Siemens is a technology company that is active in nearly all countries of the world, focusing on the areas of automation and digitalization in the process and manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, conventional and renewable power generation and power distribution, smart mobility solutions for rail and road and medical technology and digital healthcare services.
Siemens comprises Siemens AG, a stock corporation under the Federal laws of Germany, as the parent company and its subsidiaries. It is incorporated in Germany, with our corporate headquarters situated in Munich. As of September 30, 2019, Siemens had around 385,000 employees.
The Siemens name has been synonymous with cutting-edge technologies and continuous growth in profitability. With their wide array of products, systems, and services, they are world leaders in information and communications, automation and control, power, medical solutions, transportation, and lighting. Sustainable success is their number one priority.
Corporation Structure
At the end of fiscal 2018, Siemens announced its “Vision 2020+” company strategy. The main aim of “Vision 2020+” is to give Siemens’ individual businesses significantly more entrepreneurial freedom under the strong Siemens brand in order to sharpen their focus on their respective markets.
As a result, it implemented a new organizational structure in fiscal 2019 consisting of the three Operating Companies – Digital Industries, Smart Infrastructure, and Gas and Power, and the three Strategic Companies – Mobility, Siemens Healthineers, and Siemens Gamesa Renewable Energy.
These six industrial businesses are reportable segments, which together are reported as “Industrial Businesses”.
Financial Services (SFS), which supports the activities of the company’s industrial businesses and also conducts its own business with external customers, continues to be a reportable segment outside the
Industrial Businesses.
Furthermore, it reports Portfolio Companies, which comprises businesses that are managed separately to improve their performance.
Vision and Mission
Vision
Siemens vision is to be a pioneer- this is their vision, their identity, and their main defining characteristic. The vision is based on their values – responsible, excellent, and innovative –, which provide the foundation for their success. Being a pioneer in each sector they operate:
– Energy efficiency
– Industrial productivity
– Affordable and personalized
– Intelligent infrastructure solutions
Mission
On the basis of its forward-looking technology and solutions, the mission of Siemens is to produce a wide range of products and solutions designed with the environment and engage with climate change.
Acquisitions
In October 2018, Siemens acquired the Mendix group for a consideration transferred of €515 million in cash.
In addition, it acquired several businesses in fiscal 2019 and 2018 for a total purchase price of €429 million and €571 million, respectively, mainly paid in cash.
In August 2020, Siemens Healthineers AG announced that it plans to acquire U.S. cancer device and software company Varian Medical Systems in an all-stock deal valued at $16.4 billion.
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Strategies for growth
The company strategy shows how to make its vision a reality. Siemens is aiming to capture and maintain a leading market and technology positions in all its business in order to achieve sustainable profitable growth and, thus, continually increase its company value. For this reason, its strategy is reflected in three different directions:
Innovation-driven growth markets: The company is breaking new ground while focusing on growth markets. Its activities are closely geared to innovation-driven markets with long-term potential and they intend to play a leading role in these markets. To reach this goal, Siemens is continuously strengthening its offerings and further expanding its environmental portfolio.
Get closer to its consumers: They want to be close to their markets, partners, and customers. For this reason, another strategic aim that they are pursuing is the professionalization and expansion of their service portfolio. They are opening up a large number of new business opportunities and reinforcing customer retention. Moreover, to better understand what really helps its customers, Siemens is constantly intensifying its already wide-ranging interaction with them.
Use the power of Siemens, “One Siemens”: To rank among the best, it is important to excel in everything to do, and that means you need an outstanding team. Because of this, their last commitment is their employees’ integrity. The ‘One Siemens‘ strategy is based on the idea of each employee contributes to the company’s success with his knowledge, his compromise, and his pioneer spirit. In
addition, Siemens always operate under the name of Siemens; they only use one brand for all their business as their objective is to transmit confidence and innovation through all their products.
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