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Shillington College Portfolio magazine
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2013 //PORTFOLIO 3
THANKS
T H A N K Y O UF o r t a k i n g t h e t i m e t o l o o k a t m y p o r t f o l i o
My Name Is James Douthwaite.
I am a recent graduate from
Shillington College and have
loved every moment of it!
In each project I tried to create
something new within the brief. I’m hoping
my personality has come through in each
of these projects, and that you will see
how much I have enjoyed making them.
So please enjoy looking at my work.
PORTFOLIO// 20134
VOLARE
VolareThis project was one of my favourites as a brand roll–out. The idea was based on a kite (An international symbol of flight). The brief stated that no specific culture should be added to the brand. With this in mind, I started sketching out ideas and creating mind maps to get my main ideas down. I came up with the final idea, colour scheme and brand roll–out.
PORTFOLIO// 20136
CISCO REPORT
TOGETHER WE ARE THE HUMAN NETWORKCSR REPORT HIGHLIGHTS
Cisco is engaging the power of the human
network to transform societies, create a thriving
employee experience, govern our business,
develop products responsibly, and protect
the environment.
For more than two decades, Cisco’s vision has been to change the way the world works, lives, plays and learns.
Core to that idea is introducing the same rigor in our corporate social responsibility (CSR) efforts as we do in our business operations. This means applying our technologies, partnerships, and business acumen to build a better business and a better world.By working together with public and private partners, we can tackle challenges that no single organization could solve alone. Together we help create a more economically, environmentally, and socially sustainable world for our business and global communities.Cisco’s approach to CSR is holistic, encompassing initiatives in five areas: governance and ethics, the value chain, our employees, society, and the environment.
GOVERNANCEManaging together
Our CSR philosophy and initiatives are integral to Cisco’s everyday business operations. We follo-CSR into our business, an approach that involves continuous reporting to our stakeholders.
We regularly solicit feedback from people affected by our business or those who influence our reputation, working to understand what’s most important to them. Their feedback helps us prioritize our efforts. Our employees are also core to this process. They understand that our social and environmental performance supports our business goals, and we rely heavily on their passion and determination to meet our CSR targets. In turn, their ethical behaviour sets the tone for those we work with outside of Cisco.
We measure our performance by monitoring progress throughout the year, tracking against our goals, reporting regularly to our stakeholders, and encouraging their feedback.
CSR REPORT HIGHLIGHTS 2013
$138.7mTotal corporatewide and foundation cash
and in-kind contributions
148,355Hours volunteered by employees
22.9%Women as a percentage of total
global employees
THE ENVIRONMENTBetter together
Cisco products and solutions have enormous potential to help businesses and individuals shrink their carbon footprints. We are using our own organisation to demonstrate the potential of our technologies to achieve a global transformation to a low-carbon society.
Cisco employees use our collaboration and remote working technologies, such as Cisco WebEx and Cisco TelePresence, to save more than 47,000 tonnes of carbon emissions a year by avoiding commuting and demonstrating the power of virtual face-to-face communication.
We have robust systems in place to help us monitor, manage, and minimise the impacts of our operations and our products throughout the value chain, from design and manufacture to disposal and recycling by our customers.
SOCIETYTransforming communities
Cisco engages in public-private partnerships and applies its business and technical expertise to help build a thriving global community. We focus on education, healthcare, economic development, and critical human needs. Our flagship education initiative, Networking Academy, is one of the world’s largest programs of its kind. In healthcare, collaboration technologies are helping transform the delivery of health services. For example, patients in remote or underserved communities can connect to providers virtually, over the network.
Cisco and its employees help with disaster relief efforts, from providing networking technologies that help restore critical communications after natural disasters, to employee and Cisco Foundation donations amounting to millions of dollars a year. Our employees are critical to Cisco’s efforts to build a thriving society, improving their communities through volunteering and cash donations.
OUR PEOPLEWorking together
Cisco actively promotes the development and well-being of our most important asset: our more than 70,000 passionate and dedicated employees, who bring to life our vision.
We support our employees with collaborative technologies that enable flexible and efficient working anywhere, any time. For example, 95 percent of our employees occasionally telecommute or use flextime, two of our flexible work practices that support a better work/life balance.
Cisco promotes an inclusive and diverse culture, with an emphasis on collaboration. This gives us a competitive edge by providing access to new ideas, promoting better decision making, and attuning the company to a variety of customers and cultures. Nearly half of our workforce is non-Caucasian.
We pay our people through competitive, performance-based compensation and benefits that reward innovation, collaboration, and profitability
CSR REPORT HIGHLIGHTS 2013
44.2%Ethnic minorities as percentage
of total U.S. employees
12%Reduction of GHG emissions since 2007
19.3mPeople hours of virtual meetings at Cisco
using our collaboration solutions
Cisco ReportThis report was developed by introducing the ‘fun’ into something that was purely functional, by using creative info–graphics to show the company’s progress in a friendly way. I believe that the final outcome hit all aspects of the brief by being clean, simple & innovative.
