Honeywell Mission Statement Analysis

• Company: Honeywell International Inc.   
• CEO: Vimal Kapur
• Year founded: 1906
• Headquarters: Charlotte, North Carolina, USA
• Number of Employees: 24,000
• Type: Public
• Ticker Symbol: HON
• Market Cap (Jan 2025): $141.88 Billion
• Annual Revenue (2024): $38.5 Billion
• Profit | Net income (2023): $5.71 Billion

Products & Services: Aerospace Technologies | Building Automation | Sensing & Safety Technologies | Automation & Productivity | Industrial Chemicals & Materials | Energy & Sustainability Solutions

Competitors: Boeing | General Dynamics | Lockheed Martin | TransDigm Group | Northrop Grumman | HEICO | Teledyne | Textron | Curtiss-Wright | Siemens | Bombardier | Hitachi | ABB | GE | IBM | Bosch | Rockwell Automation | Rolls-Royce | Johnson Controls | 3M

Image Source: Honeywell’s Revenue by Segment

Did you know? Costco sells cashews worth over $15 million annually, half of the world’s output. The retailer sources cashews from independent farmers in Africa. 

Honeywell traces its origins to 1885 when Swiss-born Albert Butz founded the Butz Thermo-Electric Regulator Company. Butz invented the damper-flapper thermostat for efficient coal furnace control, delivering automated heating system regulation into homes. The company has dominated the home automation sector for 119 years. Honeywell’s mission, values, and sustainability goals differentiate the business from competitors and drive long-term growth. In 2024, Honeywell made $38.5 billion in annual revenue, with $5.71 billion in profit. [1]

Honeywell is an integrated operating company serving the aerospace, industrial, building, and energy industries. Its Honeywell Accelerator operating system and Honeywell Forge IoT platform enable automation, cutting-edge aviation solutions, and energy transition. In Oct 2024, Honeywell announced plans to spin off its Advanced Materials business. The spin-off will allow Honeywell to accelerate organic growth, evolve its Accelerator operating system, and optimize its portfolio. [2]

Checkout: Honeywell’s Revenue

To understand Honeywell’s secret to success and excellence over 100 years, here is an in-depth analysis of its mission statement, values, and sustainability goals:

Honeywell’s Mission Statement

To create a better tomorrow by confronting the world’s toughest challenges today.

Honeywell achieves its mission through innovation, collaboration, and streamlining business segments.  

Here is our analysis of Honeywell’s mission statement:

1. Innovation

Honeywell strives to deliver innovative solutions to address future challenges. The company provides actionable innovations for aerospace, industrial and building automation, and energy sectors. It helps make the world smarter, safer, and more sustainable. In 2024, Honeywell’s top innovations included Advance Control for Buildings, Multi-Modal Intelligent Agent Honeywell Forge-powered digital platform, and Surface Alert (SURF-A) software.

Honeywell’s innovations enhance productivity, safety, and sustainability across industries. For example, Advance Control helps building managers optimize energy usage, operations, and occupant experience. The Multi-Modal Intelligent Agent is a digital platform powered by Honeywell Forge that enhances operational performance company-wide. Airports can use Honeywell’s SURF-A software to prevent runway collisions between aircraft. Other innovative Honeywell solutions include the AI-powered Granit Ultra barcode scanner, the HALAS weather prediction technology, Honeywell Ensemble, and INNCOM Direct. [4]

2. Streamlining portfolio

Honeywell relies on its products and services to help customers overcome complexities and challenges. The company has invested around $9 billion in accretive acquisitions since Dec 2023. In Jun 2024, Honeywell acquired Access Solutions from Carrier Global for $4.95 billion. The deal strengthens Honeywell’s Building Automation segment, expands its security offerings, and accelerates innovations in the fast-growing, cloud-based services. Its other acquisitions include Civitanavi Systems, CAES Systems, and Air Products’ liquefied natural gas (LNG) business. [5]

Honeywell’s portfolio optimization efforts include spin-offs and divestments. Chairman and CEO Vimal Kapur launched a Board-led comprehensive business portfolio evaluation. In 2024, Honeywell’s Board explored several strategic actions, including separating the firm’s aerospace business. Honeywell has also agreed to divest its Personal Protective Equipment business and spin off its Advanced Materials venture into an independent, US publicly traded company. [6]

3. Collaboration

Honeywell is committed to helping organizations solve the world’s most complex challenges. It achieves this mission by collaborating with leading companies across the sector. In Dec 2024, Honeywell partnered with Bombardier to offer advanced avionics, propulsion, and satellite communications technologies for Bombardier aircraft. The collaboration seeks new solutions to enhance flight safety and efficiency and improve engine power, reliability, and maintainability. [7]

Honeywell collaborated with ESS Tech in 2023 to advance tech development and market adoption of iron-flow batteries. The company partnered with Chevron to develop advanced AI-assisted solutions. In Jan 2025, Honeywell and NXP expanded their collaboration to build automation with new AI and autonomous aviation innovations. The partners will integrate their processors and platforms to provide high-performance, intelligent solutions to address unique aviation challenges. [8]

Honeywell’s Core Values

Honeywell values integrity and ethics, supporting diversity, and workplace respect. The company nurtures constructive behaviors to reinforce its performance culture. Its Code of Business Conduct guides employees on how to uphold these values. [9]

Honeywell nurtures six behaviors to drive growth.

