Values & Vision
Highest performance with the highest ethics
& our aspirations for the future
Values & Vision
Highest performance with the highest ethics
& our aspirations for the future
Highest performance
with the highest ethics
Our stakeholders 4
Our values 8
Our vision 16
A message
from the CEO
Welcome!
Our
major
stakeholders
.
from
customers,
shareholders,
employees,
and
suppliers
to
the
societies
in
which
we
live
.
expect
from
Siemens
the
highest
performance
and
the
highest
ethics.
Meeting
the
different
requirements
of
all
these
stakeholder
groups
is
the
ultimate
determinant
of
our
success.
Over
the
long
term,
the
greatest
success
comes
to
those
companies
who
succeed
in
meeting
their
stakeholders’
requirements
while
staying
true
to
the
company’s
values
and
vision.
This
means
finding
a
new
balance
in
which
our
values,
our
day-to-day
business
operations
and
the
pursuit
of
our
vision
all
contribute
harmoniously
to
the
success
of
Siemens
as
a
company.
We
have
taken
a
close
look
at
our
company
culture
and
history
and
derived
three
core
values:
Responsibility,
Excellence
and
Innovation.
They
are
interdependent:
only
if
all
three
are
lived
at
the
same
time
can
we
achieve
the
highest
performance
with
the
highest
ethics.
For
each
of
these
values,
we
have
worked
out
clear
principles
that
guide
our
decision-making
processes
and
our
behavior
in
business
life.
We
need
to
embrace
these
values
and
ensure
they
are
embedded
in
everything
we
do.
These
values
replace
our
former
‘principles’
by
focusing
on
their
personal
relevance
to
all
employees
and
will
serve
as
the
long-term
basis
for
our
vision,
strategy
and
goals.
Our
vision
was
developed
by
our
senior
leadership
team.
All
groups
and
many
regions
were
actively
involved
in
its
creation.
Our
vision
puts
into
practice
our
belief
that
the
highest
performance
and
the
highest
ethics
can
work
together
to
drive
our
company’s
profitable
growth,
while
addressing
our
stakeholders’
requirements.
With
the
support
of
everyone
at
Siemens,
our
vision
will
enable
us
to
become
a
role
model
for
outstanding
business
conduct
wherever
we
operate.
Our
vision
gives
us
inpiration
and
a
common,
long
term
goal.
Best
regards,
Peter Loescher
President
and
CEO
Our
stakeholders
A trusted relationship
Our
stakeholders
A trusted relationship
Customers
… need a strong and trusted business partner
to give them a competitive edge.
Shareholders
… demand high performance, superior profits
and tangible, sustainable business results.
Employees
… want to work for a company that provides
excellent opportunities for personal
and professional growth in a sustainable
business environment.
Suppliers
… need a reliable, long-term business partner
that conducts its operations according to
explicit ethical standards.
Societies
… expect ethical and responsible behavior
from the company and its employees.
A trusted relationship
with all our stakeholders
Stakeholders
set the context for
our conduct
In
all
large
companies,
there
is
a
temptation
to
look
inwards;
to
seek
answers
to
questions
based
on
our
own
circumstances
and
needs.
However,
we
must
ensure
that
a
very
different
kind
of
thinking
determines
our
decisions.
Our
stakeholder
groups
.
customers,
shareholders,
employees,
suppliers,
and
the
societies
in
which
we
operate
.
give
us
the
larger
context
that
must
frame
our
business
decisions.
Each
of
these
five
groups
have
legitimate
claims
about
the
way
the
company
conducts
itself.
Our
customers
require
a
partner
with
the
insight
and
innovation
to
provide
them
with
tangible
advantages.
Our answers to
our stakeholders
Our
shareholders
focus
on
performance
.
today,
and
into
the
future.
Our
employees
want
to
take
pride
in
their
company,
to
know
that
it
offers
the
personal
and
professional
foundations
for
a
successful
career.
Our
suppliers
want
a
fair
relationship
that
creates
a
win-win
situation
for
both
parties.
And
society
at
large
is
increasingly
demanding
the
highest
standards
of
ethical
conduct
and
corporate
responsibility.
To
be
successful
in
the
long
term,
it
is
of
critical
importance
that
relationships
with
all
our
stakeholder
groups
are
based
on
trust.
These
groups
have,
of
course,
a
broad
variety
of
claims.
At
first
glance,
it
may
appear
to
be
difficult
to
accommodate
all
these
claims
.
or
that
they
are
even
contradictory.