2013 //PORTFOLIO 7
OSSIAN & DAVINA
Ossian & DavinaCreated by a couple that grew up in Scotland with a wheat intolerance, they decided that Gluten Free products were too boring, plain and very unappealing in the market place.
The Ossian & Davina (Little Deer) brand was created. The design is ‘loosely’ based on the Scottish highlands, with the Prism box representing a hill top and some small illustrations on the base of the box to show the landscape. The package creates a new experience for people who can’t eat wheat and something of a luxury line for them to enjoy.
PORTFOLIO// 20138
CARBON EMISSIONS
Carbon EmissionsThe brief for the project was to
captivate a very open aged demographic. The website had to
appeal to everyone, be easy to use and hit the topic at a good
graphical level. My design shows ease of use and a colour
pallet that will appeal to everyone. I also developed a smaller screen version to go onto the iPhone or
any other device, to allow access to content from anywhere!
2013 //PORTFOLIO 9
GOOFY E-PUB
GoofyMy Goofy digital magazine has turned
peoples heads, with it being one of my favourite projects. I’ve worked
on the iconography and the UX of the magazine making it easy to
navigate round. The project hosts many interesting features where you can swipe
through interactive content, mess with peoples faces and see something that
has been designed.
PORTFOLIO// 201310
MÖDE FASHION SYPOSIUM
MödeThis project is a huge roll out campaign for a fashion symposium being hosted in Berlin this year. I developed the brand and chose the name Möde from the selection in the brief, despite the fact that it reminded me of the Magazine that the hit US sitcom ‘Ugly Betty’ worked in. I thought this could relate to the fashion connoisseurs out there. I developed many different ideas for this project, some that got scrapped at the last minute but the end result I believe meets the brief and will appeal to the client. I think that this project speaks to the current fashion trends that are out there, based on what most of the high street shops are doing and how they promote to their clientele. I created the tickets, posters, website & even an iPhone app for the symposiums’ agenda.
PORTFOLIO// 201312
HERMAN MILLER
Herman MillerThis is a corporate brochure designed for Herman Miller, showing the page, graph and table design in a simple and attractive format.
A N N U A L R E P O R T2 0 1 3
INNOVATION IS A PROCESS OF DISCOVERY
ANNUAL REPORT // 20134
LETTER FROM THE CHIEF EXECUTIVE OFFICER
Dear Fellow Herman Miller Shareholder,
With all the cutbacks and personal sacrifices of so many people and their families in our fiscal year 2011, we took significant steps to make sure Herman Miller will emerge stronger than ever from the most recent economic downturn. I believe we have come through the worst of it.
As I look back on the last year, I’m pleased that we were able to balance three things—the obligations we have to people who have invested in Herman Miller, keeping the talent we have, and investing in ways that broaden our markets. When we balance all of these things, we are making sure the Herman Miller community will thrive for years to come.
The core of our business continues to focus on serving the furniture needs of U.S. businesses. Over the past five years, however, we have made a deliberate and sustained effort to broaden our mix of customers and channels to market. We have pursued this direction through both internal development and acquisitions. The hard work and sacrifices of our employees enabled us to continue to invest in this long-term direction despite the recent challenging economic environment.
In June, 2010, we acquired Nemschoff, a $90 million manufacturer of healthcare furniture. In April, 2011, we acquired Colebrook Bosson Saunders, a design leader in ergonomic work tools. As a result, today, nearly 50% of our sales are to hospitals, learning environments, individuals at home, and customers in locations outside the U.S. While this more diverse customer base did not enable us to avoid the negative effects of the global recession, we believe it will provide greater opportunities for recovery and growth.
Our Financial Position
Notwithstanding the difficult business conditions we faced this fiscal year, our commitment to forward investment and aggressive restructuring paid off in the form of solid financial results. We maintained a robust R&D program by investing $33 million in product development. Over the past four years, our spending in this area has averaged 2.2% of sales. In fiscal 2011, approximately 23% of total revenue was derived from sales of new products introduced over the past four years.
We were aggressive in our efforts to adjust costs in line with business levels, recognizing $17 million in restructuring expenses during the year. As a result, we remained profitable and generated $99 million in cash flow from operations. We also took steps to reduce balance sheet risk by paying down $75 million of outstanding debt and increasing the funded status of our employee retirement obligations.
Despite this and $46 million in cash used for acquisitions, we ended the fiscal year with $147 million in cash and investments. These efforts and the resulting financial performance helped drive a 35% increase in our stock price during the fiscal year.
