Schneider Electric Opening Up to External Innovation
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Schneider Electric is the world’s largest environmental and energy management company. Founded in 1872, it has since become a leading industrial and energy management company with a portfolio of businesses that includes modern industrial, distributed grid solutions and electrification products for renewable energy solutions. As the largest industrial conglomerate in the world, Schneider’s brand is characterized by innovation, trust, and reliability. At the beginning of the year, Schneider launched its first-ever digital innovation conference. The event aimed to insp
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Over the past several years, Schneider Electric has been aggressively expanding its footprint beyond traditional markets, through both organic growth and through acquisitions. In the past year, the company opened up in an entirely new market: biopharmaceuticals, as part of a global strategy to be a key player in the life sciences industry. The shift in strategy involved a significant investment, and I was asked to lead the opening up effort. Schneider has always been known for their “Think Bold” philosophy, and that became a guiding principle
SWOT Analysis
Schneider Electric’s 2019 “State of the Energy Industry” report revealed the following trends and statistics. – The Energy Transition will see a rise in the adoption of renewable energy sources such as solar and wind energy, from 13% in 2018 to 17% in 2020. – The energy industry will shift from being predominantly reliant on centralized power grids to decentralized systems, with an increase in the use of energy storage, smart grids, and
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I recently attended a conference where we learned about Schneider Electric’s Open Innovation program. original site This is the first time that Schneider has made their products freely available to companies around the world, and I have been impressed with the level of engagement and accessibility. Schneider had set up a dedicated innovation center in Shanghai, where they are actively working with external startups to solve specific industry challenges. One interesting innovation they are working on is called the “Solar-powered Building”. It’s basically a rooftop solar array that s
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Schneider Electric is the leader in the energy industry. It’s no secret that they’re very passionate about their innovation. They’re always on the move, trying to improve their industry. So, when I think about innovation, I think about Schneider. One of the most impressive initiatives that they’ve undertaken is their Open Innovation strategy. As you’ll see below, this has paid off with a record of innovation. In 2016, they launched the Schneider Open Innovation Challenge, and
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In late 2018, I was working as an account manager in a consulting firm in Singapore. I’m also an MBA student at University of Chicago, where I am majoring in Operations and Information Management (OIM) and Business Analytics. One day, the consulting firm’s senior partner, who was my supervisor, asked me, “Would you mind doing an executive summary for one of our clients?” I had a few options. One of them would be the one we were assigned to do. I accepted the job