The actual and potential impacts of globalisation on SIEMENS: Evaluation of possible strategies going forward which the company might use to respond to the impacts of globalisation
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The actual and potential impacts of globalisation on SIEMENS: Evaluation of possible strategies going forward which the company might use to respond to the impacts of globalisation - Assignment Example
Siemens has its operations in 1,640 locations spread in 190 regions across the world. The locational advantage enables Siemens to offer tailor made solutions to its customers in keeping with local conditions. …
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Siemens has about 336,000 employees today. It also has 176 R & D facilities across the world (WorldwidePresence, n.d ). The 160 year history of Siemens marks the periods of “Beginnings and initial expansion (1847-1865), “ triumph of heavy engineering and internationalisation (1865-1890), “growth through consolidation and partnerships” (1890-1918), “Return to the world market and unity within the ‘House of Siemens’” (1918-1933), “The National Socialist economy and the war years” (1933-1945), “Reconstruction and emergence as a Global Player” (1945-1966), “New markets and areas of business” (1966-1989) and “The age of globalization” (1989-2008) (Siemens-History, n.d). With the 160 years of expertise, Siemens is a world leader as the “21st largest company in the world, the largest company in electrical and electronics sector, 8th largest business in Europe, 6th biggest employer in the world” (Cohen, 2006) employing 426,000 people across 190 countries as per the 2006 estimates. Its global revenues are in the region of € 80 billions, investments on workforce skills about € 500 m per year. The company believes in innovation as a key for business success and claims to generate more than 30 inventions every day (Cohen, 2006).
Effects of globalization on firms
Siemens claims that by globalization, the global economy has made a full circle as “over centuries, the economy centre of gravity has made a full loop” (Cohen, 2006, p. 9) in its own words. ...
process, the elite of the developed countries needs to be educated and infrastructure services have to be developed to “market and social standards”. Globalization has both threats and opportunities for countries and entities that they have to balance them through restructuring themselves stronger than at present. Simens lists “heavy social impact, heavy image impact, challenged service quality, complex reversibility, challenged security management and knowledge evaporation” (Cohen, 2006, p. 11) as threats and “new market access, increased competitiveness, defined formal Special Level Agreements (SLAs) , Information and Communication Technology (ICT), long term partnership, defined policies and tools, reinforced methods and ICT, defined rules and duties” (Cohen, 2006) as opportunities as a result of globalization. These can be tackled by “strong ethic policies, partnerships instead of purchasing and enhancement of governance” (Cohen, 2006) Globalization helps low and high cost countries to benefit through “balancing commercial exchanges and experience sharing” (Cohen, 2006, p. 12). Leverages/strategies to achieve Globalization are “transparency, investments instead of subsidies, sharing instead of concentrating” (Cohen, 2006, p. 12) Strategies Simens claims that their company is well equipped to counter the global challenges by reliance on continued innovation (30 inventions per day!) and differentiation. Its global workforce could be established by capitalising on off-shoring so as to ensure competitive advantage and continuity of the workforce. Globalization brings with it urbanization, with the result, today (2006) there are 280 million people in big cities and the trend is, more people in cities than in rural areas for the first time since
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