Other Progress
Throughout the downturn, the development of new products has remained a critical element of our business strategy. At the Neocon tradeshow in Chicago in June, we introduced 18 new products and demonstrated in clear and visible ways that Herman Miller is on the march.
Among the most significant areas of change at this year’s show was Herman Miller for Healthcare. When you entered our new dedicated show space, it was clear that we are serious about servicing the needs of healing environments. We have a broad portfolio of capabilities to serve the entire hospital and a new innovation in a product called CompassTM, which was a highlight of the entire show. And the teamwork between the folks of Herman Miller, Nemschoff, and Brandrud was remarkable.
The Combined Herman Miller and Geiger showroom demonstrated, once again, our ability to deliver innovative products that solve real problems and are simply beautiful. The introduction of new chairs and tables from Geiger shows we can still lead the industry with designs that delight, and our new workstation products proved we can deliver beauty and function better than anyone.
We formally launched the ThriveTM Portfolio of ergonomic tools and tables. In doing so, we demonstrated that we can and will move quickly to find new areas to serve our traditional customers and dealers. And, our new tables and soft furnishings offered a clear demonstration that we intend to grow our presence in educational settings.
We hosted an invitation-only event to preview a new chair family we believe will set a new reference point for comfort, beauty and value. We plan to launch this chair at Orgatec in Europe this fall.
Thanks and Farewell to Bill Pollard
After serving on our board of directors for 25 years, Bill Pollard, former chairman of ServiceMaster, is retiring. Bill has been involved in some of the most formative years of Herman Miller, and he has been colleague, advisor, and advocate for our company to five Herman Miller CEOs. We all thank him for his service and commitment.
Updating an Interesting Story
Two years ago, Herman Miller was one of six companies named to three meaningful lists—Fortune’s “Most Admired,” Fortune’s “100 Best Places to Work,” and Fast Company’s “Most Innovative.” This year, by coincidence, we were also one of only six companies to make all three lists (Fast Company’s list is now expanded to “Innovation All-Stars.”) The other five are Google, Microsoft, Intel, Qualcomm, and Cisco.
We must continue to do the things and stand for the things that placed us among such good company. We must continue—as our employees have made it possible for us to do—to move ahead, to progress, to become stronger as a community and a business.
Our business continues to change, we continue to diversify, we continue to look hard at where we are and where we need to go. Our job is to deal with reality—and remain committed and dedicated to creating a prosperous future for Herman Miller. We continue to live the values that have been our guide for almost 100 years.
Whether you are an employee, a customer, a shareholder, or a neighbor, we continue to work for a better world around you. Pursuing that goal is why we come to work and continue to find fulfillment here.
Sincerely,
Brian C. Walker President and Chief Executive Officer
2013 // HERMAN MILLER 5
Febuary 23 2013
We became the first company in our industry (and one of the first in the world) to fuel 100% of our facilities with renewable energy.
“ “
LETTERS FEBUARY 23 2013 LETTERS FEBUARY 23 2013
BALANCe SHeeTSFor the year ended May 29, 2012
The above balance sheet should be read in conjunction with the accompanying notes. (In millions, except share and per share data)
BALANCe SHeeTS
Current Assets: Notes 2012 $’000 2011 $’000
Cash and cash equivalents 3 134.8 192.9
Marketable securities 4 12.1 11.3
Accounts receivable, less allowances of $4.4 in 2011 and $7.3 in 2010 5 144.7 148.9
Inventories, net 6 57.9 37.3
Prepaid expenses and other 7 45.2 60.5
Total Current Assets 394.7 450.9
Property and Equipment:Land and improvements 8 19.4 18.8
Buildings and improvements 9 147.6 137.4
Machinery and equipment 10 546.4 552.0
Construction in progress 11 10.7 9.8
724.1 718.0
Less: accumulated depreciation (548.9) (538.8)
Net Property and equipment 175.2 179.2
Goodwill and indefinite-lived intangibles 132.6 72.7
Other amortizable intangibles, net 25.0 11.3
Other assets 43.1 53.2
Total Assets 770.6 767.3
Liabilities and Shareholders’ EquityCurrent Liabilities:
Unfunded checks 12 $4.3 $3.9
Current maturities of long-term debt 13 100.0 75.0
Accounts payable 14 96.3 79.1
Accrued liabilities 15 112.4 124.2
Total Current Liabilities 313.0 282.2
Long-term debt, less current maturities 201.2 302.4
Other liabilities 176.3 174.7
Total Liabilities 690.5 759.3
Shareholders’ Equity:
Preferred stock, no par value (10,000,000 shares authorized, none issued) — —
Common stock, $0.20 par value (240,000,000 shares authorized, 57,002,733 and 53,826,061 shares issued and outstanding in 2011 and 2010, respectively)
11.4 10.8
Additional paid-in capital 55.9 5.9
Retained earnings 152.4 129.2
Accumulated other comprehensive loss (136.2) (134.1)
Key executive deferred compensation (3.4) (3.8)
Total Shareholders’ Equity 80.1 8.0
Total Liabilities and Shareholders’ Equity 770.6 767.3
FINANCIAL SUMMARY
2008 2012
U.S. Office / Government
International
Health, Home and Education
1797m
1918m
2012m
1630m
1318m
2008
2009
2010
2011
2012
2008 2012
U.S. Office / Government
International
Health, Home and Education
1797m
1918m
2012m
1630m
1318m
2008
2009
2010
2011
20122008 2012
U.S. Office / Government
International
Health, Home and Education
1797m
1918m
2012m
1630m
1318m
2008
2009
2010
2011
2012
2008 2012
U.S. Office / Government
International
Health, Home and Education
1797m
1918m
2012m
1630m
1318m
2008
2009
2010
2011
2012
FIve YeAR FINANCIAL SUMMARY OF GROWTH
Discussion of Business Conditions
Our fiscal years ended May 29, 2011 and May 30, 2010 each included 52 weeks of operations. Fiscal 2011 was a year marked by economic challenge and strategic achievement. For the second year in a row sales decreased by 19 percent and we were called upon to make tough choices to balance current profitability against future investments.
