Commerce Germany July 2015

commerce germany OFFICIAL PUBLICATION OF THE AMERICAN CHAMBER OF COMMERCE IN GERMANY June 2016 • VOL 14 • ISSUE 2 €7.70 Digitization of the Workplace 113th Annual Membership Meeting Innovation: Driver of Growth Business Barometer: Set for Growth Baden-Württemberg: Musterländle High-Tech: German Delegates Visit US West Coast amcham germany viewpoint Innovation – Key Factor on the Road to Success As long ago as the Middle Ages, silver ore mining and its associated metallurgic industries made Saxony incredibly rich and – most of all – incredibly rich in innovative metal forming technology. When, in the late 18th century, Saxony became a continental pioneer of the Industrial Age, it soon established itself as an industrial and scientific leader in Europe, especially as a manufac- turer of innovative production machinery. A major reason for this was prudent private and public investment in education, science and technology that fueled business growth and success. Today, the vibrant spirit of entrepreneurship and innovation, which has been a defining ele- ment of the Saxon economy for more than eight centuries, is still our most important resource. Moreover, the success of the Saxon economy still hinges on our education system, a well-trained Stanislaw Tillich workforce, excellent public infrastructure and competitive research and development institutions. Prime Minister of the Free State of Saxony We see education and science as tools that empower people to create innovative sustainable solutions to various challenges. To this end, Saxony funds hundreds of technology projects every year, strongly supports application-related research and generally adopts solid financial and pro-business policies. This is the road to success. Take, for example, materials science innovations: Three hundred years The spirit of ago, Saxon scientists discovered the manufacturing process for porcelain. Today, ceramic materials entrepreneurship engineered in Saxony’s research institutes replace teeth, enable fuel cells and batteries, improve the and innovation is performance of heavy duty tools and automotive parts and serve as energy-efficient sources of light. our most important Saxon science and industry have applied their knowledge to other materials as well, such as sili- resource con. “Silicon Saxony” is Europe’s largest network in the microelectronics sector, and for good reason: every second chip produced in Europe comes from Saxony. This achievement is, in part, thanks to the US-based investor and chip producer AMD who came to Saxony in 1996 – just as more than a hundred other US investors did and continue to do. Like all foreign investors in Saxony, more than one hundred US companies have taken root in the fertile Saxon economy and represent some of the most competitive and innovative brands in the world. Meanwhile, Saxony’s hallmark business sectors – manufacturing technology, automotive and energy technology as well as ICT – are merging into Industry 4.0, bringing forth solutions for fully automated and fully digital production as well as electric mobility and renewable energy. At the Hannover Messe, Chancellor Merkel and President Obama strongly committed to supporting innovations as the way forward for the transatlantic partnership. Here in Saxony, we are contributing to this transatlantic innovation push. Come visit us and have a closer look! When the going gets tough… Interim Management in Finance/Accounting/Controlling Committed & Professional Ad hoc/vacancy/sick leave bridging, startup of business sites in Germany 20years+ professional experience in dynamic environments and US head- quartered companies, mainly Software/IT Familiar with all aspects of Finance, managerial as well as operational Strong SOX background, SSC implementation, Sales Controlling, German & US GAAP & IFRS and more Hands on, computer literate, multi-lingual, business partner oriented If you need someone to go the extra mile for your business, we should talk! PCS Schlessing GmbH — Bodo Schlessing, Managing Director — Im Ruessel 7 — 64839 Muenster (Germany, Frankfurt area) — Phone +49 (0)178 695 5358 — email: [email protected] www.pcs-schlessing.de June 2016 commerce germany 3 11 th Edition of Corporate Responsibility Publication Available Now Diversity & Inclusion Diversity & Inclusion for a company’s culture More Information and success. It confirms that Diversity & The American Chamber of Commerce in Inclusion are increasingly important for busi- For further information, please contact: Germany e.V. (AmCham Germany) and nesses. Lena Verbeek Frankfurt Business Media – Der F.A.Z.