The Firm (non-US multinational enterprise)
Background information
(i)Give a brief history of the firm
Siemens Automation Company was established in Berlin on 12th October by Werner von Siemens and Johann Georg Halske (Patel,2019). At the start, the firm concentrated on electrical engineering and telegraphy. In the late 19th and early 20th centuries, Siemens expanded its industrial operations and ventured into new markets such as communications, electrical conveyance, and generation of power (Britannica ). Siemens created extensive mechanization and regulator technologies developments in the 1920s, providing solutions for production and industrial processes (Patel,2019). The business created tools and control systems that automated various procedures, boosting production and industrial efficiency. Siemens participated in several defense initiatives during World War II and contributed to military communications and technology. The business experienced difficulties after the war but swiftly recovered by focusing on developing and strengthening its global footprint(Siemens,2023). Siemens improved its automation products throughout the ensuing decades. With operations in numerous industries and providing a wide range of solutions, including automation and control technology, Siemens AG has developed over time into one of the world’s most prosperous corporations.
(ii)What industry (or industries) is this firm in?
Programmable logic controllers (PLCs), human-machine interfaces (HMIs), industrial communication networks, and sophisticated control systems are among the industrial automation products they offer. With the help of these technologies, enterprises may improve operational efficiency, increase manufacturing output, and uphold strict quality control.
Siemens automation also deals with process automation. In this, the company offers solutions for commodities, for instance, gas, power generation, and treating water. Some of the resolutions entail how to increase safety and improve dependability. The firm’s process automation skills aid in governing compound industrial procedures, ensuring the company maintains quality standards. The company also deals with the energy industry, offering automation and monitoring structures for electrical circulation networks. Their innovations aid in ensuring that there is sustainability in energy infrastructure (Association for Advancing Automation,2023). Siemens also extends its knowledge and skills in creating technologies, giving automation resolutions, and offering building management structures. The company also plays a critical responsibility in the automation of factories. The company provides goods and amenities that enable processing processes and create good communication between equipment and the manufacturing line. Siemen aids firms, for instance, electronics, boost their general efficiency and lowers their downtime.
iii. What products (or product divisions) do the firm have?
Siemens is well recognized for programmable logic controllers that aid in the automation procedures, controlling equipment, and monitoring the manufacturing processes. They have distinct communication lines and programming choices that qualify them for various applications. The company offers human-machine interface resolutions, enabling users to interact competently with the automation structures. The company also provides industrial communication resolutions to ensure no hitches in information exchange among different components of an automation structure(Siemens,2022). These communication networks ensure convenient information circulation and facilitate control and monitoring of information.
Siemens provides drive technology. These entail structures, for instance, the drive structures, as well as motor regulator resolutions that aid in modifying the speed, minimizing the energy being used, and ensuring that all the operations go through swiftly. The company also offers motion control structures that regulate the motion of motors. The company further provides various process instrumentation goods such as sensors and transmitters. Siemens incorporates innovative safety expertise into its mechanization structures, guaranteeing amenability with the safety canons.
(iv)How successful is the firm (provide market share, profitability, rations, etc. as support)
Siemens is one of the largest and most successful companies in the globe. The firm’s automation solutions have gained widespread firm adoption. These have increased their market dominance and improved their financial performance. In 2021, the company’s net income was evaluated to be 1.5 billion dollars(Siemens AG,2022). Also, in 2021, the profit was 1.8 billion dollars, with a profit margin of 14.6 percent (Siemens AG,2022). For many years the form has reported robust financials. The company has earned a good market share due to its good reputation for offering consistent and developed automation solutions around the globe.
(v)What is the firm doing regarding corporate social responsibility and sustainability?
Siemens Automation is committed to creating eco-friendly goods and services that assist users in lowering their carbon footprints. The business strongly emphasizes energy efficiency and aims to develop solutions that allow for more resource- and sustainably-conscious manufacturing operations. To promote sustainability, Siemens Automation emphasizes innovation. By making research and development investments, the company creates cutting-edge solutions that support environmentally friendly business practices across all industries. By reducing greenhouse gas emissions, water use, and waste production in its operations, Siemens is dedicated to minimizing its environmental effect. Siemens encourages diversity and works to foster a welcoming workplace environment that values and celebrates individual differences. Regardless of gender, ethnicity, or origin, the organization supports equal chances for all employees. To give back to the communities it serves, Siemens Automation participates in several social programs. These programs might assist activities for community development, healthcare, and education. The corporation upholds solid ethical standards when conducting business and interacting with stakeholders. Siemens encourages honesty and openness while ensuring all rules and laws are followed. To ensure sustainability concepts are applied across the supply chain, Siemens Automation actively encourages suppliers to adopt sustainable practices and follow ethical standards. The company is involved in offering automation solutions for renewable energy initiatives like wind farms and solar power plants. The business aggressively supports renewable energy development, which helps the world move toward a low-carbon future.
References
Siemens AG .(2022). Strong operational performance and growth – Outlook confirmed. https://press.siemens.com/global/en/pressrelease/strong-operational-performance-and-growth-outlook-confirmed
Siemens .(2022) . Siemens Xcelerator – Embrace the Digital Future. https://www.plm.automation.siemens.com/global/en/products/
Association for Advancing Automation. (2023).Siemens Industry, Inc . https://www.automate.org/companies/siemens-industry-inc
Britannica. Siemens AG German Company. https://www.britannica.com/place/Munich-Bavaria-Germany
Siemens .(2023) .Siemens AG’s history, profile, and corporate video. https://www.companieshistory.com/siemens/
Patel .S .(2019).The Big Picture: Siemen’s Corporate History. https://www.powermag.com/the-big-picture-siemens-corporate-history/
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