Enterprise Risk Management at Siemens

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Case Details:

Case Code : ERMT-012
Case Length : 14 Pages
Period : 2003
Pub Date : 2003
Teaching Note :Not Available
Organization : Siemens
Industry : Electronics
Countries : Germany

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Introduction

Established by Werner von Siemens in 1847, Germany based Siemens AG (Siemens) was one of the world's largest electronics and electrical engineering companies, with more than 400 manufacturing sites located in 190 countries.

With a wide array of products, systems and services, Siemens was a global player in information and communications, automation and control, power, medical solutions, transportation and lighting. In the 1990s, the German company had gone through a series of restructuring exercises to sharpen its focus on six major areas: automation and control, information and communications, lighting, medical, power, and transportation.

Enterprise Risk Management | Case Study in Management, Operations, Strategies, Enterprise Risk Management, Case Studies

The Information and Communications segment comprised three Groups: Information and Communication Networks, Information and Communication Mobile, and Siemens Business Services. The Automation and Control segment comprised four Groups: Automation and Drives, Industrial Solutions and Services, Siemens Production and Logistics Systems and Siemens Building Technologies. The Power segment comprised two Groups: Power Generation and Power Transmission and Distribution.

The Transportation segment comprised two Groups: Transportation Systems and Siemens Automotive. The Medical segment offered products, solutions and services for integrated healthcare. The Lighting segment produced high-tech lighting technology electronics. The Financing and Real Estate segment specialized in offerings for corporate financing, as well as in related risk management.

Overview of Risks

In internationally oriented long-cycle industries (power generation, power transmission and distribution, medical solutions and rail systems) - customers had multi-year planning and implementation horizons that tended to be independent of short-term economic trends.

In fields with more industry-specific cycles - (information and communications, automation and drives, and lighting) customers tended to have shorter horizons for their spending decisions and greater sensitivity to prevailing economic conditions.

Businesses like information and communications and medical solutions, were also influenced by technological change and the rate of acceptance of new technologies by end users.

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