Siemens SWOT Analysis – SWOT Analysis of Siemens: Siemens is a German conglomerate with headquarters in Munich as well as Berlin as well as being the biggest industrial manufacturing firm in Europe with numerous branches in other countries. The company is comprised of Energy, Industry, Healthcare, and Infrastructure & Cities as its principal divisions. The medical diagnostics division is profitable and accounts for approximately 12% of the revenue. This company as well as its affiliates employ approximately 3,72,000 employees around the world and in 2017 the company’s global revenues were approximately EUR83 billion.
The company’s primary concentration is in the areas of automation, digitalization, and electrification. It is also the largest manufacturer of resource-saving and energy-efficient technological solutions. The company has a leading role in the field of solutions for infrastructure.
Siemens fun facts: The first cardiac pacemaker was founded and manufactured by Siemens and was inserted in a patient with severe cardiac arrhythmia on October 8th, 1958. Today, nearly a million pacemakers are installed worldwide.
About Siemens – SWOT analysis of Siemens
Company : Siemens AG
CEO: Roland Busch
Founder: Werner von Siemens | Johann Georg Halske
Year founded: 1 October 1847, Berlin, Germany
Headquarters: Munich, Germany
Annual Revenue: Euro€ 62 billion
Profit | Net income: Euro€ 2.5 billion
Number of employees : 293,000
Products & Services: Electrical installation systems | Switches and socket outlets | Building control | Home automation | Home appliances | Investment funds | Home security
Competitors: Philips | GE Digital | Nokia | General Electric | Johnson Controls | Hitachi | Honeywell | Mitsubishi Electric | Toshiba | Bosch | Schneider Electric | ABB | BHEL
SWOT analysis of Siemens – Siemens SWOT analysis
SWOT Analysis Of Siemens is brand-based. SWOT Analysis of Siemens evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Siemens’ SWOT Analysis. Below is the detailed SWOT Analysis of Siemens.
Let’s talk about Siemens’s SWOT assessment.
Strengths of Siemens – Siemens SWOT analysis
1.) Worldwide presence
This company has become a formidable force with a global presence and contributes to the generation of electricity transmission distribution, smart grid solutions, and efficient implementation within the electrification process. The company employs more than 3,72,000 workers in over 200 countries and operates manufacturing and production plants across the world. The company owns office buildings warehouses and offices along with R&D facilities in nearly every continent of the world.
Marketing91 has a long history of more than 170 years. It has developed new concepts and innovative ideas that have led to highly efficient business models. Siemens sets benchmarks, and its breakthroughs surpass mere concepts. Siemens boasts that they have highly productive employees who create 34 inventions every day, which translates into 7,450 per year. This ability has helped Siemens take a lead part in the future of the company. Siemens has invested about EUR500 million in R&D and this has given the company an edge over competitors.
3) Strong Advertising
The company has launched a brand new advertising campaign across the U.S named “Ingenuity for Life” which will demonstrate that technology doesn’t just affect the business sector but also our society as a whole. It has invested heavily in intelligent electric mobility and has more than 60 percent of its websites run on 100% renewable energy. These achievements are prominently promoted through the branding of the business. The spirit of the entrepreneur and the ability to invoke are firmly publicized by the company.
4) Customer Satisfaction:
Siemens’ primary focus is on internal collaboration and is looking at methods to help employees collaborate and claim that this strategy has helped the business improve its service to customers. Siemens discovers instances of outstanding customer service are provided and strives to make it more efficient. Siemens is home to a dedicated department for managing customer relationships that have managed to provide the highest levels of satisfaction from customers and respectable brand equity with prospective customers.
Weaknesses of Siemens – SWOT Analysis Of Siemens
Siemens hasn’t been able to meet the challenges posed by new competitors within the market. New entrants in the industry and the specialties have suffered a loss of shares in the market. Siemens has developed an internal mechanism for feedback that is based on the sales team in order to address these challenges. The competition such as General Electric (GE) has joined the business of industrial equipment in addition to being a leading health provider. ABB is also a competitor to Siemens with facilities spread across more than 100 countries. Its “ABB Ability” digital solutions offer cutting-edge solutions for customers. Schneider Electric is also one of the main competitors to Siemens that holds the number one place for grid control, power critical, and cooling for data center cooling. General Electric, however, is thought to be the primary competitor to Siemens.
2.) Lawsuits fought
Siemens must make payments of $1.6 billion to European and American companies to settle claims related to frequently using bribes and other Slush funds to secure public contracts throughout the world. Siemens was found guilty of engaging in corrupt practices in its international business transactions. Siemens was also required to settle cases relating to inquiries into whether bribes were employed in order to secure contracts. This has negatively affected the image of the brand that Siemens has. Siemens.
Opportunities of Siemens – Siemens SWOT analysis
1.) Emerging markets
The company has excellent results in the emerging marketplaces and has developed an expertise in entering new markets and achieving success. This method that invests in emerging markets has been a huge help in helping Siemens create a new revenue stream and mitigate the cyclical risks within the markets. The company believes that new markets represent the engines of growth in the economy of all nations. Siemens has not just driven growth in countries such as Brazil, India, and Russia but as well South Africa, Thailand, Vietnam, and Thailand.
2) New Environment policy
The new policies and policies will assist Siemens to create more opportunities in the market. This has offered Siemens the chance to benefit from innovative technologies and increase the market’s share in newer product categories. These policies have helped Siemens determine the strategies it will use to achieve its vision of 2020and beyond. Siemens has clearly defined sustainability growth objectives and is aligned closely with the objectives of 2030 set by the United Nations. It is able to balance the business, the environment, and profits well
Digitalization has enabled the company to give the company opportunities Siemens to come up with a unique price approach that can aid in maintaining loyal customers by providing excellent service, and also attracting new customers. Siemens has attracted new customers via the internet channels as well as invested large amounts into online platforms. Siemens has integrated all the technology that is required to provide data-driven services Analytics has demonstrated its capabilities across a variety of streams. As the digital business models formulated by the company grow more effective they will aid in helping the company to become a fully digital enterprise.
Threats of Siemens – SWOT analysis of Siemens
1) Economic Fluctuation
Siemens has a worldwide business and is subject to various liability laws across nations. Additionally, it is vulnerable to changes in currency because of the unstable political climate that exists in a number of markets. Because of the recent rises in fuel prices, the company’s profits fell by 25 percent. Siemens is seeking to cut expenses by EUR1 billion and has stated that it might need to reduce jobs, particularly from the weak performance divisions. It is believed that economic fluctuation plays a significant impact on the profits of the business.
Overview Template of Siemens SWOT analysis
Siemens has many competitors, yet it strives to achieve excellence. A detailed study on its SWOT analysis revealed that its major strength is that it is a global company and has so much potential for growth, and using its opportunities like keeping up with new trends digitally can resolve its weakness and strengthen its market position.
The future is digital and one needs to pace up and revolve its functioning digitally. The main marketing strategy used by Siemens is keeping a strong online presence on various social media platforms and selling its technology-based products and services online. This is how significant Digital Marketing is today. You can also upskill yourself digitally with IIDE. If you’re interested in Digital Marketing, our Free Masterclass on Digital Marketing Basics is a great place to begin.
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