Mission Statement, Vision, & Core Values (2024) of TELUS Corporation (TU)

An Overview of TELUS Corporation (TU)

General Summary of TELUS Corporation

TELUS Corporation, established in 1990, is a Canadian telecommunications company headquartered in Vancouver, British Columbia. The company operates as a national telecommunications provider in Canada and offers a range of products and services including wireless communications, data services, digital television, and internet services. As of 2024, TELUS serves more than 15 million customer connections across its various platforms.

The company's major offerings include:

• Wireless Services
• High-Speed Internet
• Optik TV
• Home Security and Automation Services
• Health Solutions

For the year 2024, TELUS reported sales of approximately $17.5 billion, showcasing a robust portfolio in both consumer and business services, reflecting strong market demand and innovative service offerings.

Company's Financial Performance

In the latest financial reports for the fiscal year ended December 31, 2023, TELUS Corporation achieved a record-breaking revenue of $17.5 billion, up from $16.2 billion in 2022, representing a year-over-year growth of 8.0%.

The breakdown of revenue sources for TELUS in 2023 is as follows:

In addition, TELUS has experienced significant growth in its wireless market, with subscriber growth of approximately 5.2%, bringing total wireless customers to 10 million. The company also reported an increase in average revenue per user (ARPU) to $75.50 in 2023, compared to $72.00 in 2022, reflecting better service uptake and pricing strategies.

Introduction to TELUS as an Industry Leader

TELUS Corporation is recognized as one of the leading telecommunications companies in Canada and has been consistently ranked among the top providers due to its innovative services and customer-centric approach. The company has been a pioneer in adopting new technologies, such as the rollout of 5G networks and advancements in smart home solutions, which have positioned TELUS as a forward-thinking and competitive player in the industry.

As of 2024, TELUS is actively investing in expanding its infrastructure and services in various markets, solidifying its standing in the telecommunications sector. The commitment to sustainability and community investment further enhances its reputation as a socially responsible company.

To explore more about why TELUS Corporation remains at the forefront of the telecommunications industry, additional insights can be found below.

Mission Statement of TELUS Corporation (TU)

Company's Mission Statement

The mission statement of TELUS Corporation encapsulates its dedication to enhancing the lives of Canadians through high-quality technology and customer service. This mission serves as a guiding principle that informs TELUS’s strategic initiatives, aligning its operations with customer needs and long-term objectives.

Core Component 1: Customer Commitment

Customer commitment forms the foundation of TELUS's mission statement. The company emphasizes prioritizing customer satisfaction by delivering superior products and services. As of 2023, TELUS has reported a customer satisfaction score of 80%, highlighting its focus on enhancing customer experiences.

This commitment is reflected in various initiatives such as the TELUS Peace of Mind plans, which offer flexible data options, and TELUS Health, focusing on improving healthcare delivery through innovative technology. In 2022, TELUS invested CAD 4.2 billion in customer-centric innovations.

Core Component 2: Innovation

Innovation is a critical aspect of TELUS's mission, as the company strives to lead in technological advancements. TELUS has invested heavily in 5G technology, allocating CAD 1.3 billion in 2023 alone for its expansion. This investment aims to enhance network performance and customer service quality.

In 2023, TELUS launched its 5G network in over 900 communities across Canada, which is expected to benefit approximately 18 million Canadians, demonstrating its plan to innovate continually and provide cutting-edge services.

Core Component 3: Community Engagement

The final core component of TELUS’s mission is its commitment to community engagement. The company strives to make a positive impact through various social initiatives. In 2023, TELUS contributed over CAD 100 million to charitable causes and community programs.

This focus on community includes the TELUS Friendly Future Foundation, which supports youth initiatives, and various programs aimed at digital literacy and health care accessibility.

Vision Statement of TELUS Corporation (TU)

Vision for Customer Experience

As of 2024, TELUS Corporation's vision emphasizes delivering an unparalleled customer experience. This commitment is reflected in their goal of achieving a Net Promoter Score (NPS) of 60 or higher, positioning them among the top telecom providers globally.

In 2023, TELUS recorded an NPS of 58, showcasing significant growth in customer loyalty and satisfaction.

