Siemens 2014 Annual Report Download - page 18

Goals
Only those who set demanding goals can be successful over the long term.
That’s why we’ve linked the success of Vision 2020 to the attainment of
seven overarching goals – goals that will provide us with a yardstick and a
compass on the path to 2020. In particular, we aim to:
Execute fi nancial target system
We’re rigorously implementing our financial target
system in order to consistently achieve our capital
effi ciency target – an ROCE of 15% to 20%. Our aim is
to grow faster than our most relevant competitors.
Implement stringent corporate governance
We’re simplifying and accelerating our processes while
reducing complexity in our Company and strengthening
our corporate governance functions. In this way, we plan
to reduce our costs by roughly €1 billion. The savings are
expected to be mainly effective in .
Create value sustainably
We’re tapping attractive growth fi elds and getting
those businesses that haven’t yet reached their full
potential back on track.
Goal:
Tap growth fi elds and
get underperforming
businesses back on track
Goal:
ROCE of
15%
to
~
Goal:
Cut costs by
€1
billion
Goal:
Growth
most relevant
competitors
20%
 Our path