Bosch CEO Denner: seizing opportunities presented by digital networking together

Reutlingen – German companies need to work together to seize the opportunities and possibilities presented by networking over the internet. These were the words of Dr. Volkmar Denner, chairman of the Bosch board of management, at a gathering of industry representatives in Reutlingen. He went on to say how important it is to work together in both interdisciplinary and cross-sector ways, and that collaborations between companies with complementary know-how are a major driver of the connectivity trend. Bosch, for example, is working with ABB, Cisco, and LG to develop a software platform for the smart home. The networking of industrial production also holds out the promise of joint innovations and joint successes. 

Digital networking: Seizing opportunities together
Denner stressed that the opportunities presented by the trend of connectivity are not reserved for major international corporations. “We all need to get a handle on these opportunities – in industry, trade, the service sector, and skilled trades. And we need to go about it in a more ‘connected’ way.” Denner challenged the 750 guests in the audience to take a chance on something new more often – perhaps even together. “Our goal must be to develop new products and new business models that enhance the quality of life.” Digital networking offers undreamed-of technological possibilities, he went on. The economic order and the competitive landscape will also increasingly be subject to change. 

A new culture of entrepreneurialism – in established companies too
According to Denner, the connected world is a highly volatile and dynamic one, and the task for entrepreneurs is to actively shape this world and make the most of the opportunities it presents. At the same time, external changes are demanding a more dynamic process of development within companies. “What we need is a new culture of entrepreneurialism – in established companies too. We need entrepreneurs who dare to sail uncharted waters, who aren’t put off by the risk of failing from time to time, and who have the experience to limit the fallout from any setbacks.” When Bosch enters new and generally highly dynamic markets, it does so with units that are small, agile, and independent. One recent example is the company it has founded to cater to the internet of things and services. Bosch Connected Devices and Solutions GmbH develops and sells networked end-user devices as well as solutions based on them.

A task for politics: openness to technology
Denner wants policymakers to support the development of technology across the board. “Politicians should avoid backing certain technologies over others, as it is becoming less and less clear which technologies will ultimately win out and prove successful.” Denner had words of praise for the German government’s aim of expanding its high-tech strategy to become an interdepartmental strategy to support innovation. “What’s important now is to see these policies fleshed out. We need a little less bureaucracy and a little more dialog and collaboration between science and business, as well as a more flexible way to award funding.” In Denner’s view, the primary role for politics is to create a climate of openness to issues of relevance to the future.

The Bosch Group is a leading global supplier of technology and services. According to preliminary figures, its roughly 281,000 associates generated sales of 46.4 billion euros in 2013 (Note: due to a change in the legal rules governing consolidation, the 2013 figures can only be compared to a limited extent with the 2012 figures). Its operations are divided into four business sectors: Automotive Technology, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its more than 360 subsidiaries and regional companies in some 50 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. In 2013, Bosch applied for some 5,000 patents worldwide. The Bosch Group’s products and services are designed to fascinate, and to improve the quality of life by providing solutions which are both innovative and beneficial. In this way, the company offers technology worldwide that is “Invented for life.” The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.  Additional information is available online at www.bosch.com and www.bosch-press.com, http://twitter.com/BoschPresse.

/ Photo & Report provided by Bosch Press Release - sujung.jang@kr.bosch.com

/ MediaPaper.KR mediapaper@ymail.com  Sejin Oh

/ The News Article was written by receiving a Press Release.