Siemens is Europe's largest engineering conglomerates company headquartered in Berlin and Munich . Siemens is in power generation, distribution and transmission; also leading supplier of automation systems for them as well as Siemens is also supplying system for medical imaging and in-vitro diagnostics. It is mainly focusing on area of electrification, digitalization and automation. Siemens has a product Group of Automation, Building, Drive Technology, Energy, Healthcare, Mobility, Financial Solution, Consumer Products and services. It is also active in Real Estate and equity Investments.
“One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading …show more content…
And with outstanding strengths in automation, Siemens is well equipped for the future and the age of digitalization. Vision 2020 defines an entrepreneurial concept that will enable Company to consistently occupy attractive growth fields, sustainably strengthen core business and outpace competitors in efficiency and performance. It’s path to long-term success. And Siemens is measuring progress: seven overarching goals support this aim.
Goals
Only those who set demanding goals can be successful over the long term.
That’s why Siemens linked the success of Vision 2020 to the attainment of seven overarching goals - goals that will provide us with a yardstick and a compass on the path to 2020. In particular, we aim to:
1. Implement stringent corporate governance
Siemens is simplifying and accelerating processes while reducing complexity in Company and strengthening corporate governance functions. In this way, we plan to reduce costs by roughly € 1 billion. The savings are expected to be mainly effective in …show more content…
The brand of Siemens has good global market penetration. The brand is always connected with products of high quality in a lot of markets.
It has steady financial performance in recent years (Dess, 2008). Over the years, Siemens has delivered steady financial results. Siemens' net profits have a similar trend in recent years. Steady financial performance enables Siemens to manage its operations well and also improve the financial flexibility in the next a few years.
Siemens is famous for its Strong R&D capabilities, which is also an important factor for its business success. Its research and development (R&D) investment keeps increasing in recent years; the average number of employees engaged in R&D also keeps increasing (Grant, 2008). The group's focus in R&D facilitates development of new products and enhancements to existing products help in maintaining its strong market position and serving a new segment of customers.
The global economy needs diversity. Siemens has given diversity a permanent place in the corporate level strategy. In Siemens' culture, in view of the shortage of highly qualified people and demographic changes, diversity is a prerequisite for Siemens' long-term success.
“One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading …show more content…
And with outstanding strengths in automation, Siemens is well equipped for the future and the age of digitalization. Vision 2020 defines an entrepreneurial concept that will enable Company to consistently occupy attractive growth fields, sustainably strengthen core business and outpace competitors in efficiency and performance. It’s path to long-term success. And Siemens is measuring progress: seven overarching goals support this aim.
Goals
Only those who set demanding goals can be successful over the long term.
That’s why Siemens linked the success of Vision 2020 to the attainment of seven overarching goals - goals that will provide us with a yardstick and a compass on the path to 2020. In particular, we aim to:
1. Implement stringent corporate governance
Siemens is simplifying and accelerating processes while reducing complexity in Company and strengthening corporate governance functions. In this way, we plan to reduce costs by roughly € 1 billion. The savings are expected to be mainly effective in …show more content…
The brand of Siemens has good global market penetration. The brand is always connected with products of high quality in a lot of markets.
It has steady financial performance in recent years (Dess, 2008). Over the years, Siemens has delivered steady financial results. Siemens' net profits have a similar trend in recent years. Steady financial performance enables Siemens to manage its operations well and also improve the financial flexibility in the next a few years.
Siemens is famous for its Strong R&D capabilities, which is also an important factor for its business success. Its research and development (R&D) investment keeps increasing in recent years; the average number of employees engaged in R&D also keeps increasing (Grant, 2008). The group's focus in R&D facilitates development of new products and enhancements to existing products help in maintaining its strong market position and serving a new segment of customers.
The global economy needs diversity. Siemens has given diversity a permanent place in the corporate level strategy. In Siemens' culture, in view of the shortage of highly qualified people and demographic changes, diversity is a prerequisite for Siemens' long-term success.