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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Countries which have been able to harness the potential of ICTs, or Information and Communication Technologies, have been able to achieve significant economic and social development. These countries have even transformed themselves into knowledge-based economies.
To survive in the prevailing highly competitive environment, the adoption of globalisation is a prerequisite condition for the countries. It can be defined as a course of development by which the globe is becoming increasingly interrelated or interconnected as a result of massively augmented cultural exchange and trade.
Critical Evaluation of “Adopting a simple profit-maximizing perspective can have positive impacts for a firm”. A firm that has a profit maximizing perspective and idea, it has the major part of realized profit and sometimes the idea of maximizing the profit is not acceptable at the root level by the firm itself.
Companies such as Microsoft have shown great enthusiasm to their CSR programs where besides offering employment to thousands of people from various backgrounds, the larger society benefits through programs initiated by the
Globalization can be defined as interaction among people, organization and different nation’s government for international trade, investment and sharing of technology is known as globalization. This process has a lot of effects on culture, the environment, political and economic development and betterment of human beings in different societies of the world.
56). One important attribute of globalization is an increase in marketing activities for businesses that operate globally. With globalization, business organizations have the potential to access cheap labor and other important
Green, who is currently on his third year mission to Egypt, is located in Cairo in which he works in the information technology department of a ‘non-governmental’ organization. He was chosen for the interview because he has been a good friend since childhood.
It was also able to set up a record of having 1.03 million visitors in a single day. The World Expo has set new standards for encouraging tourism within a country. A good tourism package, in the past, only used to consider visitor attractions, entertainment, transportation, hospitality and good accommodation.
Globalization has added dimensions to all kinds of fields which people avail to intermingle with one another in a better way. Although globalization is generally talked about in a positive manner and the positive consequences are overemphasized upon, yet the fact that globalization has exposed the world to a whole range of challenges cannot be denied.
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