Siemens 2009 Annual Report Download - page 43

41
 Our structure
48 Pushing innovation to new heights –
Our Inventors of the Year
50 Integrity and responsible value creation
ing the strategic consequences early on. A few years ago, we geared our portfolio to four megatrends:
demographic change, urbanization, climate change and globalization. These trends are already influenc-
ing the way we live today, and their impact will increase substantially in the decades to come. By bundling
our business activities into the three Sectors Industry, Energy and Healthcare, we also set the stage for
capturing leading positions in attractive growth markets. In addition, we adapted our management struc-
ture to the requirements of our revised portfolio by implementing the most comprehensive company reor-
ganization in  years. For example, the CEO principle that we introduced for our top three management
levels ensures that the responsibilities for all our business activities are clearly defined – the basic prereq-
uisite for achieving a lean, rapid-response organization. To further foster our employees’ motivation, sense
of personal responsibility and entrepreneurial commitment, we began offering our entire workforce –
from non-management personnel to members of our Managing Board – greater opportunities to share in
our company’s success. To ensure our competitiveness, we launched programs to boost the efficiency of
our administrative and procurement processes. And these programs have proved successful – as the cost
reductions we’ve achieved demonstrate. In other positive developments, we settled the lawsuits against
our company quickly and successfully. We also set up compliance structures and processes that are now
the benchmark for companies everywhere in the world. In short, we took action even before the crisis hit
to make our company faster, more efficient and more customer-centric. Today, we’re an integrated tech-
nology company organized into three Sectors and a large number of Regional Companies, which are
grouped, in turn, into  Regional Clusters. Our businesses are supported worldwide by efficient IT and fi-
nancial solutions. Our innovations are providing high-tech solutions to the challenges of our day. And our
excellent employees, innovative strength, worldwide presence and strong brand identity are making us a
trusted partner to our customers – even in challenging times.
However, we’re not resting on our laurels. In keeping with the tradition inaugurated by Werner von
Siemens, we’re convinced that if you’re not going forward, you’re going backward. The current financial
and economic crisis is offering a world of opportunities that we intend to rigorously exploit. Our goal is to
achieve profitable long-term growth and outpace our competitors. But to reach this goal, three key condi-
tions must first be fulfilled:
Pioneers of their time – Back in , Siemens engineers aboard the cable ship Faraday
laid the first direct transatlantic telegraph cable, linking Ballinskelligs Bay in Ireland to
the coast of Nova Scotia in Canada. In , Siemens engineers developed, manufac-
tured and supplied an innovative high-tech wind turbine for a pilot project off the coast
of Norway. Anchored in  meters of water, the floating turbine is heralding a new era
in wind power (see also page  of Book I).