Focus on Innovation

TELUS aims to lead in innovative solutions by investing heavily in technology advancements. The company allocated approximately $1.5 billion in capital expenditures for 2024, primarily targeting network enhancements and digital service innovations.

Key areas of innovation include:

• 5G Network expansion
• Internet of Things (IoT) integration
• Smart home technology

Commitment to Sustainability

TELUS's vision incorporates a strong commitment to sustainability. The company aims to reduce its greenhouse gas emissions by 46% by 2030, using 2020 as a baseline.

Their environmental initiatives include:

• Investment in renewable energy projects
• Implementation of circular economy practices
• Focus on reducing waste and increasing recycling efforts

Employee Engagement and Empowerment

Employee engagement is central to TELUS’s vision, with a target of achieving an employee engagement score of 85% or higher in internal surveys conducted annually.

In 2023, TELUS reported a score of 82%, indicating ongoing efforts to improve workplace culture and employee satisfaction.

Initiatives to boost engagement include:

• Professional development programs
• Diversity and inclusion initiatives
• Flexible work arrangements

Global Reach and Community Impact

TELUS’s vision extends to enhancing its global presence while making significant community impacts. The company aims to connect 10 million new customers globally by 2025.

Community initiatives include funding for health and education projects, with a projected investment of $100 million over the next three years.

Core Values of TELUS Corporation (TU)

Customer First

The core value of Customer First at TELUS Corporation emphasizes the importance of prioritizing customer needs and satisfaction. This value drives the company to innovate and improve service delivery continuously.

In 2023, TELUS reported a net promoter score (NPS) of +51, reflecting high customer loyalty and satisfaction. The company's dedication to customer service is evident through initiatives such as the TELUS Customer Experience Transformation, which invested approximately $100 million in enhancing digital customer interactions.

Furthermore, the Health for Good program has provided over 1.7 million Canadians with access to healthcare services through virtual care, demonstrating TELUS's commitment to supporting customers' health and well-being.

Innovation

Innovation is a fundamental core value of TELUS Corporation, driving the company to leverage technology for better solutions and services.

In 2022, TELUS invested $1.7 billion in capital expenditures focused on network enhancements and innovations. The introduction of the 5G network in over 1,000 communities across Canada showcases its commitment to offering cutting-edge technology. Moreover, TELUS partnered with Microsoft Azure to enhance its capabilities in cloud computing, signifying its focus on innovative solutions.

The company's IoT Solutions program has expanded to connect over 1 million devices, highlighting TELUS's leadership in smart technology innovation.

Social Impact

Social Impact as a core value reflects TELUS Corporation's commitment to making a positive difference in communities.

In 2023, TELUS reported a contribution of $2 million to various community initiatives, part of its TELUS Friendly Future Foundation. This foundation has supported over 1,200 non-profit organizations across Canada. The company has also committed to reducing its carbon footprint by 50% by 2030, aligning with its sustainability goals.

Moreover, TELUS's Give Where We Live initiative has engaged over 40,000 employees in volunteer efforts, demonstrating a strong commitment to community service and engagement.

Integrity

Integrity is crucial for TELUS, ensuring business practices that are ethical and transparent.

In 2023, TELUS maintained a corporate governance rating of A- from the Institutional Shareholder Services (ISS), indicating strong corporate governance practices. The company also achieved a 100% score on the Human Rights Campaign’s Corporate Equality Index, reflecting its commitment to diversity and inclusion.

Additionally, TELUS holds regular compliance training sessions for its employees, with over 95% participation reported in 2022. This focus on ethical practices reinforces TELUS's commitment to integrity at every level of operation.

Teamwork

Teamwork is an essential core value that fosters collaboration and shared goals within TELUS Corporation.

In 2023, TELUS initiated the Collaboration in Action program, which involved over 1,500 employees in cross-departmental projects, enhancing inter-team cooperation. The company reported a 30% increase in project efficiency due to these collaborative efforts.

Furthermore, TELUS’s employee engagement score reached 82% in 2022, reflecting a strong culture of teamwork and mutual support, which contributes to a productive work environment.