Globalization of Clean Energy Technology †Free Samples to Students

Question: Discuss about the Globalization of Clean Energy Technology. Answer: Introduction Siemens is German engineering company with its headquarter in Europe found in 1847. It is one of the largest industrial manufacturing companies in Europe with its branch spread worldwide. The company and its subsidiary approximately employ more than 372000 people globally and earn global revenue of around 83 billion (in 2017). The company is listed in the Euro stoxx 50 stock market indexes. Globalization refers to the trend in which the organizations develop international influence and operate with the international market (Rothaermel, 2015).. Siemens being an multinational organization operates more than 190 separate countries. The goods are manufactured in Germany and exported through ships to all parts of the world. In the span of time of 20 years, global volume of export has increases four times. In 2016, goods worth US$16 trillion were exported Globalization faces many challenges in Siemens, in the discussion the various risks opportunity and the organizational structure of Seim ens have been talked about (Vishnevskiy, et al., 2015). The Seimen is a German electronic multinational company that operates six segments of the industry including healthcare, energy, IT solutions, financial service and investment of equity. There are fourteen divisions of these six segments including the Drive Technologies, Divisions Industry Automation, ,Industry Solutions and Mobility, Building Technologies, Diagnostics, the division of Fossil Power Generation, and Power Distribution, the Divisions Imaging Information Technology, Renewable Energy, Oil Gas, Power Transmission, Workflow and Solutions. The presidents and the chief officer of executive of Siemens is Peter Loscher who belongs from Austria. Seven members head the different sectors. For more or less 160 years, Siemens have been operating more than 190 regions all over the world. A world of talent that is proven, delivering many innovations, giving the consumers a sound edge of competition, helping the societies to master their most major challenges, and cration of sustaina ble value. Siemens values are responsibility, committing to ethical and responsible actions, excellence, achieving high performance and excellent results, and innovation, and being innovative to create sustainable value. Political factors: The political factors refer to the degree of government intervention in the economy along with the business policies and procedures adopted. Siemens stands to have a strong political strength in times of uncertainty and turmoil. The reduction of the taxes and tariffs of the capital goods can affect the company (Kotler, 2015). The company has adapted an export control policy in which it prohibits from participating directly and indirectly in the developments and manufacturing. Economic factors: The economic factors include the taxation charges, economic growth rate, inflation and exchange rate. These factors have a huge impact on the Siemens business policy. In 2008, the decrease in inflation rate resulted in the downfall in the companys investment. Social factors: Social factors refer to the trends that can affect the demand for the firms production and changes in the taste and preferences of the customers. Increase in the urbanization has a great impact on the company. When people move to urban areas for better opportunities, the company can get more employees for engaging in their company. Preference for energy efficient vehicles with low cost increases the demand for the product. The corporate social responsibility also a part of social factors. Technological factors: The change in the factors of technologies changes the production and the quality of products along with innovations. The technology can also help in the reduction of the cost of the production (Lasserre, 2017). Siemens uses high tech and modern electronics for their developments. This helps them to get the maximum production at minimum cost. Seimen also has built a worldwide innovation of networks that helps them to improve processes and product continuously. Environmental factors: The environmental factor includes the weather climate and the desire to protect the environment. This affects the industries to move towards more environmentally friendly products and processes. This also a part of the corporate social responsibility of the firm. Legal factors: The legal factors that influence the environment where the firm operates. It affects the cost and the demand of the firm. For example, the Seimen was given the burden of reduction of the green house gases. The foreign trade regulations and labor legislation falls under the legal factors. Internal factors affecting the Siemens Strengths: The strength of Siemens includes the market leadership that it possesses through innovations and best quality products. It produces products such as industry, health care and infrastructure and energy. Most importantly, the Siemens is known for its financial stability and excellence it maintains (Pogue Miller, 2018).There consist of a strong advertisement and marketing which can be stated as strengths. The processes of advertisements are done through media, TV, sports and lifestyle events. Weakness: There are hardly any drawbacks in the company of Seimen. However, in order to analyze the weaknesses the pointed out limitation is that the company has dependence on the third party for the