However,
a
closer
look
will
reveal
the
common
thread
that
links
them
all
together.
Our
stakeholders
simply
expect
the
highest
performance
with
the
highest
ethics.
A
clear
understanding
of
these
requirements
through
open
engagement
with
our
stakeholders
will
therefore
enable
us
to
align
our
business
decisions
with
the
overall
goals
of
the
company.
High
performance
and
ethical
behavior
are
the
two
pillars
of
sustainable
business
success
.
they
are
not
contradictory.
In
the
long
term
we
can
only
be
successful
if
we
are
able
to
satisfy
both
requirements
at
the
same
time.
Our values
For highest performance
with the highest ethics
Our values
For highest performance
with the highest ethics
Responsible
Committed
to
ethical
and
responsible actions
Excellent
Achieving
high
performance
and
excellent results
Innovative
Being
innovative
to
create
sustainable
value
Responsible
Committed to ethical and responsible actions
Our principles:
.
We obey the law
.
We respect the dignity of all people
.
We foster health and safety
.
We conduct business in a truthful and
transparent manner
.
We are fair in our relationships with competitors
and stakeholders
.
We honor commitments
.
We respect property
.
We strive for the protection of the environment
.
We are committed to good corporate citizenship
.
We are fully engaged and empowered
to achieve the best results
Personal and
corporate
obligations
Today,
companies
are
held
to
higher
standards
of
ethical
behavior
than
ever
before.
At
Siemens,
we
are
determined
to
meet
.
and
wherever
possible,
exceed
.
all
legal
and
ethical
requirements.
Our
corporate
responsibility
is
to
conduct
all
business
according
to
the
highest
professional
and
ethical
standards
and
practices.
And
our
individual
responsibility
is
to
apply
these
standards
in
every
business
situation:
there
must
be
no
tolerance
for
non-compliant
behavior.
As
Siemens
employees,
we
actively
work
to
represent
Siemens
as
a
company
that
is
respected
both
for
responsible
business
conduct
and
as
a
good
corporate
citizen.
This
means
that
each
of
us
must
act
in
accordance
with
the
laws,
internal
rules
and
regulations
for
business
conduct
and
that
everyone
contributes
to
the
development
and
well-being
of
the
societies
in
which
we
live.
We
are
also
responsible
for
our
own
performance,
always
fulfilling
our
work
duties
to
the
very
best
of
our
abilities
and
being
fully
aware
of
the
consequences
of
our
actions.
As
Siemens
leaders,
we
actively
contribute
to
a
culture
of
transparency,
personal
accountability
and
responsible
decision-making
by
being
role
models.
We
embody
our
ethical
approach,
encourage
our
teams
to
do
the
same
and
ensure
that
business
results
are
never
more
important
than
ethical
conduct
and
compliance
with
Siemens’
policies.
Our
principles
related
to
the
value
‘Responsible’
serve
as
the
compass
by
which
we
navigate
our
way
through
our
business
decisions.
It
is
important
that
these
principles
are
not
only
applied
within
Siemens:
we
must
also
support
and
encourage
our
business
partners,
suppliers
and
other
stakeholders
to
adopt
a
similarly
high
standard
of
ethical
behavior.
Excellent
Achieving high performance and excellent results
Our principles:
.
We set ourselves best-in-class goals and
achieve them
.
We are passionate
.
We are willing to go the extra mile
.
We are disciplined and act fast and decisively
.
We always strive for improvements and
perfect quality
.
We deeply understand our customers‘ needs and
challenges
.
We systematically develop our personal skills and
leverage our full potential
.
We interact in an efficient and pragmatic way
.
We embrace change to ensure we are
competitive in the future
Clear, aspirational
goals, concrete
actions and defined
outcomes
At
Siemens,
we
have
a
tradition
of
excellence
of
which
we
can
all
be
proud.
We
set
ourselves
ambitious
targets
.
derived
from
our
vision
and
verified
by
benchmarks
.
and
then
give
our
all
to
achieve
them.
Superior
profits
are
the
natural
and
desired
result
of
the
application
of
excellence.
In
pursuit
of
this,
we
are
disciplined
and
willing
to
go
the
extra
mile.
This
requires
passion
and
confidence
.
passion
for
our
work
and
confidence
in
the
achievements
this
will
bring
for
ourselves,
our
company
and
our
stakeholders.
