Siemens 2009 Annual Report Download - page 136

48
 Reports Supervisory Board /
Managing Board  Corporate Governance  Management’s discussion and analysis  Consolidated Financial Statements
44 Business and operating environment 63 Fiscal 2009 – Financial summary 66 Results of operations 84 Financial position
Open innovations – opening up a business to bring in the ex-
pertise of a wide range of internal and external experts in dif-
ferent areas from around the world – helps to ensure that we
continue to constantly develop and refine our cutting-edge
technology. Open innovations forms part of the Operational
Excellence element of Fit42010, as does Global supply chain
management, which is intended to boost efficiency in sourc-
ing and the supply chain throughout our Company (see “– Im-
portant corporate programs and initiatives – Supply Chain
Management initiative” and “– Non-financial performance
measures”). The Corporate Responsibility element, finally,
has seen us introduce a uniform compliance program world-
wide, with systems and processes to ensure proper conduct,
and continues to highlight both our commitment to society
and our acknowledgement of the enormous significance of
climate protection (see “– Non-financial performance mea-
sures”).
Fit42010 divides the potential harbored by Siemens as an inte-
grated technology company into four categories: Portfolio,
People Excellence, Operational Excellence and Corporate Re-
sponsibility. We have carefully targeted our Portfolio at attrac-
tive markets by means of stringent resource allocation and a
clear focus on the three Sectors (see “– The Siemens Group –
Organization and basis of presentation”). We deliver outstand-
ing value for our customers because, within the context of
People Excellence, our standard is to employ the best workers
worldwide – which is of course necessary to a high-perfor-
mance culture (see “– Non-financial performance measures”).
Diversity in our management is a key component of our corpo-
rate strategy and a fundamental prerequisite for our Com-
pany ’s long-term success. Our goal is to fill every position at
Siemens with the most qualified employee – irrespective of
factors like nationality, age, gender, background or religion.
Fit42010
Portfolio
Focus on three Sectors Industry,
Energy and Healthcare
Stringent resource allocation
Focus on organic growth and
leveraging past acquisitions
Corporate Responsibility
Benchmark in transparency
and compliance
Corporate governance
Compliance
Climate protection
Corporate citizenship
Operational Excellence
Best-in-class for all businesses
and functions through
Open innovations
Global supply chain
management
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ROCE of 14 – 16%
Optimized capital structure
Cash conversion rate
“1 – growth rate”
> 2 x GDP growth
Best-in-class margin ranges
SG&A reduction of 10%
Performance
Fit4 2010
People Excellence
High-performance culture
Global diverse talents
Leadership culture & development
Expert careers
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