Final Project
fanamt
sample_.pdf
• Executive Summary
An executive summary is a short section of a document that summarizes a longer report in such a way that readers can rapidly become acquainted with a large body of material without having to read it all. It will usually contain a brief statement of what is covered in the major document, background information, concise analysis and main conclusions.
Introduction This section will review the current state of CSR within the company. Include: 1. Current vision and
value statements 2. Current programs
related to the three spheres and the environment
3. Recent events related to current programs
4. Reported stakeholder view of programs and actions of the company
Economic Describe the current status of the company with regard to: 5. Employee relations 6. Corporate culture 7. Investor relations 8. Suppliers
2014
Siemens – Thinking for the long term – Providing
Answers
Sample Student
Comment [1]: Although this Final Project is not perfect, it will certainly give you a good idea of what is expected from the Final Project in this course. Please go through this and use a sample of how you should format your own final project. Please read my notes and comments throughout. Please note the support for the factual statements throughout the file and the support for the personal ideas and opinions.
Comment [2]: Remember to: -‐-‐Utilize all headings AND SUBHEADINGS given to you in the Final Project Guidelines -‐-‐Support all factual statements and personal opinions and recommendations. -‐-‐Use proper APA formatting.
Executive Summary
Siemens was founded in 1847 by Werner Von Siemens and Johann Georg Halske in Berlin,
Germany. It conducts business based upon the theory, “understanding the traditions of the past
is relevant to achieving success in the present and future.” (Siemens, 2014, p. 1) Siemens has
certainly achieved success in past, present and they will certainly be successful in the future.
Siemens is currently listed 28 on the Fortune 100 list of top companies. For 166 years, Siemens
has stood for innovative strength, a passion for technology, sustainability, responsibility and an
uncompromising commitment to quality and excellence” (Siemens, 2014, p. 1). The
organization of the company into the four sectors; Energy, Healthcare, Industry and
Infrastructure & Cities, has been instrumental in their success.
Siemens is always looking to grow their organization. Siemens “is providing the world with
the solutions it needs to master the challenges of demographic change, urbanization, climate
change and globalization” (Siemens, 2014, p. 7). When conducting business, the three spheres
of sustainability; economics, society and the environment, are always at the heart of the business.
In order to expand its businesses, Siemens completely understands that their employees are going
to get them there. Siemens values an employee’s years of service and understands that this type
of employee carries the knowledge and commitment that Siemens is looking to retain.
Sustainability is always one of the first items that Siemens considers when growing their
businesses. Since the company is involved in many businesses, for example power generation,
the company is always concerned about how they are going to affect the communities that
surround their businesses, how they can conduct business with a positive impact on the
environment, and of course, how they are going to continue to increase earnings per share for
Comment [3]: Clear and thorough Executive Summary included. Write the executive summary as though it will be distributed to decision makers in the focus organization. The executive summary is an overview of the entire report. Executive summaries are much like any other summary in that their main goal is to provide a condensed version of the content of a longer report. Executive summaries are written literally for an executive who most likely DOES NOT have the time to read the original. The summary should include the major details of your report. Just like a movie might begin with a fight scene or a magazine article opens with a funny anecdote, you'll need a strong hook for your executive summary. The most important part of an executive summary is the first paragraph that clearly explains what the company does. After the first paragraph, summarize each section of the report in the same order that is presented in the full report. To make the structure as relevant as possible for the reader, you should utilize these categories: Organization’s Vision, Values, and Current Programs Economic Actions Overview Political Actions Overview Civil Society Actions Overview Environmental Actions Overview Media Campaign Overview
Comment [4]: Note the correct formatting of direct quotes.
their investors. Siemens remembers to keep all stakeholders in mind when conducting current
business and when the company is looking to grow the business.