-Fach- T +49 30 288789-28 verlag have published their annual Corpo- Book Launch in April 2016 E [email protected] rate Responsibility Publication. The publication was launched at This year, the focus is on “Diversity & Inclu- the AmCham Germany Annual sion – Gelebte Vielfalt in global agierenden Membership Meeting in Leipzig in Unternehmen”. The 11th edition portrays April 2016. best practice examples of Diversity & Inclu- sion measures and strategies from a variety Available online of AmCham Germany’s member companies. These include diversity networks, initiatives The Corporate Responsibility Publi- for the support of refugees as well as activi- cation 2016 is available online: ties regarding individual career promotion for both genders. Expert articles on issues such as unconscious biases and inclusive leadership complement the companies’ perspectives. Trend survey The Corporate Responsibility book also Hardcopies can be ordered via includes a trend survey on Diversity & Inclu- [email protected]. sion that was conducted among AmCham Germany’s member companies. The survey focuses particularly on the relevance of www.amcham.de 2016 Anzeige CR cg2-2016.indd 2 20.05.2016 17:43:01 contents cover story 6 Innovation – Driver of the Growth / PricewaterhouseCoopers AG; Evonik Industries AG; Klöckner & Co SE from amcham germany members 21 member know-how: Aligning Business and IT to Drive Innovation / Damovo Deutschland GmbH & Co. KG; Pharma Dialogue for the Future of Healthcare / MSD SHARP & DOHME GmbH amcham germany member support 17 access your global network: Italy – More than Food and Fashion 20 investment region: Baden-Württemberg – Musterländle 22 policy highlights: Let's Talk Digital Transformation – Visiting High-Tech Companies amcham germany events 8 event report 12 special report: 113th Annual Membership Meeting 18 key studies: XIII AmCham Germany Business Barometer – US Companies in Germany Set Again for Growth chamber news 11 special report: US-German Internship Program 24 Atlanta Business Day 26 special report: AmCham Germany Board of Directors Meeting 25 new members 27 chamber calendar Cover (from left): Kate Johnson of GE Digital; AmCham Germany Vice President Isabel Hochgesand; and Kathleen B. Fish of Procter & Gamble at the 113th Annual Membership Meeting June 2016 commerce germany 5 cover story Collaborative innovation Transforming business Driving growth Innovation Five Basic Rules for Mastering Innovation nnovation has become a key differentiator and innovation was the preserve of research and de- Innovative companies do not only rely on their needs to be on top of every boardroom agenda velopment (R&D) units at the sidelines of the internal capabilities but take advantage of the to deliver on a capabilities-driven strategy and business are gone. Successful companies recog- wealth of knowledge that exists outside of the or- provide sustainable growth. Innovation is an nize that innovation is a mainstream process, ganization. On top of that, conversely, they share Iessential competitive advantage, since innovative which brings together frontline teams, custom- their knowledge when doing so does not jeopard- companies have proven to grow quicker, generate ers and a range of different partners from be- ize their own competitive position. higher margins and therefore be more successful. yond the organization. Of course every company has a different ap- Unfortunately, being innovative does not Seek to come up with breakthrough and proach to innovation, and there is no golden rule come naturally to every company, but has to be radical innovations. Think big – this seems to to guaranteed success. But reflecting on the five fostered and actively promoted. While most com- be the case for innovative companies. Rather than key factors above might bring you one step clos- panies nowadays seem to have understood the trying to find slightly better products, they focus er to not only standing in awe of companies like importance of innovation, some are acting on it their innovative energy and budgets on whole Google, Apple or General Electric, but actually fol- more successfully than others. How come? new sources of revenue. lowing in their innovative footsteps. Based on a large global study on innovation Explore and use a conducted by PwC, there are five key factors differ- vast variety of innova- entiating innovative companies from their peers. tive business models. Innovative companies have Take them as basic rules on how to survive and Not only are innovative proven to grow quicker, win in a disruptive world: companies looking for prod- Commit on a clear-cut innovation strat- uct innovation but further- generate higher margins and egy. In order to build and sustain an innovative more explore different inno- therefore be more successful culture encouraging innovation in all areas, innovative business models, for vation strategy has to be put right at the heart

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