Fortune Magazine Ranks STMicroelectronics Among "The 10 Great Companies in Europe" to Work For.Business Editors GENEVA--(BUSINESS WIRE)--Jan. 29, 2002 The Winning Formula: ST Employees Love Their Challenging and Stimulating Workplace STMicroelectronics (NYSE NYSE See: New York Stock Exchange : STM (Scanning Tunneling Microscope) A microscope that can image down to the atomic level. An STM uses a piezoelectric tube with a tiny sharp tip at the end that is moved within nanometers of the object being sampled. ) announced it has been named one of the "10 Great Companies in Europe"* to work for by Fortune Magazine, in the February 4th issue which just went on sale on news stands. Fortune has published annual lists of the "100 Best Companies to Work For in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. " for the past five years. This year marks the first time any publication has looked across Europe to appraise appraise v. to professionally evaluate the value of property including real estate, jewelry, antique furniture, securities, or in certain cases the loss of value (or cost of replacement) due to damage. companies as workplaces. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. authors Milton Moskowitz and Robert Levering: "We canvassed a wide range of people in the U.S. and Europe, but especially in Europe. We put the question `Which are the great workplaces in Europe?' to journalists, securities analysts, business school professors, consultants and social-investment researchers. We also consulted surveys of European university students that asked which companies they would like to work for. As we went from city to city, we asked a wide range of people, including employees, which firms they would recommend. We ended up with a list of 75 candidates. After analyzing these companies and asking people in each country to rate the candidates, we narrowed our selection to 13 companies." The Fortune survey team visited and conducted interviews with employees at each of the 13 companies. For ST, they met with more than two dozen employees working at various levels and positions, at ST's facility in Agrate, Italy, which is representative of its 18 main manufacturing sites around the world of which close to ten in Europe. "In the end, these interviews were the crucial factor in our final selection of 10 companies (listed in no particular order)," the authors pointed out. "We followed the same rule we do in the U.S., even though no formal surveys were conducted: For a company to make the grade, it must have employees who tell us they love to work there." "In less than 15 years, ST has risen to become one of the top five chipmakers in the world and we could not have achieved that without a dynamic, talented and motivated workforce," pointed out Alain Dutheil, ST's Corporate Vice-President for Strategic Planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. and Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. . "Our people are motivated by a challenging and stimulating environment and they are the key to our success. We are proud to be on the Fortune list of `great companies' and, even more, we are proud of our employees who played a fundamental role in the Company's outstanding performance throughout the world." The profile by Fortune reflects ST's commitment to Total Quality and Environmental Management (TQEM TQEM Total Quality Environmental Management - see Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. ). A cornerstone of ST's corporate philosophy, TQEM is strongly focused on individual development through employee empowerment. ST has won numerous awards for its efforts in this field, including the European Quality Award The European Quality Award is now referred to as the EFQM Excellence Award. This distinction is awarded annually by the European Foundation for Quality Management to the organisation that is the best proponent in Europe of Total Quality Management. and the Malcolm Baldrige National Quality Award The Malcolm Baldrige National Quality Award is given by the United States National Institute of Standards and Technology. Through the actions of the National Productivity Advisory Committee chaired by Jack Grayson, it was established by the Malcolm Baldrige National Quality , the highest level of national recognition for quality available to companies in the U.S. In 2001, ST was also ranked in the top 3 among "the world's most competitive companies" in a study of 300 global firms by INSEAD INSEAD Institut Européen d'Administration des Affaires (European Institute for Business Administration; now know simply as INSEAD) INSEAD I Never Stop Eating And Drinking business school professor Jean-Claude Larreche. According to recent data for the 2001 semiconductor market, ST was ranked at number three, four and five, respectively, by independent market analysts Gartner Dataquest, Pathfinder and IC Insights. About STMicroelectronics STMicroelectronics is the world's third largest independent semiconductor company. The Company's shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , on Euronext Paris and on the Milan Stock Exchange Milan Stock Exchange The largest regional stock exchange in Italy, facilitating more than 90% of the country's trading volume. . The Company designs, develops, manufactures and markets a broad range of semiconductor integrated circuits (ICs) and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. In 2001, the Company's net revenues were $6.4 billion and net earnings were $600.8 million. Further information on ST can be found at www.st.com. EDITOR'S NOTE: STMicroelectronics - The Guiding Principles: Customer Satisfaction: the key to competitive success is Total Customer Satisfaction. We will listen to the voice of the customers and strive to anticipate and fulfill their needs and expectations; our future relies on strong partnerships, which we can ensure if each one of us does his/her best to provide world-class Service, Quality, Time to Market and Value. Business Integrity: we will conduct our business with the highest ethical standards in dealing with each of our stakeholder communities. We will dedicate ourselves to honoring our commitments, delivering on our promises, being loyal and fair, and standing up for what is right. People: we will behave with openness, trust, simplicity and humility; we will be ready to share what we know, encourage everyone's contribution and recognize achievements; we will emphasize job enrichment and personal realization through empowerment, teamwork and training. Each one of us will be loyal, hardworking, committed and personally involved in the continuous improvement and learning process. Excellence: the only "status-quo" we will accept is one of permanent change and continuous challenge, always for the better. In all aspects of our activities, we will strive for excellence, quality, competency and efficiency. We will be flexible and nimble, and we will encourage innovation and creativity in every aspect of our activities. Profitability: the profit we generate from our activities is the main source of the funds we need to prosper and grow. Profit is necessary to provide security and future opportunities for each of us, and to allow the company to meet its other social and business responsibilities. * According to Fortune, the "10 Great Companies in Europe" in addition to STMicroelectronics are: Novo Nordisk, Skandia, Morgan Stanley, ING Group, Porsche, L'Oreal, Nokia, San Raffaele hospital and Pret a Manger Pret A Manger (French for "Ready to Eat") (informally "Pret") is a UK sandwich retailer. As of January 2007, some stores are being rebranded to just "Pret". The company was founded in London in 1986 by friends Sinclair Beecham and Julian Metcalfe who met while studying property law . |
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