Introduction
Current Vision and Value Statements
“For us, sustainability means acting in the best interest of coming generations – with respect
to the economy, the environment and society” (Driving Sustainability, 2014 p. 1). This is the
quote that appears on Siemens’ website under the Sustainability and Citizenship page. The
company has several more vision and value statements. The company’s newest vision statement
is called Vision 2020. It is very lengthy statement so I will share a summary. The company has
a “Strategy Overview”, which states “If you want to gear a company to the future, you’ve got to
provide answers to the following questions: What do you stand for? What sets you apart? How
will you achieve long term success? And that’s what we’ve done. Vision 2020 is paving the way
to a successful future. And to make it happen, we’re focusing on three topics: Our path, Our
culture and Our strategy” (Siemens, 2014, p. 1).
Current Programs related to the three spheres and the environment
Siemens has done an excellent job ensuring that an interconnected relationship exists within
its organization regarding the three spheres of sustainability; the environmental, economic and
social aspects of our world. Some of the major programs, related to the three spheres, occurring
in the Siemens organization today are the development of a Stellar-equipped CT scanner, the
Somaton Definition Flash. This new CT scanner has the ability to scan a patient’s heart in less
than one-third of a second and still maintain the highest resolution quality within the images.
Comment [5]: Major heading as well as sub headings are included.
Since the scan can be conducted in a reduced amount of time, the patient is receiving a lower
radiation dose. (Siemens, 2014, p. 1)
A fast and flexible clean power plant for California is a program related to helping out the
environment. The Lodi Energy Center is “one of the cleanest fossil fuel power plants in the
United States” (Siemens, 2014, p. 1). The Lodi Energy Center has a 57% efficiency rating. This
power plant replaces older coal fired energy plants and therefore is reducing the CO2 emissions
into the environment. This is just one of the environmental initiatives for Siemens to reach its
objective of “25% of the company’s electricity requirement with energy from renewable
resources by 2025” (Siemens, 2014, p.1).
An additional project for Siemens is the extension of the subway line in Paris, France. The
subways in Paris are driverless subways. “Driverless operation increases a subway lines capacity
by up to 50%, because the trains can travel at shorter intervals” (Siemens, 2014, p. 1). This has
helped the economy of Paris because it is very easy to deploy additional subway trains,
especially during events occurring within the country.
Recent events related to current programs
There have been no events that have taken place recently regarding the above projects for
Siemens, but there has been a recent press release regarding “green” transportation in San
Francisco’s railway. The above projects discuss a clean power plant that replaces coal fired
plants and therefore helps the environment and an extension of the subway line in Paris, France
which will help the economy. The details of this press release explain how Siemens is helping
San Francisco with their environment and also with their economy. In September 2014, San
Francisco ordered 175 light rail cars, with the possibility of ordering 85 additional light rail cars.
Light rail cars are clean and green because they have no emissions at street level, which helps to
enhance the environment. They are safe, speedy, affordable, and avoid traffic congestion. These
factors help both the environment and the economy of San Francisco. They run on the tracks
belonging to the street cars, but the difference with the light rail cars is that they stop at stations
and not in the middle of the streets. This makes for a much safer means of travel. (lrta, 2012, p.
1) this is an enormous project for Siemens, with the initial order bringing in $648 million dollars
for Siemens, with the possibility of an additional $324 million dollars in revenue. (Siemens,
2014, p. 1)
Siemens offers employees “a return to work” program that assists employees during the time
of a health issue that keeps the employee from not being able to return to his/her job. Andreas
Steinwerth, a supply technology coordinator at the Siemens compressor plant in Duisburg,
Germany, utilized this program when he fell at a tradeshow and landed on the concrete,
slamming both knees. He tried to get up, but he quickly realized that he was in serious trouble.
When he had an x-ray taken of both knees, the doctors realized that he had broken both of his
knee caps. For the next year and a half, Andreas recuperated at home. He was unable to return
to his job, because it required extensive travel, something that he was unable to do. When a
position for an energy manager came up, his boss remembered Andreas and thought that he
would be perfect for the job. The position was offered to Andreas and the company gave him the
training he needed to perform his new position. Today he is the energy manager and he is able to
perform his job from his home office. This just shows one more way how Siemens cares for its
stakeholders. (Siemens, 2014, p. 1)
Comment [6]: Note the very thorough introduction.
