1. Every company around the world has its own strategies and plans that lead it to success. Companies should consider many factors for being a successful business and these factors are profitability, growth, cash flow, customer care, the quality of company's products, industrial relation and added value profitability.
Siemens is a multinational firm. They have key factors of success that make it one of the most successful businesses around the world. One of the key factors of success that Siemens company has, is that Siemens's head office decide what to produce and where. In addition Siemens offers the full spectrum of the company's products and services. Moreover they are planning to produce more services than goods to fulfill customers' needs. According to Siemens UK Web site another key factors is working in partnership with their customers which helps them to achieve the performance goals and service standards that make their business success. Siemens also mention on their Web site that diversity is an important success factor in global competition. Companies that systematically nurture diversity can support opportunities for growth more quickly than others and have a better understanding of their customers. Siemens is in daily contact with over two million customers everywhere in the world and only an employee base that is similarly diverse can handle the requirements of such a broad group.
Segmentation by Siemens means that how customers are using their goods and services according to the differences in their needs and behavior. The segmentation strategy that Siemens use is that 48% of its turnover is from the process of making the low materials into finished products. On the other hand 52% of its turnover is focusing on the services. Such as banking, insurance, transport etc.