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Friday, 29 September 2017 15:28

New Energy Study Finds Businesses Strongly Concerned about Resiliency but Lack Course of Action

Harvard Business Review Analytic Services study found only one third of organizations have resiliency plans

LOS ANGELES – A new study released today by Harvard Business Review Analytics Services, sponsored and created in part by Siemens, surveyed leaders from organizations including businesses, hospitals and higher education institutions from across the U.S. on their efforts to address business resiliency and energy innovation. The study was released in conjunction with a Harvard Business Review and Siemens series in Los Angeles on “Delivering Economic Resilience in the New Energy Paradigm.” The event featured policy and business leaders discussing energy’s role in broadening the L.A. region’s resilience efforts with speakers from the Los Angeles Department of Water and Power and 100 Resilient Cities.

“The U.S. is entering a new energy era. To meet the demands of a changing energy landscape, organizational leaders are well advised to add energy innovation to their skill sets”

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The study found that while businesses have strong energy-related concerns—including power interruptions from weather-related events and cyberattacks on power grids—the majority of organizations have yet to embark on any significant course of action. In fact, only 27 percent of companies said they have initiatives in place to address climate change and even fewer have a business resiliency plan.

“The disconnect between concern and action that this study presents is due to the fact that we’re moving into new territory. Until recently, organizations could have these types of concerns but not necessarily the tools to take action. But now, technology is ready to be deployed and the economics are favorable,” said John Kovach, Global Head of Siemens Distributed Energy Systems. “Technology offers us the opportunity to address challenges like extreme weather by embracing decentralized power, the on-site energy systems that can keep power running while providing the potential for major cost savings and a greatly reduced carbon footprint.”

“The U.S. is entering a new energy era. To meet the demands of a changing energy landscape, organizational leaders are well advised to add energy innovation to their skill sets,” said Alex Clemente, Managing Director of Harvard Business Review Analytic Services.

The study also asked organizations to share their efforts to implement decentralized energy systems and technologies to help make their operations more resilient. The findings showed that although the vast majority of organizations are focused on improving energy efficiency, only about one third are generating power on-site. These business leaders are also expecting government to provide support and leadership and the vast majority see municipal governments as an important partner to assure business resiliency, although very few have established any partnerships with the government.

For access the full report, please visit https://hbr.org/resources/pdfs/comm/siemens/HBRAS.Siemens.9.25.17.pdf.

To learn more about Siemens decentralized energy portfolio, please see www.usa.siemens.com/onsite-power.

This press release and further material is available at http://news.usa.siemens.biz/.

Siemens Corporation is a U.S. subsidiary of Siemens AG, a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. With approximately 351,000 employees in 190 countries, Siemens reported worldwide revenue of $88.1 billion in fiscal 2016. Siemens in the USA reported revenue of $23.7 billion, including $5.4 billion in exports, and employs approximately 50,000 people throughout all 50 states and Puerto Rico.