Economic
Employee Relations
Siemens has always believed that its employees are one of the main reasons why they have
been so successful. Siemens has a number of programs in place to assist its employees in their
professional and personal lives. One of the programs currently in place is the Siemens Global
Engagement Survey. This survey has allowed employees to express their concerns regarding the
company and also their wishes as to how to improve their personal futures. The company
believes that this has been an extremely important management tool. (Siemens, 2014, p. 1)
Corporate Culture
With their employees in mind, Siemens has designed a corporate culture around ensuring that
the company is assisting their employees to succeed in their futures. “We provide a workplace
designed for you to succeed” (Siemens, 2014, p. 1). Some of the items that Siemens offers its
employees are a continuous learning environment, a competitive and comprehensive benefit
package, a global commitment to safety and environmental protection, a global commitment to
research and development, etc. (Siemens, 2014, p. 1)
Investor Relations
In a letter to its shareholders in August 2014, Siemens provides details on all of its different
business sectors. In the letter to shareholders, CEO Joe Kaeser made reference to a failed bid by
Siemens to obtain new business in the field of gas turbines. He went on to explain that during a
review of the bid that was accepted, Siemens would not have wanted to associate themselves
with such a deal. He did not go into detail about the circumstances surrounding the deal, but it
Comment [7]: The next heading is included along with each of the sub headings.
does show Siemens efforts to remain strong with regards to its vision and values. (Siemens,
2014, p. 1)
Siemens also does an excellent job of keeping their investors educated about the businesses
that the company is involved in and how well the businesses are doing financially. This
information can be found in their very well thought out and well written annual report. The
annual report covers all sectors of the organization and is written in a manner that most
individuals can understand.
Suppliers
Siemens has developed the Code of Conduct for Siemens Suppliers. Siemens expects all of
its suppliers to conduct business according to standards that they have set for their own company
regarding such things as “respect for the basic rights of employees and environmental
protection” (Siemens, 2014, p. 1). The Code of Conduct for Siemens Suppliers is based upon
principles established by the United Nations Global Compact. (Siemens, 2014, p. 1) The U N
Global Compact is a strategic policy initiative for businesses that are committed to aligning their
operations and strategies with ten universally accepted principles in the areas of human rights,
labour, environment and anti-corruption” (unglobalcompact, 2014, p. 1)
Plans and Programs
With the introduction of the next Global Engagement Survey, there will be a section for
employees to fill out asking them to voluntarily participate in individual interviews regarding
their issues and concerns within the company. Siemens will also interview employees who are
willing to discuss the results of utilizing certain benefit options, such as; tuition reimbursement,
eLearning, flexible work schedules, etc. This will help the company determine if the employees’
Comment [8]: This is a very important section here.. it is really the heart and soul of this project… what are YOUR plans for improvement in this area.
expectations were met and if they have any suggestions for improvements. Siemens will have
monitors positioned throughout the organization that will show excerpts of the interviews. This
will make other employees aware of benefits available to them and also how the company
intends to deal with the concerns that have been brought to their attention by actual employees.
The intention of this program is to include employees in business processes, which will increase
their job fulfillment and will spill over to additional stakeholders within the organization.
Political
Regulatory Structures
Siemens has a Government Affairs department in each of its offices worldwide. This
department is in charge of the legislative, regulatory and political operations. The different
teams are very valuable to Siemens and their vast experiences are an asset to the organization.
This was certainly realized back in November 2006, when it was discovered by regulatory
investigations that hundreds of employees had been siphoning off millions of Euros into phony
consultants contracts, false bills and shell firms to pay massive bribes to win contracts. (Dietz
and Gillespie, 2012, p. 1) Siemens could have tried to hide this huge bribery scandal, but instead
they faced it head on by making major changes in its organization. Siemens hired Transparency
International, a leading anti-corruption expert. First they fired some of its top executives and
hired a new management team. Next, Siemens offered a month-long amnesty program for
employees who would come forward with information about the bribery scandal. Over 40
employees came forward with evidence that incriminated several of their co-workers. Siemens
developed strict new rules and “anti-corruption/compliance” processes. In 2007 and 2008,
Siemens developed the Siemens Compliance System.
