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1、Presentation Group 5Siemens AGPresentation OverviewSiemens Products and MarketsDegree of TransnationalizationImpacts of National OriginDeparture from National OriginIs Siemens a Global Firm?Products and MarketsOur 428,000 employees work on products in 1,700 locations in nearly every country on earth
2、.(S Global Website,2010)Market Development since 2000Market Development since 2000(Source:Datamonitor,2009)Product Development since 2000Industry Magnet Technology Building Technologies Transportation IT Infrastructure Rail Automotive supplyEnergy Water Filtration Air pollution control systems Renew
3、able Energy Wind energy Water power Steam turbine-generator Solar pannel planHealthcare Immunodiagnostics Diagnostics products(Source:Datamonitor,2009)M&A Activity by Sector since 2004252 Industry Energy Healthcare(Source:S,2010)Degree of TransnationalizationLocation-Production-Sales-AssetsR&DManage
4、ment Teams-Head Office-SubsidiariesMarket Listings&OwnershipLocation:Production,Sales and Assets(Siemens Company Presentation,September 2008)Research&DevelopmentEurope,CIS,Africa,Middle EastAmericasAsia,AustraliaWorldwide shareWorldwide shareWorldwide shareR&D Employees20,20066%7,40024%3,20010%Major
5、 R&D Facilities9453%5732%2515%Europe,CIS,Africa,Middle EastAmericasAsia,AustraliaWorldwide shareWorldwide shareWorldwide shareR&D Employees20,20066%7,40024%3,20010%Major R&D Facilities9453%5732%2515%Employees243,00060%92,00023%70,00017%Supervisory Board MembersThyssenKrupp,Saint-Gobain,Allianz,Trump
6、f,MAN,AmsphereSenior ManagementP.LscherW.DehenJ.KserB.KuxH.RequardtS.RusswurmP.SolmssenAge 51555155544554Siemens Employment prior to SM1726022160NationalityGermanGermanGermanGermanGermanGermanUSAEducationBusinessBusinessBusinessBusinessTechnical StudiesTechnical StudiesLawSubstantial International E
7、xperience(5)1.Domination of HQ nationals2.Internal promotion vs.External hiring3.Business/Law vs.Technical Studies4.International ExperienceStock Market Listings12th March 2001:NYSE1999:Swiss ExchangeThe listing of Siemens shares.is the logical consequence of the companys globalization drive,company
8、 CEO Heinrich V.Pierer said in a statement.Listing here also gives Siemens an additional currency for potential acquisitions and strategic investments.“(CNET News,13th March 2001)1990:London Stock Exchange1899:Deutsche Brse(Source:S Share Information,2010)Ownership Structure5,3%Siemens FamilyEstimat
9、ed 9%Employees shareholdingsImpact of National OriginStyle and TrajectoryManagement in HO and SubsidiariesHistoryNational Characteristics:GermanyOrganized and production-orientedLong-termist approach(Brsch,2004)Family ownershipCommunitarian approach towards problem resolutionDeveloped industrial net
10、works between buyer and supplier firmsQuality production strategies(Streeck,1997)Distinctive pattern of corporate controlStrategic HRMImplications of German Origin for TransnationalizationImplications of German Origin for TransnationalizationGeography and industries:Lesser geographical reach(predomi
11、nately Western Europe)German companies are prone to locate in geographically contiguous and culturally related countries where the German production model can be reproduced with relative ease(Lane,1998)Narrow spectrum of industries(High-skill medium-and high-technology industries)Internationalizatio
12、n strategies:High national investments compared to transnational volumeDeeper national embeddedness and dependence on home-country institutional structures(Lane,1998)Preference for exporting over FDI(Dunning,1979)High volume of strategic alliances and co-operations(Hagedoorn and Schakenraad,1990)Bro
13、wnfield internationalization and long-term transformation of subsidiaries(Kristensen and Morgan,2007)Decision making and core functions:Decision making centred in home-countryControlling positions remain in the hands of home country nationalsStrong reliance on the home base:core functions in home co
14、untry(Dorrenbacher,2004)R&D activities remain primarily in Germany(Lane,1998)1991:Rolm UKSiemens:History of TransnationalizationSiemens:History of Transnationalization19th century20th century21st century1848:Foundation1855:Russia1858:Britain1879:Austria1892:US1945:ExpropriatationForeign agencies in
15、key markets around the world1923:JapanMid 1950s:Regainingforeign companiesGlobal expansion of markets predominately in US and Asian Pacific region1998:Westinghouse2001:Listing NYSESiemens:Style and Trajectory of Siemens:Style and Trajectory of TransnationalizationTransnationalizationM&A ActivityGree
16、nfeeld ActivityJoint Venture/CooperationMajor Exporting Activity(Source:Datamonitor,2009)Global Expansion since 2000Siemens:Style and Trajectory of TransnationalizationBrownfield internationalization strategy32 bn Euro over the last 10 years(Siemens,M&A Projects Presentation 2009)Siemens:Style and T
17、rajectory of TransnationalizationCross-boarder acquisitions(von Pierer&Javidan,2002)Full integration of new subsidiaries(von Pierer&Javidan,2002)Strong basis in USA for over 100 years,focus increased since being listed on NYSEPrimary business functions remain in Germany and nearby European countries
18、(Lane,1998)German companies appear to pursue global integration only very partially or not at all.Thus,Siemens aims for only some co-ordination within continents for its non-European investment(Lane,1998)Management in HO and subsidiariesManagement in HO and subsidiariesGerman nationals hold top mana
19、gement positionsGerman language(Fredriksson et al,2006)Communication and knowledge sharing between headquarters and subsidiaries “Siemens ShareNet”Different degrees of autonomy accross subsidiaries Close coupling of European subsidiariesTight control over new subsidiariesHigh autonomy of US and Aust
