our organization to boost effectiveness and took key steps in our digital transformation. While the markets in China were soft, we strengthened our manufacturing footprint, preparing our two new production plants there to deliver as soon as the recovery takes off. When it comes to ‘developing new market segments’, several initiatives have been taken and new products launched, with plenty of potential remaining.