Comment [9]: Next major heading along with the sub headings with a thorough explanation under each heading.
Adherence to government regulations
The Siemens Compliance System was developed to ensure that the company and its
employees would adhere to government regulations in their business practices and that a scandal,
like the one in November 2006, would never happen again. Siemens worked in conjunction with
the Office of Public Prosecutor, the US Securities and Exchange Commission, the US
Department of Justice and various other regulatory and government agencies. With the
assistance of Siemens, the government and regulatory agencies were able to close their case
rather quickly. Siemens had cooperated with the agencies and developed the Siemens
Compliance System that was put into place worldwide within two years. (Siemens, 2014, p. 1)
Relations to government entities
Siemens has had its share of criminal investigations and charges being brought against the
company and many of its top officials during the November 2006 scandal, but they have
continued to develop their relationships with the regulatory and government agencies. Siemens
presented a paper called Information for Business Partners – Compliance with Laws,
Regulations and Conventions. It is designed with three themes; Prevent, Detect and Respond. In
the introduction of this paper, CEO Joe Kaeser, discusses the need for Siemens to run a clean and
transparent business. There is no room for corruption in any of the businesses that Siemens is
involved in and with. Siemens practices these standards in all aspects of its businesses, but it
also requires its business partners to uphold the same standards. There is a no tolerance policy
within the company regarding its employees, but there is also a no tolerance policy regarding its
business partners as well. These standards have helped Siemens continue to be highly regarded
by regulatory and governmental agencies. Siemens has even begun to teach other businesses
how to fight corruption. The company shares its experiences with other business partners so that
they may all continue to operate their companies clearly and transparently. (Siemens, 2013, p. 3)
Plans and Programs
An audit program will be put into place to review the company’s business practices and
partners. The program will include members of the Siemens organization, as well as some of
Siemens’ business partners and regulatory and government agencies. Siemens has done an
excellent job of developing a compliance system and sharing this system with others, but now
they need to assure themselves and others that they are running a “clean and transparent”
organization. By including business partners and regulatory and government agencies, Siemens
will openly share with these groups about the pros and cons of their compliance system and how
well it is actually being used within the organization.
Civil Society
NGOs (non-governmental organizations)
Siemens has been involved in a major controversy regarding their partnering with Nareva
Holding in a wind farm project located in the occupied territories of the Western Sahara. Nareva
Holding is a Moroccan industrial and financial group that will own and operate the wind farm.
“Nareva is said to belong to the Moroccan royal family, the same royal family that invaded and
occupied part of Western Sahara in 1975” (Sahara Press Service, 2013, p. 1). The Western
Sahara Resource Watch claimed that Siemens had failed to take their corporate social
responsibility commitment seriously. In response to the controversy surrounding this business
venture, Siemens discussed how this in no way is a political statement on the part of the
company. Siemens would like to assist the Western Sahara’s economic conditions. Wind energy
Comment [10]: Again, the plans and programs you would implement as the new CSR Director.
Comment [11]: Next major heading along with the sub headings.
is clean and helps to reduce the greenhouse gas emissions. They will be helping to bring
electricity to an area where it does not exist and this project will help to bring employment
opportunities for the local communities. (“Western Sahara,” 2012, p. 1)
Local Communities
Siemens allows each division of its organization to decide upon how they are going to help
the local communities. They feel that by organizing their assistance to local communities in this
manner allows them to help where they are needed most. The company has been involved in
mobile clinics in India. The mobile healthcare clinics are fully equipped with Siemens
Healthcare technology. The company would like to improve access to affordable healthcare to
remote areas within India. (Siemens, 2014, p. 1)
Customers
Siemens understands that their customers are the key to their success. They address their
customer’s needs by including mangers from all areas of the company and the world. They feel
that these individuals know their customers best, they know their customs and they speak their
language. For example, in Siemens’ healthcare industry the company offers a training network
of application training, clinical workflow training, technical training and eLearning programs.
