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9 Smiths Group plc Annual Report 2011Group overviewChairman and Chief ExecutiveOperating and financial reviewRisks and responsibilityGovernanceAccounts- sets the strategic framework and culture for the Group as a whole- ensures the divisional strategies are aligned to Group strategy- agrees annual divisional budgets- regularly reviews and challenges divisional performance- approves and allocates capital for significant investments such as acquisitions, and supports their implementation, for example through monitoring, due diligence and integration- ensures the right business systems and processes are in place across the Group, so decisions are made efficiently based on high-quality data- reviews the Group's structure and considers opportunities to create value through portfolio management- meets the requirements of a listed company and sets the governance and risk management framework for the Group.Get close to customersOur business is centred on strong relationships and a high degree of customer intimacy. Getting close to our customers enables us to anticipate their specific needs. This helps us to keep our customers for the long term.Consider acquisitions and disposalsWe buy businesses that add complementary technologies and products, that expand our geographical footprint, particularly in emerging markets, or that allow us to leverage our existing scale and infrastructure.Acquisitions must also support our sales growth and margin targets and deliver strong cash-flow. Our primary focus is on returns, however, and we typically look for a 12% post-tax return on investment by the third year of ownership. We also look to dispose of businesses that offer less attractive returns.Aftermarket service and consumablesMany of our businesses provide a high level of after-sales service. We also sell significant quantities of single-use consumables. These activities help us to retain customer loyalty, improve our understanding of how our products perform over their lifetime and increase our resilience throughout the economic cycle.Manufacture products efficientlyThe majority of the manufacturing process is in small-batch assembly, much of which is made to meet specific customer orders. This makes us capital-light and flexible. Where appropriate, we have established production facilities in lower-cost countries, such as Mexico, China, India, the Czech Republic, Costa Rica and Tunisia.48Enjoy complete peace of mind with our 30 day Money Back GuaranteeNEWBlue Mini Vacuum CleanerDon't struggle getting the vac out for small dirt orcrumb spillages - let the Mini Vacuum Cleaner dothe job! It's lightweight, easy to use and takes upvery little space in your cupboard. Requires 2 x AA batteries (not included). Size approx: L24 x W7 x D6cm (91?2x 23?4x 21?2").Code 087912-62£8.95BATTERY OPERATEDDust Mite StopperEasy to use. Helps to kill dust mites in carpets, mattresses, bedding and other textiles. No odour. Helps to prevent the return of dust mites. 500ml.Code 070300-62£9.95£19.90 per litreLONG TERMEFFICIENCYNO ODOURCAN ALSOBE USED ONMATTRESSES AND BEDDINGForprotectionagainstdust mitesWASHABLE DUST FILTER4-STAR FILTER SYSTEMWASHABLE HEPA FILTERVERY LIGHT ANDCONVENIENTBestSellerMini Cyclone Vacuum CleanerEvery proud home should have one of these compact yetpowerful vacuums. So effortless to use and light to carry, itmakes cleaning seem less of a chore. Will vacuum just aboutANYWHERE you need doing, including stairs, settees, underfurniture and more. It will come in handy for giving your car agood valet too - it will suck up dirt, crumbs and dust in notime. Featuring a foldable handle, the compact cleaner is notrouble to store. Includes accessories for cleaning crevices andother tricky to reach places. Washable HEPA filter and dustfilter. 0.3L dust filter capacity. 500W motor. Size of unit: H11 x W25 x D18cm (41?2x 10 x 7"), hose: L70cm (271?2"), cord: L4.3m (14ft). Code 024821-62£45.002 x AA BatteriesCode 089990-62 £3.00The Mini Cyclone VacuumA lightweight cleaner that packs a punch!Mini vacuumcleaner