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Standard Life plc - Annual Report and Accounts 2007
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Objectives and strategy

Our corporate purpose: To generate sustainable, high-quality returns for our shareholders; Our mission:To build valuable customer relationships by helping customers grow and protect their assets; Our vision: We will help customers around the world feel confident about their future wealth and wellbeingOur aim is to create a leading asset managing business which builds valuable relationships with our customers around the world. We aim to provide leading service and compelling propositions which help customers to build and protect their assets so that they feel confident about their future wealth and wellbeing. We strive to develop and challenge our people so that we can continue to deliver against our strategic objectives and to adopt a global outlook and mindset in what we do. Our strategic objectives and how we performed against them are illustrated on the following pages.

In October 2007 we announced that we were in negotiations to acquire Resolution plc as we believed the proposal had strong commercial logic and would offer significant financial and operational synergies. However when it became clear that market conditions and the asking price meant that a revised offer would not have created sufficient value for our shareholders, we withdrew from these negotiations. We remain focused on executing organic growth, building on our market leading positions and delivering strong financial results for our shareholders.

Further detail discussing how our businesses performed can be found in the business segment performance section.

Our strategic objectives and ultimately our ability to generate value for our shareholders may be subject to financial risks such as insurance, credit, market and liquidity risk and non-financial risks such as operational risk.

Our risk management approach is to focus on identifying these events and managing them within identified parameters. Principal risks and our risk management approach are discussed in more detail in the risk management section of the business review.

 

Create capital efficient innovative solutions Open new routes to markets Leverage investment management expertise and performance Drive for operational excellence

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