During the six-year strategy period, KONE’s ambition is to lead the industry. This means leadership in three areas: number 1 choice for our employees and customers, lead in innovation and sustainability, and lead in growth and profitability.
To reach this ambition, KONE has defined four strategic shifts:
1) Accelerate digital to fundamentally transform how KONE does service;
2) Drive modernization to unleash growth opportunities;
3) Win residential to lead in the industry’s largest segment; and
4) Cut carbon to drive customer value and differentiation.
At the core of our strategy are people, and KONE wants to be the easiest company to work for and to work with.
As we enter a new strategy period, we continue to be guided by our values of courage, care, customer and collaboration. This is also our opportunity to fulfill our purpose ‘We shape the future of cities’.
Our four strategic shifts
Accelerate Digital
Digitalization is redefining our industry, and the pace of change will only increase.
We fundamentally transform how we do service. Connectivity and data are key enablers and the new norm for us. We provide our customers with more value through digital solutions that enable real-time information, immediate responses and transparency, along with safety and better equipment uptime. Our technicians deliver services smarter using digital tools.
Drive Modernization
Aging equipment and evolving customer needs boost the modernization opportunity around us. There are close to 10 million elevators and escalators ripe for modernization globally, and the number is growing fast. At the same time, our customers are looking for sustainable solutions that also improve user experience, safety, and accessibility.
We see the opportunity to drive modernization as big as we make it. We differentiate with clear customer value in safety, energy efficiency, lower emissions, and digitalization, and we strive for scale and speed through industrialization.
Win Residential
The residential segment accounts for over 50% of the global elevator and escalator market, and there is a strong customer demand for cost-effective solutions amongst our residential customers.
We will win in residential through our affordable, fit-for-purpose offering, coupled with the right service capabilities to meet the specific needs of our residential customers. We will also focus on selling and delivering efficiently.
Cut Carbon
The built environment accounts for approximately 40% of global carbon emissions and our customers are seeking ways to cut emissions related to construction and building operations.
We will help our customers decarbonize while reducing our own carbon footprint. We will further improve the energy efficiency of our elevators and escalators with our technologies and solutions, as well as strengthen organizational capabilities to speed up decarbonization.
Strengthening our core
In addition to these four strategic shifts, we are strengthening our core, where our people have a crucial role in how we work together with our customers. With improved processes and courage, speed, and simplicity, we want to be the easiest company to work for and work with.