Excellence
also
means
attracting
the
best
talent
in
the
marketplace.
We
will
empower
these
talents
to
acquire
the
skills
they
need
to
become
high-achievers
and
give
them
the
opportunities
they
require
to
fulfill
their
potential.
We
are
committed
to
living
a
high-performance
culture.
In
addition,
excellence
is
about
looking
both
outwards
and
inwards.
It
is
about
understanding
.
at
a
deep
level
.
the
needs
of
our
customers,
in
terms
of
products
and
services,
and
then
coming
up
with
solutions
that
exceed
their
expectations.
Furthermore,
excellence
influences
our
behavior:
we
approach
our
relationships
with
our
stakeholder
groups
in
a
spirit
of
co-operation,
standing
beside
them
in
the
search
for
perfect
quality.
Excellence
is
not
merely
about
being
good
at
what
we
do
today,
but
about
defining
a
path
of
continuous
improvement:
along
this
path,
we
will
constantly
challenge
existing
processes
in
order
to
become
better.
It
is
also
about
embracing
change,
exploring
new
technologies,
markets
and
industries
so
that
we
are
in
the
right
place
when
new
opportunities
open
up.
1
Innovative
Being innovative to create sustainable value
Our principles: . We create innovations that give our customers
a unique competitive edge
. We act as entrepreneurs
. We are creative and open to new ideas
. We are ingenious and visionary
. We are trendsetters
. We constantly challenge the status quo
1
Ingenious,
entrepreneurial,
trendsetting:
ideas to change
our world
Innovation
has
been
one
of
the
cornerstones
of
Siemens’
success
since
its
inception
and
continues
to
be
a
fundamental
driver
of
our
strategy
today.
Siemens
is
a
trendsetter
and
has
leading
technology
positions
in
many
of
its
businesses.
Innovation
means
understanding
the
customer’s
real
need,
creating
products,
systems,
solutions
and
services
that
help
our
customers
to
win
in
their
markets.
We
measure
the
success
of
our
innovations
by
our
customer’s
success.
We
are
entrepreneurs
whose
businesses
are
built
on
innovations
that
are
successful
on
a
global
scale.
We
constantly
renew
our
portfolio
to
provide
answers
to
societies’
most
vital
challenges,
enabling
us
to
create
sustainable
value.
As
a
trendsetter,
we
closely
align
R&D
activities
with
business
strategy.
We
hold
key
patents
and
have
a
strong
position
both
in
established
technologies
and
in
new
technologies
that
might
transform
the
market
in
the
future.
Our
goal
is
to
be
a
trendsetter
in
all
of
our
businesses.
By
being
a
true
trendsetter,
we
unlock
the
energy
and
creativity
of
our
employees.
We
also
embrace
the
new
and
different,
constantly
challenging
existing
assumptions.
We
are
also
ingenious
and
we
embrace
this
quality
in
all
its
varied
meanings
.
original,
inventive
and
resourceful.
If
we
can
achieve
this,
then
the
new
ideas
that
are
the
lifeblood
of
our
company
will
flow
steadily
into
the
outside
world.
1
Our vision
Our aspirations for the future
1
Our vision
Our aspirations for the future
1
A world of proven talent
delivering breakthrough
innovations
giving our customers a unique
competitive edge
enabling societies to master their
most vital challenges
and creating sustainable value
1
What does
our vision mean?
World of
proven talent
‘Proven
talent’
refers
both
to
our
successful
track
record
and
to
our
enviable
talent
pool.
However,
sustained
high-
performance
requires
us
to
constantly
improve
our
existing
capabilities
in
two
key
areas.
Firstly,
we
need
to
attract
and
retain
the
best
and
the
brightest
talents
in
the
world.
We
want
to
remain
an
aspirational
brand
and
company
.
one
that
the
best
want
to
work
for.
Secondly,
we
aim
to
increase
diversity
within
the
company
.
different
viewpoints
and
backgrounds
are
key
to
a
culture
of
innovation
and
we
strive
to
have
a
variety
of
capabilities
and
competencies.
‘World’
refers
to
both
our
geographic
reach
and
to
our
unrestrained
approach.
Our
global
presence
means
that
we
add
value
wherever
we
do
business,
contributing
to
the
development
of
the
societies
in
which
we
live.
1
Delivering
breakthrough
innovations
‘Innovation’
is
one
of
our
core
values
and
an
essential
part
of
our
heritage.
