Wertorientierte Unternehmensführung bei Siemens

Heinz-Joachim Neubürger
Additional contact information
Heinz-Joachim Neubürger: Siemens AG

Schmalenbach Journal of Business Research, 2000, vol. 52, issue 2, 188-196

Abstract: Summary Siemens continues to drive its entire management system enterprise-wide to focus on Economic Value Added (EVA), known at Siemens as “Geschäftswertbeitrag” (GWB). Basically, GWB is defined as net operating profit after taxes (NOPAT) before financing costs minus capital cost, which represent the return minimum on capital employed. According to this concept a business creates value only when it recovers its cost of capital and furthermore fulfills the expectations of capital markets regarding GWB improvements. Because the three major components of Siemens — Operations, Financing and Real Estate, and Pension Fund — are fundamentally different from each other, Siemens adjusts its calculations of GWB for each one. Ambitious GWB targets, GWB-oriented compensation schemes and extensive value reporting are integral components of value-oriented management at Siemens.

Date: 2000
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/BF03372615 Abstract (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sjobre:v:52:y:2000:i:2:d:10.1007_bf03372615

Ordering information: This journal article can be ordered from
https://www.springer.com/journal/41471

DOI: 10.1007/BF03372615

Access Statistics for this article

More articles in Schmalenbach Journal of Business Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().