From an economic perspective, the macro drivers of demand in the contract office furniture industry have remained relatively soft with lagging office construction rates and reduced employment levels. However, after finishing the year with two consecutive quarters of year-overyear order growth, it appears that our business is benefiting from some momentum in the broader economy.
Apart from the overall economic challenges, we have made great progress this year toward our strategic goals. Despite lower sales relative to last year, we have remained solidly profitable, achieving an operating earnings of 4.1 percent of sales for the full year. We took action to de-leverage our balance sheet in the first quarter through the early retirement of $75 million of long-term debt and then in the third quarter by partially funding our pension obligations. As part of our continuing efforts to reduce fixed operating expenses, our operations team worked diligently toward the implementation of two factory consolidation projects, both of which were successfully concluded during the fourth quarter. even in this challenging environment we have continued our focus
on operational excellence with our manufacturing operations maintaining a reliability score above 99 percent throughout the year. At this year’s NeoCon, the contract furniture industry’s largest tradeshow, our new healthcare showroom was named the large showroom winner, and, for the fourth time in five years, we received the Office Furniture Dealers Alliance (OFDA) Gold award as the Manufacturer of the Year.
During the year, we worked hard to deliver superior products and services to our dealer network. Despite the economic downturn, the development of new products has remained a critical element of our business strategy. At this year’s NeoCon we introduced 18 new products. Among the most significant achievements at this year’s show was a new healthcare product called CompassTM, which won a Gold award in the healthcare furniture category and the launch of the ThriveTM portfolio of ergonomic products, which includes the technology support category’s Silver award winning FloTM monitor arm. In launching ThriveTM we demonstrated that we can and will move quickly to find new areas to serve our traditional customers and dealers. We also hosted an invitation-only event to preview a new chair family we believe will set a new reference point for comfort, beauty and value.
During the NeoCon show we announced another milestone for our company: being the first in our industry (and one of the first in the world) to fuel 100% of our facilities with renewable energy. This past year we made significant progress toward our goal of having zero impact on the environment by the year 2020. While we still have progress to make, we believe the finish line is in sight.
ANNUAL REPORT // 201312 2013 // HERMAN MILLER 12
2013 //PORTFOLIO 13
REAL ADVENTURES EDM
EdmThis is a simple eDM for a holiday company
who wanted the design to be consistent across many different countries.
PORTFOLIO// 201314
TAYLOR BRANDING
TaylorThe brief required a new brand to be created and applied across many of the company’s products. It is aimed at a young demographic living in the City. It started off with a hand drawn logo for a business start up, then branched out into a series of designs and products that provided different means for the customer to interact with the business.
‘your garden’‘your garden’
bespoke toolsflowerslandscape servicesconsultation
‘your garden’
ww
w.t
ayl
org
ard
en
s.c
om
Tear open box
INSTRUCTIONS: TO HELP YOU START YOUR URBAN GARDEN
Place soil in the lined box
SOIL
SOIL
FE
ED
Place soil feed into A Jug of 25ml
(Pour contents into box)
Makes it like Jack and the Beanstalk
Place seeds in the soil box
Be careful paper cuts are a risk!
MYSEEDS
Don’t soil yourself! Wear gloves. Plant thy seed in thy garden
Put by a window andwatch your work
flourish
Give Mr. Sunshine a job to do!
Just living is not enough. One must have sunshine, freedom, and a little flower.
This
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ab
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ate
ria
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is
wid
ely
Re
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lab
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#sa
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et
Bespoke tools
Treated Soil
Custom Seeds