It
refers
to
the
creation
of
products,
systems,
services
and
solutions
which
bring
great
benefits
to
our
customers
and
the
communities
that
surround
us.
This
means
that
we
do
not
only
create
these
innovations,
but
ensure
that
they
become
state-of-the
art
.
true
industry
benchmarks
that
help
Siemens
to
achieve
market
leadership.
‘Breakthrough’
describes
our
aspiration
to
deliver
more
than
merely
incremental
innovation.
Siemens
is
determined
to
break
through
pre-existing
barriers,
eliminate
obstacles
and
create
a
quantum
leap
that
opens
up
new
dimensions
for
our
customers
and
the
industries
in
which
they
operate.
‘Delivering’
refers
to
our
customer-orientation
and
our
determination
to
bring
our
innovations
to
market
in
a
timely
and
effective
manner.
It
also
underlines
the
fact
that
we
create
substantial
solutions
for
our
customers
that
are
unique
and
which
would
simply
not
exist
without
the
innovative
power
of
Siemens.
1
What does
our vision mean?
Giving our
customers a unique
competitive edge
‘Customers’
underlines
our
focus
on
the
companies
and
individuals
on
whose
loyalty
our
success
depends.
It
also
describes
a
growth-oriented
company
that
recognises
that
its
own
sustainability
is
tightly
bound
to
that
of
its
customers.
This
also
emphasizes
the
application
of
innovation
to
satisfy
the
real
needs
of
the
customer.
‘Competitive
edge’
means
that
we
understand
our
customers’
real
needs.
We
provide
products,
systems,
services
and
solutions
that
give
our
customers
a
competitive
advantage
in
their
market.
We
strive
to
be
a
trusted
business
partner
which
contributes
to
our
customers’
success.
‘Unique’
highlights
the
fact
that
our
expertise
provides
customers
with
solutions
that
are
unavailable
from
other
companies.
It
also
implies
that
our
commitment
to
excellence
and
our
understanding
of
our
customers’
challenges
can
help
them
to
differentiate
themselves
from
their
competitors.
Enabling societies
to master their most
vital challenges
Creating
sustainable value
‘Enabling
societies’
relates
to,
‘Responsibility’,
and
refers
to
improving
the
lives
of
people
everywhere.
Siemens
wants
to
help
societies
cope
with
their
future
needs
and
take
advantage
of
the
opportunities
created
by
global
trends,
such
as
urbanization
or
demographic
change.
‘To
master
their
most
vital
challenges’
means
that
Siemens
will
help
to
meet
the
needs
of
societies
around
the
world
in
the
areas
of
energy
and
environmental
care,
automation
and
control,
industrial
and
public
infrastructure
and
healthcare.
Also,
as
many
of
these
challenges
will
require
ongoing
effort
and
innovation,
it
communicates
that
we
are
committed
to
providing
lasting
value.
‘Creating
sustainable
value’
encapsulates
our
commitment
to
meet
the
expectations
of
all
stakeholders.
It
means
ensuring
lasting
impact
and
long-term
success,
something
that
can
only
be
achieved
by
living
our
core
values.
Creating
sustainable
value
means:
being
a
strong
and
trusted
business
partner;
providing
real
benefits
to
our
customers;
creating
superior
profits
and
tangible,
sustainable
business
results
for
our
shareholders;
offering
employees
excellent
opportunities
for
personal
and
professional
growth;
being
a
long-term
business
partner
for
our
suppliers;
and
behaving
in
an
ethical
and
responsible
manner
with
regard
to
society
at
large.
These
words
also
sum
up
the
overall
contribution
that
Siemens
wants
to
make,
both
for
itself
and
the
world
at
large.
In
doing
so,
we
aim
to
become
one
of
the
most
valuable
companies
in
the
world.
Putting words
into action
The
vision
and
the
values
of
the
company
outlined
in
this
document
must
be
at
the
heart
of
how
we
do
business.
To
achieve
the
highest
performance
with
the
highest
ethics,
we
have
to
integrate
our
vision
and
our
values
and
related
principles
into
daily
business
decision-making
in
our
specific
environment.
This
should
be
done
thoroughly:
it
requires
careful
thought
and
may
often
involve
dialogue
with
colleagues
or
leaders.
Our
subsequent
actions
must
always
be
consistent
with
the
Siemens
values.
This
is
how
we
ensure
that
highest
performance
and
highest
ethical
behavior
go
hand-in-hand
to
create
long-lasting
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