{"id":1496,"date":"2011-05-01T15:33:23","date_gmt":"2011-05-01T20:33:23","guid":{"rendered":"http:\/\/www.encoretechresources.com\/insights\/?p=1496"},"modified":"2011-07-15T15:47:01","modified_gmt":"2011-07-15T20:47:01","slug":"siemens-renewed-via-vision-and-values","status":"publish","type":"post","link":"http:\/\/www.encoretechresources.com\/insights\/2011\/05\/01\/siemens-renewed-via-vision-and-values\/","title":{"rendered":"Siemens Renewed Via Vision and Values"},"content":{"rendered":"

\"\"<\/a>Businessweek<\/a><\/em> provides an example<\/a> of why focus and inspired priorities are so important to building, or rebuilding, a business. Siemens’ return to prominence after a bribery scandal more than three years ago is a tribute to its new President and CEO, Peter L\u00f6scher, who, the magazine advises<\/a>, put first things first and is keeping them there. <\/p>\n

Vision, values and the processes to insure they are taken seriously are crucial to corporate renewal. “Being good today means you have to be better tomorrow, and even better the day after tomorrow,” L\u00f6scher says. “The biggest risk is complacency.”<\/p>\n

Evidently, complacency almost brought Siemens down. The company was run as a collection of corporate fiefdoms with little accountability (values) by divisional managers. Now, under a new management roster, it’s been restructured partly around “green” businesses (vision) .<\/p>\n

<\/p>\n

As the bribery scandal unfolded, Siemens Chairman Gerhard Cromme reached across the Atlantic “to tap the first outsider to lead Siemens in its history,” Businessweek<\/em> notes. L\u00f6scher, an Austrian, had gained highly pertinent experience heading General Electric and Merck.<\/p>\n

The Businessweek<\/em> piece doesn’t explain in any detail how L\u00f6scher implanted a new culture at Siemens, but he clearly has. Where some executives might swing to green projects as a fad or window dressing, L\u00f6escher’s team is making them pay continuing, growing returns. They’ve closed down telecommunications and information technology businesses and swung behind trend-confirming “green” ones. Today, a sizable part of Siemens “sells sustainability-focused customers everything from light bulbs to high-speed trains to factory control systems,” Businessweek<\/em> reports. <\/p>\n

“The Munich-based company today generates more than $38 billion in sales from wind power, solar energy, and energy-conserving electricity grids. Siemens also claims the lead in offshore wind turbines, a market hat has doubled in size in just the past two years. And about one quarter of its roughly 400,000 employees today are what Siemens calls green-collar workers, those who produce or market its portfolion of resource-efficient products.”<\/p>\n

Having the smarts to figure out what’s most important in world markets \u2013 the “mega-trends” L\u00f5scher refers to in the Businessweek<\/em> piece \u2013 and to get behind them in a visionary manner is key to successful management. But managers also need to be focused on disciplined, upright methods, the values piece. When you put them together \u2013 vision and values \u2013 you get a company that’s been truly renewed. Siemens’ stock, Businessweek<\/em> notes, “has surged 49 percent in a year, almost twice as much as GE’s gain.” \u2013 Doug Bedell <\/em> <\/p>\n","protected":false},"excerpt":{"rendered":"

Businessweek provides an example of why focus and inspired priorities are so important to building, or rebuilding, a business. Siemens’ return to prominence after a bribery scandal more than three years ago is a tribute to its new President and CEO, Peter L\u00f6scher, who, the magazine advises, put first things first and is keeping them […]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1496","post","type-post","status-publish","format-standard","hentry","category-business"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t