Electronic Products To Satisfy Clients – Siemens Company

Globalization for Siemens as a company

Discuss About The Electronic Products In Order Satisfy Clients.

Siemens Company is a multi-billion firm which is located in the United Kingdom with its corporate headquarter at Munich in Germany. The firm deals with majorly with electrical and electronic products in order to satisfy its clients. It is both an electrical and electronic business organization with over 500,000 stocks of competence working for it all over the world that are managed centrally by its executives in their various headquarters. According to (Wrights 2018) the siemens company runs over 100 factories that deals in a number of products that varies from each other.  

The Siemens Company is across an economical firm that participates in some industries for instance transport, information technology, electronics, and health (Sridhar, 2015). Its products influence almost our entire livelihood starting from simple electronic devices to sophisticated machines such as trains and traffic lights control that meet the world-class needs.  Their products have gone an extra mile or even taking major roles in other fields such as health where most of the life support machines and other complicated devices are used, the transportation sector, ICT healthcare and government and government agencies thus making it a multi-sector business.

Globalization refers to the process of interaction and integration between people of different races, firms working across cultures and nations (Boettcher, 2013). This is a process that is influenced greatly by international trade. Trying to make the world like a global village where goods and services can be accessed easily and management being done at a fur off the pace. Globalization is not a new issue for Siemens Company (Lim, 2016).  It carries its activities across the world in over 190 counties and states thus making it multinational company. You may wonder how the company manages to meet the local demands (Boettcher, 2013). However, the key point of this company is in meeting the local needs which facilitate its performance (George & Anand Kumar, 2017). Thus, decisions made from all over the nation is in line with the interests of the stakeholders of the company. What makes this multi-national company remain outstanding is the decision of not decentralizing its manufacturing factories to the various nations that it carries its activities. Rather, it is done at a centralized place where the products are designed and manufactured effectively since expertise and specialization is applied.

In other words, goods can be transported to any place within the substations of the company where it is required (Schnebel & Bienert, 2014. Being involved in international business is quite advantageous for the firm, but some ups and downs also may occur from one nation to another, for instance, risks of currency fluctuation. The goods and services distributed to various places may vary in prices due to the difference in the weight of currency.it is not an easy task for this company to operate globally and remain as one of the topmost performing organization and a darling to many local and international clients.

Impacts of globalization on Siemens company

Having worked globally for some years in the business arena, Siemens company has largely been influenced by globalization in some ways. Firstly, talking about ethical policies. The company has a well established ethical communication system and policies that govern its daily activities. The company follows an ethical culture where all employees are responsible for their actions, and there is a system of transparency and teamwork. The stocks of competence are encouraged to think outside the box in order to come up with more suitable solutions to solve the client’s problems.

In addition to this, the company has got an enhanced system of governance. Despite the fact that the company runs 0ver 100 factories all over the world, the firm as disseminated some executives who see into it that the policies of the company are implemented. Each organization in the company has been given the mandate to find the best way possible to satisfy the needs of the local people. The effective management system is as a result of globalization.

The company has also experienced increased social impacts. The interaction with some companies outside its environs has enabled the company to incorporate workers from all over the world which has enhanced diversity. In this way, the company has facilitated integration and helped curb racism.

Every business organization desires to posit a good image that builds the reputation of that firm. Globalization has helped build the reputation of Siemens company. The company’s image portrayed in the world is of high value which draws many customers towards it.

The increased risk of other generic companies in the global business acts as a threat to the Siemens company. Some companies produce generic products that are much cheaper thus calling for the Siemens company to apt its delivery to its clients to outdo these competitors. This competition has also caused the company to utilize its scarce resources to deliberately produce high-quality products that distinguish the company from the competitors thus help in customer retention.

Currency fluctuation is also another threat that the Siemens company faces. The value of goods may rise either in the UK, and this may cause the company to go at a loss when the goods imported from their other company are sold. Currency fluctuation may also happen due to the dealing with several countries. The price of the dollar may rise or fall, and this will intern disrupt the activities of the company.

How have other companies disrupted the works of Siemens?

As the ability motivation theory say that the performance of the organization is highly linked to the way its stock of competence is being managed, that is providing the necessary ability, motivation, and opportunity to the workers so that they may perform at their optimum. Siemens company holds great value to it scarce resources and maximizes on it to produce the best quality products to its customers all over the nation. It utilizes all the globally accepted human resource management technics to manage all of its workers. Providing an opportunity for its workers to develop themselves career-wise (Boettcher, 2013). Offering further training for postgraduate courses and also giving incentives such as healthcare insurance and education to the children. The company maximizes the ability skills and talents of its workers to come up with an outstanding commodity that deliberately distinguishes the company from the rest of the competing firms.

Despite the economic levels and the rate of development, to ensure its continuity in the market, the Siemens company concentrates on three crucial issues to be addressed on globalization. Firstly, achieving financial stability. To do this, the company, company has ensured that it maximizes on its scarce resources to produces high-quality goods that compete favorably in the market. Several sources have been put underway which ensures that the company does not become bankrupt such as accountability and transparency, maximizing the ability.