• Innovate and create value: Honeywell encourages employees to solve customers’ challenges. This behavior cultivates a growth mindset and a relentless passion for solving complex problems.
• Embrace transformation: Honeywell urges employees to use standard processes and systems to drive operational excellence.
• Win together: Honeywell employees should collaborate across functions to drive profitable growth.
• Build exceptional talent: ​​​​​Honeywell recruits, retains, and develops top talent. It creates a positive, inclusive environment, empowering employees to do their best work.
• Drive accountability culture: Honeywell encourages employees to solve clients’ problems proactively. Team members should care about the company and customer outcomes, fulfill their promises, and execute with discipline to drive a performance culture.
• Be courageous: Employees should act confidently on what they believe is ethical. They should execute their work transparently, share challenges openly, and own the results of their efforts.

These six behaviors drive Honeywell’s culture. How does Honeywell live by its core values?

1. Integrity and Ethics

Honeywell is committed to upholding the highest levels of integrity in its operations. The company believes this value helps sustain its brand credibility, reputation, and growth. “We’re committed to achieving our financial targets, but we do it the right way,” says Vimal Kapur, Honeywell Chairman and CEO, “We’ll accept nothing less than complete adherence to our foundational principles.” The firm operates ethically and encourages all employees to comply with relevant laws and regulations. [10]

2. Workplace Respect

Honeywell promotes a respectful work environment that supports all workers. Employees should think “ONE Honeywell” and contribute to the organization’s collective knowledge. The company has zero tolerance for harassment, discrimination, and intimidation in its workplace. It applies this value in all employment phases, including hiring, promotion, demotion, transfer, discipline, termination, and compensation. Honeywell also promotes workplace respect by protecting employees’ personal information and treating all workers fairly. [11]

3. Inclusion and Diversity

Honeywell is committed to maintaining an inclusive workplace that embraces all employees. The company seeks to build a workforce that reflects the diversity of the communities in which it operates. This value influences Honeywell’s hiring, promotion, demotion, termination, and compensation policies. For example, the company fired a white engineer who refused to participate in mandatory diversity, equity, and inclusion training after the Black Lives Matter movement began. In Jul 2024, a US Circuit Court ruled that Honeywell did not violate workplace anti-discrimination laws by firing the employee. [12]

Checkout: Honeywell’s Competitors

Honeywell’s Sustainability Goals

Honeywell is committed to reducing its carbon footprint and protecting the environment. The company has set several sustainability goals, including:

• Achieve carbon neutrality in facilities and operations by 2035.
• Develop a science-based target to quantify and address its Scope 3 emissions.
• Reduce its US Scopes 1 and 2 greenhouse gases by 50% by 2030 from a 2018 baseline. [13]

How is Honeywell progressing on its sustainability goals?

1. Planet

Honeywell prioritizes environmental sustainability to achieve carbon neutrality by 2035. Its initial 2019 target was to reduce Scope 1 and 2 emissions by 10%, complete 10 new renewable energy projects, and earn ISO-50001 certification in 10 facilities. As of 2024, 28 Honeywell locations were ISO-50001-certified for energy management efficiency. 60% of its R&D budget funds sustainability-oriented technologies. The company has increased its energy efficiency by around 70% and reduced greenhouse gas intensity by 90% since 2004. [14]

2. People

Honeywell fosters a diverse and inclusive workplace. The company supports its staff through professional development and leadership training. In 2023, Disability:IN recognized Honeywell on its “Best Place to Work for Disability Inclusion” list. The company has distributed over $7.7 million in employee relief assistance since 2005. It offered over 100 jobs and internships to students in 2024 through the National Society of Black Engineers. [15]

3. Principles

Honeywell is committed to operating ethically and fulfilling its mission and core values. Its business is founded on integrity, safety, and inclusion. As of 2024, Honeywell’s Board of Directors was 33% women and 42% ethnically or racially diverse. The company has implemented digital tools and processes with over 1,000 data elements to enhance anti-corruption programs. All eligible Honeywell employees complete Code of Business Conduct training annually. The company also offers comprehensive integrity and compliance training in over 20 languages. [16]

References

1. Honeywell (2024, Feb 1). Honeywell Announces Fourth Quarter and Full Year 2023 Results. Honeywell.gcs-web.com
2. Honeywell (2024, Oct 8). Honeywell Announces Plan to Spin Off Advanced Materials Business to Shareowners. Honeywell.com
3. About Us: Our mission. Honeywell.com
4. Honeywell (2024, Dec 31). Top Innovations in 2024. Honeywell.com
5. Honeywell (2024, Jun 3). Honeywell Completes Acquisition of Carrier’s Global Access Solutions Business and Updates 2024 Outlook. PRNewswire
6. Honeywell (2024, Dec 16). Honeywell explores strategic alternatives for unlocking value and continues the review of transformational portfolio actions. PRNewswire
7. Honeywell (2024, Dec 2). Honeywell and Bombardier sign a landmark agreement to deliver the next generation of aviation technology. PRNewswire
8. Honeywell (2025, Jan 8). Honeywell and NXP expand their partnership to accelerate next-generation aviation tech. Honeywell.com
9. Honeywell International Inc. Working at Honeywell: Our core values. Honeywell.com
10. Integrity & Compliance at a Glance. Honeywell.com
11. Our Code of Business Conduct. Honeywell.com
12. Stempel, J. (2024, Jul 11). Honeywell defeats fired engineer’s appeal over diversity training. Reuters
13. Honeywell (2022, Apr 8). Carbon neutrality: We’re making a sustainable future start today. Honeywell.com
14. Sustainability: A More Sustainable Future. Honeywell.com
15. Honeywell (2024, Dec 31). Impact Report 2023-2024: Highlights. Honeywell.com
16. Darley, J. (2024, Oct 2). People, Planet & Principles: Honeywell’s 2024 Impact Report. Sustainability Magazine
17. Featured Image by SpaceX