Siemens’ 175th anniversary: What makes a successful company?

What do successful companies have in common? How can a long-standing company that survived two world wars keep its soul and become ready for the future? Those who know the answer can achieve success today and shape their destinies tomorrow.

Siemens is one such company. Its 175-year-old history is a story of reflections, ideas, and principles, of transformation, success, and failures, of economic upswings and social changes. It explores the many innovations that disrupted the status quo and influenced our lives, communities, and economies, whether in industry, infrastructure, healthcare, or energy. It also raises questions for leaders searching for improvement – for themselves as leaders, for their institutions, and society.

?Shaping the evolution of the electrical industry?

On October 1, 1847, Werner von Siemens founded a start-up in Berlin – Telegraphen-Bauanstalt von Siemens & Halske – to build telegraphic installations and other electrical equipment. Two years later, he constructed Europe’s first long-distance telegraphic line.

The story of Siemens’ energy business began in 1866 when Werner von Siemens discovered the dynamo-electric principle, the cornerstone of electrical engineering. Since then, Siemens has electrified the world – whether through the world’s first public power plant in the British town of Godalming in 1881, the electrification of Ireland in the 1920s, or powering entire nations with the power plant megaproject in Egypt. With Siemens Energy, we feel committed to this history and are opening a new chapter.

Proving itself in crises with resilience and the ability to change

For decades, Siemens has experienced ups and downs, setbacks, and even mistakes. But the company has always made a strong comeback. What was its formula for success? And what can we learn from its history?

Many qualities contribute to a successful company, but some help it survive change. These are the characteristics to which we at Siemens Energy are committed and continue to develop.

1. Commitment of its people: Siemens has never shied away from challenges, from overcoming the first telegraph crisis in the home market in the same year of its founding to laying the transatlantic cable in 1874-1875, to the aftermath of two world wars, to the compliance crisis. The willingness to make things happen and stick to commitments despite massive challenges has built a reputation on which our future success is based. This would not have been possible without the perseverance and dedication of our employees and the pride they take in keeping their promises.
2. ?The power of ideas: Our passion for technology and innovations is the glue that keeps the different parts of the company together. Striving for new ideas, trying them out, failing, and finally succeeding with a better solution is integral to the company’s mindset and people. This organization has been a fantastic source of ideas from the beginning – from the invention of the dynamo machine, which laid the foundation for power engineering, to meaningful solutions in the field of healthcare technology, such as the first magnetic resonance tomograph, to the creation of an operating system for the Internet of Things. Some innovations led to ideas that were not successful, but even more, they have built the base for successful businesses and products which changed people’s life.
3. Thinking global, acting local: Working as part of Siemens Energy’s global presence over a long time fascinates me. Hardly any country in the world is without a Siemens product or project. The company has contributed to the development and growth of societies around the world. It is committed to being a good citizen – building the local workforce and helping societies to grow and prosper. This involves more than simply speaking the local language. It also means understanding attitudes and local customs, acknowledging them, and adopting them wherever they are consistent with the values of the company as a whole.?

Today, we honor the 175-year history of Siemens while embracing our present and celebrating our vision for the future.

Three years ago, Siemens Energy was created as an independent, public company at a pivotal moment. Looking back, I believe one of the unique components of Siemens Energy is that we are still a start-up. The only difference is a history that goes back decades and gives us the resilience to overcome obstacles. We do things differently, adopt a fundamental start-up mindset, and lead and drive the change we want to see in our industry – and in the world at large.

In a time characterized by unprecedented transformation and geopolitical challenges, the ability to anticipate change, adapt quickly, and improve constantly is what successful companies like Siemens are all about. Or, as Werner Siemens aptly wrote to his wife in 1854: “There is powerful magic in the word, ‘I want,’ if they’re meant in earnest and if there’s conviction behind them. Of course, one mustn’t shy away from obstacles and detours, and one must never lose sight of the objective for a moment.” This legacy motivates me every day and will remain an obligation for us at Siemens Energy.

Happy Birthday, Siemens!

Christian Bruch