Prepare and record a Power Point presentation of your individual Case Analysis # 2 of  Siemens: Management Innovation at the Corporate Level.

Please use the attached Siemens rubric when constructing your Power Point presentation:

Case Analysis outline:

1. Apply change management concepts to strategic planning.

2. Analyze sustainable business practices using the triple bottom-line approach.

3. Apply leadership decision-making frameworks

Case Analysis of Siemens

Introduction

Doing and managing businesses in today’s advanced competitive era is increasingly difficult and tiresome, and there are thousands of companies that are being closed or shutting their branches off. The fallen economy is denoted by the emergence of various causes that have created inflation and put huge businesses at risk. The economic condition after 9/11 had heavenly disturbed the world economy and then the financial crisis of 2008 attacked the global economy more problematic level. The Greece financial crisis and bailout package creates another frustration in the European markets, and recently the Brexit issue is paving another new dilemma if it is not dealt with wisely. The management of Business organizations is working hard to improve their credentials to digest the concurring issues in the financial market and bestow something new that would be beneficial for their organizational and business growth. Companies are employing innovative methodologies that proffer various multitasking benefits for the success of their business. The increasing world population, global warming, inflation and geopolitical influences around the world are urging business organizations and corporations to adopt innovation in their way of managing a business and focus on the human growth and product marketing (Hitt, 2007).

Innovation in Business

The system itself can only be brought change when the leadership is refined and inclined to change. Organizations and companies can only grow when there is a leader are on one-page, skilled, hard work and professionally capable of tackling everyday challenges. It is the primary responsibility of the leadership to be aware of current market trends and specify their targeted plans as per the current ground reality and getting experience from the past.

Siemens AG, a Glance at the Corporate level Innovation

Discussing the case study of the Siemens AG, which was conducted to inspect the innovation at the corporate level. The legitimate examination investigates association progress at the corporate estimation at Siemens AG for the ten-year time designation from 1998 to 2007. Looked with remarkable capital markets weight in the late 1990s, Siemens induced its first clearing corporate program in July 1998. A fundamental piece of the supposed Ten-Point Program was the top+ plan, which merely tended to issues of business brilliance and association progress, the social affair of new association considerations, rehearses, instruments, and whatnot. With the redesigned and more reasonable corporate procedure that went for vertically and on a measurement, plane enhancing the association’s portfolio, Siemens’ association could join liberal money related expert respect over the ten-year time length from 1998 to 2007. The significant examination revealed that: incorporates the specific situation, enhancement, and substance of an association progress program; depicts how a firm masters the association headway process, especially the difficulties while regulating unquestionable association movements and a changing business portfolio; and gives experiences into how a multi-business firm inclination from an aggregate association progression program. This case was made with the help of a Philip Law Scholarship yielded by each (Hitt, 2007).

This legitimate examination demonstrates how the benchmarks of essential association apply to Siemens’ made and purposeful way to deal with oversee association progress and business importance. It, also, gives a structure to investigate the reasonableness of the affiliation’s corporate association devices and exercises (Hitt, 2007).

Change Management Concepts to Strategic Planning

According to Hitt (2007), strategic planning is the essence of a business plan and the actual utilization of business objects and resources. If there is any flaw in the strategic planning of an organization, it is certain that the organization will not survive and could not meet the challenges of the present-day market mechanism. Therefore, utmost attention is given by the leaders of the business community to develop a comprehensive strategic plan for not only tackling the current challenges but also for the future of the organization. However, it is volatile and needs amendments all the time. Business is based on everyday ground reality and issues that need to be resolved immediately without any delay. Strategic planning is like a skeleton of the central plan of resources as for how to utilize them, and when and where to use them. The right thing at the right time is the core of strategic planning (Hitt, 2007).

If any organization faces problems and needs to re-visit their regular stance, they must change the policy to cope with the next challenge. It is the responsibility of the leadership to overview the market position and improve the strategic planning as per the ground reality. It is noteworthy that without having realized the correct business real-time issues, the resolution cannot be achieved. Hence, the proper management is required when the organization is going to change its strategic planning, and adequate feasibility can be observed, and after a thorough analysis of the ground reality, a change should be brought and implemented, to save the organization from any impending disaster (Hitt, 2007).

Sustainable Business Practices Using the Triple Bottom-line Approach

Hitt (2007) emphasized the importance of the business plan and strategic planning, while also suggest giving special attention to the bottom-line approach. The business does not only depend on the micro level considerations, but the macro level eye is critical in the industry. The organization must not ignore the macro level business activities and also make sure that the enterprise is dealing with the disasters properly and the things are in their absolute control at the macro as well as the micro level. There should not be any negligence that opts for some dramatic failures. Therefore, organizations must look for the opportunities that develop the organization growth at both the micro and macro levels.

Hitt (2007), further illustrates that the adoption of sustainable business techniques and procedures must be viewed and analyzed deeply and thoroughly by using the triple-bottom-line approach. Before initiating any new project, or applying any policy, the leaders of the business organization must look deeply and thoroughly the tiny things of the original adoption or in other words innovation. Every recent change in the business holds some bad stuff too, which ultimately destroy not only financially but the organization loses their moral position in the market significantly. That is why it is utmost essential to examine the innovation with a triple-bottom-line approach thoroughly.

Leadership Decision-making frameworks

Hitt (2007) views leadership as the success or failure side of the business. If the command is professional, prudent and skilled in the business terminology, the organization will grow. Otherwise, the doom of the organization is certain. The capability of the leadership is in question whenever the organization faces any serious threat that might fall the organization into an unfortunate position. But the genuine leaders can overcome the catastrophe. The success of the business entirely depends on the capability of its leadership. If the command is weak and cannot take rigorous decisions as per the market and business needs, or cannot adopt an innovation, or cannot foresee the impending problems that may harm the organization, or cannot draft comprehensive strategic planning, the organization will suffer the failure, and it can never grow. While, if the leaders are capable and energetic, have a triple-bottom-line approach and judge the situation as the per the ground reality, makes prudent decisions, and in the result, the organization get success and triumph is the destiny of the organization.

Hitt (2007) thinks that the leadership must involve other fellow employees and give great attention when they are going to take an important decision. They must seek consultation from not only their immediate supervisors but must also adopt a bottom-line approach to justify their decision and avoid any blunder that ultimately ruins the organization.

Reference

Hitt, M, Hokisson, R. & Ireland, R. (2017). Strategic Management: Competitiveness & Globalization: Concepts and Cases. Boston, MA-Cengage Learning.