20、ralian regional headquartersSiemens Australia&New ZealandSiemens has been creating and applying innovative technology solutions in Australia and New Zealand for more than 135 years.Headquarters in MelbournePrimary product areas include:water,energy and environment.R&D budget of A$9billion.More than
21、2,500 people at 87 locationsAustralian model of internationalization is very similar to USA where headquarters have a degree of autonomy and local expertise is of great importanceDeparture from National OriginsGermanness vs.Anglo-SaxonizationFinance&OwnershipInvestor RelationsManagement StructureOrg
22、anizational StructureHR PoliciesCulture(Ferner&Quintanilla,1998)(Ferner,Quintanilla&Varul,2001)Finance&OwnershipFocus on increasing share price(Listing on NYSE)Growing ownership of institutional investors Wiedely dispersed ownership structureLittle influence of the“Hausbank”Cross ownership shielding
23、 the company from financial market pressures(Brsch,2004)Investor RelationsTransparencyIndividual divisionsMore pressure for poorly performing subsidiariesAmerican Business PracticesUS GAAPStocks as acqusition currencyOrganizational Structure1998:Introduction of Economic-Value-Added concept as the ne
24、w management and controlling instrument1999:Introduction of management stock option plan 2008:Organizational restructuringLargely independent sectorsGreater regional autonomyManagement StructureInternational experience as criterion for senior managementDegrees from internationally renowned Business
25、Schools External hiring from other technology companies/strategy consultanciesCentral management functions remain located in home country and are held by home country nationalsSlow and incremental decision makingHR PoliciesInternational training schemes for top employeesHost country nationals hold k
26、ey positions in subsidiariesPerformance Evaluation SystemContinuing stakeholder orientation:Employee share programmeCo-determinationRecruitment for corporate top management takes place in GermanyComply to foreign labour market structures(e.g.62%of US workforce without training or related degree)Cult
27、ureFormalization and publication of organizational culture through mission statements,visions,etc.Communication systemsPromoting continuous learning through expert training and an environment which is built upon innovative thinking.Conclusion:Is Siemens a Global Company?According to Rugmans(2003)typ
28、ology Siemens can be characterised as a home-triad based MNE.GlobalBi-regionalHome-triad baseHost-triad baseAt least 20%of sales in all 3 parts of the triadLess than 50%of sales in home-triad but at least 20%of sales in 2 parts of the triadOver 50%of sales within home-triadOver 50%of sales within ho
29、st-triad(Rugman,2003)Siemens Sales 2001Bartlett&Ghoshal(1989)and Perlmutter(1969):Does Bartlett&Ghoshal(1989)and Perlmutter(1969):Does Siemens fit?Siemens fit?Bartlett&Ghoshal(1989)suggest 4 categories for MNCs(Multinational,global,international and transnational).Siemens displays characteristics in
30、dicitive of both multinational and internationals.EthnocentricPolycentricGeocentricAuthority and control lie predominantly with HQIdentifiably GermanCommunication flows from HQ to subsidiariesRecruitment of host country nationals who then remain within their specific subsidiaryFocus on developing un
31、iversal standards with local legitimacy(Perlmutter,1969)The Transformation ProcessSiemens is gradually shifting towards an intergrated approach in its growth strategy.(Krishnan,2006)Conclusion“With a presence in some 190 countries,we can offer customers fast,local,tailor-made solutions.And that give
32、s us a decisive competitive edge.”(S)Brsch(2004)states that Siemens follows a multi-domestic strategy.This supports our analysis which suggests that Siemens is an MNC with a“complex mixture of change and continuity“(Brsch,2004).Therefore Siemens cannot be categorised into a particular bracket.It has
33、 characteristics of various elements of research by Bartlett and Ghoshal,Perlmutter etc.Reference ListBooks and JournalsBartlett,C.A.and Ghoshal,(1989).Managing across borders:The transnational solution.Boston,MA:Harvard Business School Press.Brsch,A.(2004).Globalization,Shareholder Value,Restructur
34、ing:The(Non)-Transformation of Siemens.New Political Economy,9(3),365-387.Ferner,A.,Quintanilla,J and Varul,M.Z.(2001).Country-of-origin effects,host-country effects,and the management of HR in multinationals:German companies in Britain and Spain.Journal of World Business,36(2),107-127.Ferner,A.,&Qu
35、intanilla,J.(1998).Multinationals,national business systems and HRM:The enduring influence of national identity or a process of“Anglo-Saxonisation”?International Journal of Human Resource Management,9(4),710731.Fredriksson,R.,Barner-Rasmussen,W.,Piekkari,R.(2006),The multinational corporation as a m
36、ultilingual organization:the notion of a common corporate language.Corporate Communications:An International Journal,11(4),406-423.Krishnan,R.T.(2006).Subsidiary Initiative in Indian Software Subsidiaries of.MNCs,Vikalpa,31,(1),61-71.Kristensen,P.and Morgan,G.(2007).Multinationals and institutional
37、competitiveness.Regulation&Governance,1,197212.Lane,C.(1998).European companies between globalization and localization:a comparison of internationalization strategies of British and German MNCs.Economy and Society,27(4),462-485.Perlmutter,H.V.(1969).The Tortuous Evolution of the Multinational Corpor
38、ation.Columbia Journal of World Business,1969,9-18.Rugman,A.M.(2003).The regional solution:Triad strategies for multinationals,Business Horizons,46(6),3-5.Von Pierer,H.and Javidan,M.(2002).Siemens CEO Heinrich von Pierer on cross-boarder acquisitions.Academy of Management Executive,16(1),13-15.Reference ListReference List