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HOPES TO LEAVE THE COMPANY SET FOR LIFE. HOPES TO LEAVE THE COMPANY TO HIS EMPLOYEES. YOU HAVE THE PURPOSE, WE HAVE THE CURRICULUM. WhenThe Wall Street Journal asked nearly 2,000 corporate recruiters to name their top 50 business schools, Daniels College of Business at the University of Denver ranked among their favorites. If you have a bigger vision for your life and career, join us at Daniels.We emphasize leadership, decision making and ethics in our 8 graduate degree programs and over 15 concentrations.We also offer innovative executive and professional programs. Call 1-800-622-4723 or visit us at www.daniels.du.edu to download a catalog. The Wall Street Journal is a registered trademark of Dow Jones L.P. Issue date: September 17, 2003. GET A HEAD START ON FALL ENROLLMENT. CALL 1-800-622-4723. Business schools have become very interested in questions of ethics, governance, and sustainable development. For its part, Siemens promotes corporate citizenship and sustainable development, follows its own corporate governance model, and has adopted the German Corporate Governance Code. At the same time, you've said that Siemens operates by the principle "Cash is king," something many businesses may be afraid to say so bluntly, for fear the public might confuse that sentiment with greed! How do you show the public that corporate citizenship and profit-making aren't mutually exclusive? Well, I believe this supposed conflict is quite artificial. We know that only a profitable company has the financial clout to successfully shape its destiny by investing in the future— in areas like R&D, vocational training, and continuing edu- cation. Profitability is critical for offering employees secure jobs over the long term. And we know that only people who don't have to worry about their jobs will be content- ed, motivated, and creative. Without such people, we can't be successful. Profitability and citizenship, then, are not a contradic- tion, but two sides of the same coin. Cash is the key. But one must guarantee that every principle of good corporate governance is rigorously followed. Absolute integrity will assure the public that greed plays no role at all. You have been at Siemens for more than 30 years. What do you most hope to accomplish as its leader in upcoming years? Most of all, I hope that Siemens employees throughout the world will have learned how to master their respective busi- nesses and ensure that those businesses can sustain leading positions. I hope that our people will have identified and fully exploited every possible synergy within our company. And I hope that every business will stand firmly on its own, since cross subsidies cannot be tolerated over the long run. If these three basic conditions are met, I'm confident that Siemens will prevail as the industry benchmark. What trends and issues should business schools prepare themselves and their students for in the next decade? What do you foresee as management's greatest challenge? The greatest challenge we all face, today and in the future, is the ability to change and adapt successfully to new conditions, whether brought about by a recession, a new technology, or the opening of new markets. The ability to learn, accept, and apply new ideas must be so ingrained in the management mindset that speed and flexibility are guaranteed. At the same time, we must continue to hold to the highest standards of integrity and transparency. But the future will see an ever faster pace of development: The slow will be punished.■ z BizEd MAY/JUNE 2004 25