(Siemens, 2014, p. 1)
The World
Siemens has achieved many rewards worldwide that attest to their dedication of sustainability
around the world. In 2014, the Dow Jones Sustainability Index again named Siemens the
world’s most sustainable company in its industry group. Siemens has also obtained top results in
Comment [12]: Please note throughout that all facts are supported with in text citations.
the Carbon Disclosure Project. The company has achieved Band A status in this project. A
Band A is the top ranking in the Carbon Disclosure Leadership Index, where efforts to achieve
energy efficiency and reduce CO2 emissions have been achieved. (Siemens, 2014, p. 1)
Plans and Programs
A program will be started to help citizens, within the Western Sahara, to find much needed
jobs. Many of these citizens are unaware of how to go about filling out a job application and
interviewing for a job position. Siemens will be conducting learning experiences for the citizens.
During these learning experiences, actual Siemens employees will share their knowledge and
help individual citizens apply for positions. They will have casual conversations with the
citizens that will constitute an interview. Since many of these individuals have never had a job
interview, Siemens would like to perform the interviews in a casual setting and with
conversation.
Environment
Local environmental impacts
Siemens has been a large factor in assisting the United States to achieve a sustainable energy
supply. A sustainable energy supply is efficient, affordable and clean. Siemens is helping the
US by “extracting fuel safely to minimize environmental impact, consuming fuel sources with
increased efficiency, diversifying fuel supply sources, stimulating renewable energy
development to reduce CO2 emissions, and deploying reliable distribution systems” (Siemens,
2014, p. 1). Siemens has partnered with several energy companies across the US to provide
solutions that will provide a sustainable energy future. (Siemens, 2014, p. 1)
Comment [13]: Plans that would be implemented if you were the next CSR Director of this company.
Comment [14]: Next major heading with all the sub headings included.
Global environmental impacts
Currently, Siemens has two global environmental protection plans in place. The first one is
“Serve the Environment” which is related to industrial environmental protection. The second
one is “Product Eco Excellence” which is for product related environmental protection. Both of
these plans are in place to “improve energy and resource efficiency, to fulfill growing
international requirements with regard to environmental protection, to increase customer
benefits, and to proactively strengthen our position as a sustainable company” (Siemens, 2014, p.
1).
Plans and Programs
Siemens will be starting a program, called “Clean and Green”, within the classrooms of
schools in the various communities in which they have businesses. In the classroom, Siemens
employees will help to educate children about how the company has had a positive impact on the
environment and they will show the children what they can do in their everyday lives to improve
the environment. Siemens feels strongly about the fact that the children of today need to be
educated about how to have a clean and green future.
Media Campaign
Objectives
The objective of this media campaign is to make both the outside world and the world within
Siemens aware of new programs being introduced that will continue to address the components
of the three spheres of sustainability; the social component, the economic component and the
environmental component. The first set of ads is going to be presented within the Siemens
organization. These ads will feature actual employees. This program will also be visible to
Siemens customers and suppliers as they enter the different buildings within each division. A
team will be put in place, consisting of members of the Human Resources departments and
Public Relations departments. These individuals will perform and record the interviews that will
take place. Together with these two departments, the company will produce a program which
will detail the pros and cons of various aspects of their business through the eyes of actual
employees. There will be no actors in this production. It will contain real people, with real
ideas.
In the second program, the audit, the target audience will be all encompassing. It will include
employees, suppliers, customers, investors, regulatory and government agencies and society. All
of the stakeholders involved in the Siemens organization will be given an opportunity to be
updated on the results of the audits. Since the entire company cannot be audited all at the same
time, a timeline will be developed to show when and where audits are taking place. The results
of the audits will be written up by members of the teams and they will be required to present
these documents in a form that will be understood by all levels of individuals. The timelines and
results will be presented in the company’s monthly newsletter for employees and the shareholder
letters that go out on an annual basis. To make the outside stakeholders aware of the
information, Siemens will put out a press release on an annual basis describing where the audits
took place and the results of the audits. Siemens will continue to be “transparent” with the press
releases. They will not report only the positive results, but they will also report the negative
results and how the company intends to repair each situation.
