Siemens, the German
multinational engineering and electronics conglomerate,
maintains its market leadership position by remaining at the forefront of
R&D in the energy, industry, healthcare and infrastructure sectors. Joe
Kaeser, CEO since the summer of 2013, outlined his "Siemens Vision 2020" in May and set a new path to driving
growth and strengthening Siemens' core
business portfolio. Since then, Siemens has sold a number of businesses
and has reorganized to sharpen its ability to deliver. It plans to build upon its
strengths in electrification, automation
and, in particular, digitalization.
The use and application of smart data is
proving to be the new competitive currency in most of the categories in which Siemens
operates and this presents a host of opportunities upon which it can capitalize.
gas turbines, for example, are equipped with
sensor technology, can monitor and optimize their performance, and can anticipate
when servicing is due. Siemens PLM (product lifecycle management) software is described as being "an information strategy" and enables
businesses "to make unified, information-driven decisions at every stage in the
product lifecycle." (Siemens' next-generation software played a role
in the success of NASA's Mars Rover Curiosity
a few years ago).
Siemens is also leveraging data from its healthcare
businesses to enable medical professionals to better understand illness, modify
treatments and improve outcomes. Overall, the brand is staying ahead of competitors by
investing in future technologies and by using analytics to drive such investments.
In terms of challenges, Siemens needs to ensure internal clarity is established
around its forward-looking vision in order to reassure its employees and secure
collective buy-in as the organization moves forward.