Sustainable Development in Global Business: A Case Study of Siemens

SUSTAINABLE DEVELOPMENT
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Sustainable development
in global business
• The concept of sustainable
development has been
attaining increasing level of
prominence but is a newly
developed idea for several
business executives (Kolk,
2016).
• For majority of business
enterprises the concept of
sustainable development
tends to remain abstract and
theoretical.
• Regardless of its ambiguous
nature, there can be
witnessed support for
sustainable development
values and principles within

Sustainable development
in Conglomerate Industry
• The period between 2002 and 2015
witnessed a rising point for majority of
global conglomerate to create sustainable
strategies.
• Diverse conglomerate business firms have
been strategically structured in a different
way for efficiently practicing Sustainability
(Salvioni & Astori, 2015).
• For example- Volkswagen AG executes
Systemic group meetings to assess their
sustainability goals and strategies; whereby
organizations such as Siemens constitutes
sustainability meetings with operational
heads.

Siemens’ Company
Overview
• Siemens is recognized as a renowned
German-based technology company with
performance in the domains of
electrification, automation, manufacturing
and digitalization (Siemens, 2018).
• The company functions through nine
segments namely Power and Gas; Wind
Power and Renewables; Mobility; Digital
Factory; Energy Management; Process
Industries and Drives; Healthineers, along
with Building Technologies and Financial
Services.

Siemens Sustainable development
• Siemens consideration of sustainability is integrated
to the company’s values based on accountable,
unique and innovative services (Sustainability Report
- Home – Siemens, 2018).
• The company defines sustainable growth as
fundamental means to attain lucrative and enduring
development.
• These values reflect a distinct dedication to perceive
and perform in the interest of upcoming generations
and efficiently balancing People, Planet and Profit
(Siemens.co.in, 2018).

Siemens’ Germany Current Sustainable
Programs and Policies
• For Siemens Digital technologies serve a
critical role in the energy segment as a
fundamental factor for the company to
implement a more sustainable approach to
the conglomerate sector.
• The company’s values and standards are
closely linked with ideas and approaches of
sustainable development that highlights its
aim of the Siemens Vision 2020 strategy
program (Siemens.com, 2018).

Continuation
• Planet-The Green City
Index
• The Green City Index is
recognized as a vital research
assignment which has been
implemented by the
Economist Intelligence Unit
(EIU) and invested by
Siemens.
• The primary goal of this
program is to underline on the
vital challenges associated
with metropolitan
environmental sustainability
by competently producing
excellent sustainable methods
(Cooke, 2015).
• Siemens has also strategized
comprehensive sustainable
approach in attaining
Environmental Protection with
Health Management and