Secondly is economic growth. No business would wish to remain stagnant. Some mechanisms have been applied by this organization o ensure that it continues to expand economically. These include giving further training to its workers to u

Increase their skills and competence which will enhance the growth of the organization. The company. The company has also set up an excellent research institution at Korokke where every need can is met. This has further been enhanced by the company engaging itself in some economic activities such as health industry, transportation among many others o as to diversify it (Boettcher 2013)

Lastly, when looking at the living standards of the individual across the continents, the company has taken it to be its priority to produce products that meet the demands of the customers at all times. The company researches within its area of locality and ensures that it does not tamper with the cultural beliefs of its clients and also works out to give services that satisfy the people.

As mentioned earlier, meeting the specific demands of the clients is what distinguishes this company in the global market. It is stationed work together to form a system thus every station has been mandated to specialize towards the demands of the clients Schnabel, E., & Bienert, M. A. (2014)

Crucial issues surrounding globalization

 Despite the lingering challenges that come with working globally, the company has come up with various ways that enable it to remain at the top competitively (Löscher, 2012). The first strategy is the adoption of sound microeconomic policies whereby the company is capable of managing its capital and funds despite its enormous nature.

The company has also employed technological framework in its dealings which ensures that’s it can control all its assets all over the world (Nolan 2014). The use of high-tech computers that transmit data at a faster speed and also video conferencing which influences the company to participate in decision making despite the huge distance between the executives.

The company has also taken the step of employing qualified stocks of competence who are talented and eager to work (Ewing, 2017). A rigorous system of interviewing job seekers is used. In addition to this, the company also provides postgraduate training opportunities to its workers thus carrier development, in the end, the services to the company becomes of high quality.

To get the best from the market, the company has employed skilled workforce who carry out good research on the market and gives out the best advice to which the company should follow so to minimize on losses and maximize their profit levels.

Some benefits stand to be enjoyed by the company and the clients from the proposed strategies to be undertaken by the firm (O’Brien, 2015). Talking about the technological advancements, this will act in favor of the company as it will be able to produce goods and services that are current and satisfy the needs of the market. This arises due to the use of resent technology (Hsueh, 2016). The ethical policies and sound governance that are adopted by the company will help mitigate the bad acts within the company (Boettcher, 2013). It will help provide a good culture in the organization that will foster productivity and management of the firm.

Lastly, the employment of market research will boost the growth of the company as the company will be updated with the issue that needs to be taken care of and will help the company to find a niche that can facilitate its growth.

Despite the prevailing growth spurt of the firm, the firm needs diversify its services. The strategy will help in increasing the number of customers. Value addition can also be effective thorough hiring technical expertise. They will help in offering high-level services to the clients. What will make this business organization conspicuous is the way it will specializes in getting new technics of enhancing the living standards and work. The company hence needs to adopt the utilization of its scarce resources to meet the demands of their local and international clients. This way, it will greatly influence the economy of the UK by creating employment opportunities and the revenue to the government. The most utilized technic by the company to remain at the top in the business arena is its ability and the emphasis involved in providing a variety of high-class services and goods to its clients across the world.

Conclusion

Siemens has the aim of becoming the biggest multinational business that works around the clock to provide the necessary goods and services that meet the demands of the clients across the nations. It plays a big part in providing employment not just to one nation but worldwide thus improving the living standards of individuals. Though the firm prides in the kind of services it offers, there are some challenges that this firm faces such as currency fluctuation and the need to meet the specific demands of clients worldwide. The company has enabled the UK economy to grow ranking third worldwide, and the companies’ structure enables it to look after local interests while drawing on global resources. Speaking generally, globalization has promoted the expansion and development of the UK who own Siemens thus being ranked third globally as a country with the big economy.

References

Boettcher, T. t. (2013). Formation Of The IWNC: Businesses United. Techniques: Connecting Education & Careers, 88(6), 30-33.

Donzé, P. (2015). Siemens and the Construction of Hospitals in Latin America, 1949–1964. Business History Review, 89(3), 475-502. 

Ewing, J. (2017). SIEMENS’ CULTURE CLASH. Businessweek, (4019), 42-46.

Fritsch, S. (2015). Technological innovation, globalization, and varieties of capitalism: the case of Siemens AG as example for contingent institutional adaptation. Business & Politics, 17(1), 125-159. doi:10.1515/bap-2014-0020

George, J., & Anand Kumar, S. V. (2017). ‘Going Global’: The Case of Chinese Brands. IUP Journal Of Business Strategy, 14(3), 41-57.

Hsueh, R. (2016). State Capitalism, Chinese-Style: Strategic Value of Sectors, Sectoral Characteristics, and Globalization. Governance, 29(1), 85-102. doi:10.1111/gove.12139

Lim, J. (2016). Globalization and Divergent Paths of Industrial Development: Mobile Phone Manufacturing in China, Japan, South Korea and Taiwan. Journal Of Contemporary Asia, 46(2), 222-246. 

 Löscher, P. (2012). The CEO of Siemens On Using a Scandal To Drive Change. Harvard Business Review, 90(11), 39-42.

Nolan, P. (2014). Globalisation and Industrial Policy: The Case of China. World Economy, 37(6), 747-764. doi:10.1111/twec.12197 

O’Brien, L. (2005). Transforming an Industrial GIANT. Harvard Business Review, 83(2), 114-122.

Schnebel, E., & Bienert, M. A. (2014). Implementing Ethics in Business Organizations. Journal Of Business Ethics, 53(1/2), 203-211.

Sridhar, M. K. (2015). Internationalization of Technology-based SMEs in India: Critical Factors of Transformation. South Asian Journal Of Management, 22(2), 144-166.

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