BMW 2009 Annual Report Download - page 233
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57
Topic four Efficient capital
Does that mean no area of the company will be spared?
Mr. Eichiner
No, we aren’t using short-term cuts across the board
to make those economies, but long-term strategies.
We have not cancelled a single innovation programme:
We are not sacrificing the future to save costs. Instead
what we have done, for instance, is discuss making the
supply chain even more efficient with our suppliers.
We have switched our vehicle development to a modular
system with components that can be used for different
models. That is the decisive difference between
short-
sighted cost-cutting measures and long-term improve-
ments in efficiency.
Would you say the BMW Group is a different company now than it
was before the crisis?
Mr. Eichiner
We are definitely more efficient today; stronger, faster,
more open and even more focused on our customers
than we were before. But the reasons for that are not to
be found in the crisis, but in our Strategy Number ONE,
which we developed back in 2006 / 2007. If you remem-
ber, back then no one saw the financial crisis coming.
Thanks to Number ONE, when the crisis did erupt, there
was no need to discuss fundamentals. Everyone in the
company knew what had to be done.
Was Strategy Number ONE damaged by the crisis at all? Did you have
to adapt your strategy to new realities?
Mr. Eichiner
On the contrary: Number ONE was instrumental in our
company weathering this crisis better than others. One
of our strategic goals is to boost profitability – and that
pays even greater dividends in times of crisis. Another
is the development of new markets and technologies.
We have strengthened our involvement in China and
India – in markets where we expect to see exceptionally
strong growth. Our Efficient Dynamics innovations,
which have already secured us a leading position in
the premium market today, are another example. And
“ Our core business is profitable. That gives the BMW
Group an entirely different risk profile than many of our
competitors.”