efficiency in the operations. Moreover, there had been few allegation on the companys corporate environment corruption has been found out. The risk of the company refers to the possibility of a loss that the company may face, it is the uncertainty or the anticipation of loss that is made before hand. There are various kinds of risks that Seimen faces. The various fines and lawsuits: One of the major risks of the Seimen Company is the various outcomes and consequences that it has to face if there is a non-compliance with the legislation. It can result in different kinds of fines and lawsuits that can lead to a direct reputational and financial effect on the company (Burt et al., 2014). Financial loss: Another major risk that the company faces is the financial risk. It refers to the direct financial losses. Examples of such losses are the various frequent accidents with employees that need to be away from work for a long time. Physical risks of Seimens: Destruction risks of facilities of the company and physical equipment that is Lack of training in using equipment can generate physical losses as well as lack of maintenance, which can culminate in fire or leakages. Company risk of Reputation:Any kind of misconduct of the company that can affect the heads relevant to stakeholders can affect the reputation of the company. Maintaining a good reputation is very important. There is a always a fear for the company about the risk. Any kind of spoilage in the reputation can lead to fall in the goodwill. For example. Child labor practice in the corporate operations can create huge damage on the companys reputation and the business may lose clients. Global economic risk: Uncertainties in the global market of Siemens from annual report 2017, mainly starts from the risk of that are political had very less impact on the worldwide economy. Global pressure with Iran and North Korea enhanced and the negotiations about the U.K. leaving the Union of Europe are complicated and tensions of separation in Spain added significant uncertainty. These developments weigh potentially on decisions of investment but this materialized barely in 2017 fiscal (Berend, 2016). Business measurement practices of Seimens The performance management refers to the monitoring process of the targets and the performance against actual results for establishing the best process of analyzing how nicely the business and its members are functioning as a whole as one unit. The Seimen faces high increase in the demands for measurement of the performance of the environment (Bernardino, 2014). This is necessary for the achieving of the development that is to make the financial stakeholders be rest assured that the investments made by them are not at risk. To Enhance the Performance of the different decision making procedure that the Seimen uses are as follows: The Balanced Scorecard- A system, which is a strategic system of administration that joins all the unique and quantitative measures of significance to the endeavor. The gather of the measures all classes apparently aids in the social affair and choice of the proper execution measures for the venture. Another technique used to measure the performance of the Siemens business is benchmarking. It is thecomparison of the process of business andperformance metricswith bests practices of other industries. The benchmarking measures the time, quality and cost of Siemens to analyze its performance. By this method, the management gets to know how well the company targets are achieved. The strategies globalization that the Siemens uses for achieve its goals: Operational: Astrategy for globalization for Siemens has high degree of centralization with the headquarters that coordinating Siemens to seed out the standardization and generate the economies of scale. The focus is on the cost reductions (Cooke Wells, 2015). However, at times of high demand, when the local responsiveness is high, there is hardly any recommendation tht they can provide. Financial: For measurement and comparison of the financial development in the market and the competitive environment, Siemens use defined system key indicators like capital efficiency, growth, profit margin, and capital structure and dividend payout ratio. Human resource: The most important pillar of Siemens human resource strategy, alongside the operational performance, operational excellence and corporate social responsibility, is continuous management, development and motivation to its employees (Gallagher, 2014). Marketing: The processes of advertisements are done through media, TV, sports and lifestyle events. Conclusion The Globalization possesses many challenges to Siemens. However, Siemens has always been an efficient part of the global business for 162 years. The securing process of the business is to make sure that it offers a wide range of high-class services that add value to customers work. Siemens offers highly products that are technical with service benefits added in. This kind of service capability drives a advantage of competition over other suppliers. This strategy is deliberate. Reference list Berend, I. T. (2016).An economic history of twentieth-century Europe: economic regimes from laissez-faire to globalization. Cambridge University Press. Bernardino, R. (2014). Internationalization drivers and Global Markets.Information Technology People,8, 43-47. Burt, P. J., Tower, J. R., van der Wal, G. S., Ackerman, D. A. (2014).U.S. Patent No. 8,830,340. 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