Global Strategic Management
Strengths
Siemens has a number of key strengths that have allowed them to become one of the largest industrial conglomerates in the world. The first key strength is their focus on innovation. Siemens has always been driven be engineering, and their ability to produce not only better products but to continuously improve those products is one of the reasons for their continued success. The company has utilized innovation to spur significant organic growth in recent years (Siemens, 2008).
To support their engineering competency, Siemens has developed an extensive in-house training program (2008 Annual Report). This helps the firm to develop the talent it needs to remain at the fore of the innovation curve. The company trains workers through a formal facility in Bavaria, where the company is headquartered. Training, however, has long been a fundamental strength of Siemens because it helps to attract talent as well as develop it.
Talent is also attracted by the company's solid reputation. As one of the oldest technology and engineering firms, Siemens has established a reputation for excellence in the field. This attracts innovators, and it also helps to attract business. The long record of success contributes to the company's reputation and helps to secure business deals as a result.
For Siemens another strength is its profits. Although profit projections for the upcoming year are generally soft, the company has remained profitable even during the downturn, when rivals such as General Electric and Philips NV have struggled (Schafer, 2009). This provides Siemens with a foundation of strength.
Weaknesses
Despite its numerous strengths, Siemens faces some internal obstacles that are hindering its ability to fully leverage those strengths. The first major weakness is the company's size and structure. The matrix structure is notoriously difficult to manage. The result is that the company often fails to identify opportunities to improve. Additionally, it takes longer for areas of weakness to be identified and dealt with. One recent example of this is with the enterprise product unit,...
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