Siemens 2014 Annual Report Download - page 184

108 A. To our Shareholders 131 B. Corporate Governance 171 C. Combined Management Report
172 C. Business and economic environment
187 C. Financial performance system
193 C. Results of operations
205 C. Financial position
210 C. Net assets position

We have linked the success of Vision  to the attainment of
seven overarching goals:
>
Implement stringent corporate governance: We want to
simplify and accelerate our processes, while reducing com-
plexity in our Company and strengthening our corporate
governance functions. We expect that these measures en-
able us to reduce our costs by roughly €  billion. The savings
are expected to be mainly effective in fiscal .
> Create value sustainably: We are tapping attractive growth
fields and getting those businesses that have not yet reached
their full potential back on track.
>
Execute financial target system: We are rigorously imple-
menting our financial target system.
>
Expand global management: To reflect our global orienta-
tion more strongly in the future, we want more than  % of
our Division and Business Unit managers to be based outside
Germany.
> Be partner of choice for our customers: We want to be our
customers’ partner of choice. To measure customer satisfac-
tion, we use the Net Promoter Score (NPS) – a comprehensive
customer satisfaction survey that we conduct every year. Our
goal is to improve our score by at least  %.
>
Be an employer of choice: Highly committed and satisfied
employees are the basis of our success. We are – and want to
remain – an attractive employer. That is why we conduct a
global engagement survey to measure employee satisfaction.
In the categories Leadership and Diversity, we aim to achieve
an approval rating of over  % on a sustainable basis.
> Foster an ownership culture: In the future, our employees
will have an even greater stake in their company’s success.
We want to increase the current number of employee share-
holders by at least  %.
C... STRATEGIC FRAMEWORK
We have defined a comprehensive strategic framework that
integrates the key fields of company management. These key
fields are:
> Ownership culture;
> Customer and business focus;
> Governance; and
> our management model “One Siemens.”
a) Ownership culture
One engine of sustainable business is our ownership culture,
in which every employee takes personal responsibility for our
Company’s success. “Always act as if it were your own Company” –
this maxim applies to everyone at Siemens, from Managing
Board member to trainee.
b) Customer and business focus
We expect that the megatrends digital transformation, global-
ization, urbanization, demographic change and climate change
will provide growth opportunities. We are focusing on our posi-
tioning along the value chain of electrification. This is where
our core business lies. From power generation to power trans-
mission, power distribution and smart grid to the efficient
application of electrical energy – in every one of these inter-
related fields, electrification, automation and digitalization are
the key business drivers.
> Power generation: The field of efficient power generation –
encompassing conventional and renewable energy sources
as well as comprehensive services – is addressed by our
Divisions Power and Gas, Wind Power and Renewables, and
Power Generation Services.
>
Power transmission, power distribution and smart grid:
Solutions for power transmission and distribution as well as
technologies for smart grids are all bundled at our Energy
Management Division.
>
Energy application: Our Divisions Building Technologies,
Mobility, Digital Factory and Process Industries and Drives
are delivering technologies for the efficient application of
energy in building technology, transportation and industry.
>
Imaging and in-vitro diagnostics: Healthcare is responsible
for our medical imaging and in-vitro diagnostics businesses.
In all areas related to project financing, Financial Services is a
reliable partner to our customers.
We want to set clear priorities for resource allocation and
address promising growth fields, for example:
> Flexible and small gas turbines;
> Offshore wind power;
> Distribution grid automation and software;
> Urban and interurban mobility;
> Digital-twin software;
> Key sectors in process industries;
> Image-guided therapy and molecular diagnostics; and
>
Business analytics and data-driven services, software and
IT solutions.
Flexible and small gas turbines: In the area of power genera-
tion, the trend is increasingly toward decentralized energy
supply. Customers worldwide are relying more and more on
individualized energy supplies and demanding tailor-made
solutions. As a result, we see major growth potential in the
field of flexible and small gas turbines.