22/11/07

«Vibrant Curiosity – Success with a System» - Würth successfully holds its first Media Day

Künzelsau. About 30 journalists from Germany and abroad followed the Würth Group’s invitation to the first Media Day which took place at the corporate headquarters on 22 November 2007. Under the motto “Vibrant Curiosity – Success with a System“, they gained deep insight into the corporate strategy and the corporate development of the market leader in the field of assembly and connecting technology.

The Media Day centered on topics such as Würth’s recipe for success, the opening up and development of worldwide markets as well as the meaning of innovations for a trading business like Würth. The recipe for success of the trading business operating worldwide was summed up nicely by Robert Friedmann, Chairman of the Central Managing Board of the Würth Group: "Growth is always possible – the engine that drives us is our love for selling, our consistent orientation towards the customer and our curiosity about new growth fields."

The organizers were particularly proud of the fact that they had succeeded in winning Prof. Dr. Hermann Simon as guest speaker. The expert in the field of strategy, marketing and pricing talked about the innovation strategies of Hidden Champions. He put forward the theory that they “hardly ever do things as preached by management gurus“.

Subsequently, Prof. Dr. h. c. mult. Reinhold Würth, Chairman of the Supervisory Board of the Würth Group’s Family Trusts, spoke about his more than 50 years of experience as entrepreneur. He said that, being driven by vibrant curiosity, he has always wanted to see “beyond the tip of his own nose“. In his opinion, this was a basic attitude that had pushed the development of the company and resulted in the establishment of new business areas. The following dialog with Prof. Dr. Simon on innovation management at Hidden Champions rounded off the topical area of innovation.

Würth is growing continuously – in mature as well as in new markets

Peter Zürn, Chairman of Adolf Würth GmbH & Co. KG (AW KG), who went into the topic of growth potential in mature markets, summed it up by saying that saturated markets do not inevitably end up in stagnation “but make the game really interesting.“ In the opening up of markets the organization of sales/marketing – the core competence of Würth – was the main lever for the further exhaustion of the market. The measure for this was the customer whose needs showed the way to go.

Exactly for the opening up of new markets, adjusting to different market conditions is of importance for the Group of companies. Dr. Reiner Specht, member of the Central Managing Board of the Würth Group, explained this fact by using the example of Russia. “In Russia, we are above all challenged by the national culture. However, Würth is on a good way to bring both the national culture and that of our company closer to each other“, he said.

Siegfried Humm, head of the Product Development of AW KG, lectured on the central role of innovation management in the Würth Group. In doing so he stressed the significance of own product development for the success of the Group and the importance of permanently adjusting the product portfolio to the needs of the market and the customer.

Being pleased about the good response to the Media Day, Robert Friedmann finally stated: “We could well imagine to offer this event on a regular basis.“