The third program will be taking place in the Western Sahara and will be conducted with
Siemens employees. The company will ask for volunteers from the departments directly
responsible for the wind turbine project. These individuals will be assigned to different areas
within the community. Siemens will first begin with a campaign conducted by Human
Resources and Public Relations to target the areas responsible and ask for their assistance.
Human Resources and Public Relations personnel will conduct presentations about the
communities that employees would work in and what would be expected of them during their
visits to the different communities. The employee’s efforts to help the citizens of these
communities will be presented in a television commercial to be shown in the areas affected by
this project. The Public Relations department will also put out a press release detailing the
program and the results of its efforts. The commercial will use actual employees and will depict
the employees and the citizens in their natural environment. The commercial will document the
efforts being made to help the citizens attain positions on the wind turbine project and will show
the citizens at work after they have been hired by the company.
In the fourth program, the “Clean and Green” program, the company will utilize the
assistance of social media to present the efforts being made in the classrooms. Siemens will use
their own website and will also get assistance from Facebook and YouTube. The company has
hired Video Productions, an outside company, to assist in the development of a video which will
contain scenes from all of the schools where the program is present. This video will show
classroom activities and field trips that the students attend to learn more about how they can help
the environment. It will also show the children what the company is doing to currently help the
environment in different areas of its business. The audience targeted will be all of the
stakeholders of the Siemens organization.
Conclusion
Siemens has been in business for 166 years and it certainly has a promising future ahead of
them. Siemens understands that with the right people standing with them, whether it is their
employees, customers, suppliers, investors, or regulatory and government agencies, they can
provide a future for citizens that will sustain them for many years to come. With the company’s
innovations, such as the wind turbine project, they are helping to keep the environment clean and
green.
When Siemens was faced with criminal charges against many of their top executives, the
company did not try to hide this information from stakeholders, but instead they used it as a tool
to learn new things and to teach other businesses so that they might not have to go through the
same ordeal. This was a time when Siemens had to fire many of its executives and employees,
but the company also gave many individuals a chance to come forward and share the role that
they played in the scandal with no repercussions. There are not many companies who would do
this for their employees. It took Siemens two years to recoup their losses, both financially and
company-wide, but now the company is an even stronger company who together, with their
stakeholders, will face the future with only positive hopes and dreams.
Comment [15]: Clear conclusion to the overall project.
References
About Siemens. (n.d.). Retrieved from www.siemens.com/about/en
Dietz, G., & Gillespie, N. (2012, March 27). Rebuilding trust: How Siemens atoned for its sins.
Retrieved from www.theguardian.com/sustainable-business/recovery-business-trust-
siemens
Mckenna, J. (2013, April 16). Analysis - Siemens criticised over Western Sahara project.
Retrieved from http://www.windpowermonthly.com/article/1178474/analysis---siemens-
criticised-western-sahara-project
Overview of the UN Global Compact. (n.d.). Retrieved from
www.unglobalcompact.org/AboutTheGC/index.html
Sahara press service. (2013, March 6). Morocco: NGO denounces Siemens wind farm project in
Western Sahara. Retrieved from allafrica.com/stories/201303080795.html
Western Sahara: Polisario and NGOs say Siemens' windmill project contravenes intl. law, raise
human rights concerns | Business & Human Rights Resource Centre. (n.d.). Retrieved
from http://business-humanrights.org/en/western-sahara-polisario-and-ngos-say-siemens-
windmill-project-contravenes-intl-law-raise-human-rights-concerns
What is light rail? (n.d.). Retrieved from www.lrta.org/explain.html
Comment [16]: Note the separate reference list correctly formatted in APA.
