German corporations are unwaveringly backing their operational strategies.
Simone Menne is a prominent figure in the economic sphere. As the first woman to hold the CFO position at a DAX company, at Lufthansa, and now serving on multiple boards and as president of the American Chamber of Commerce, she's seen it all. The 64-year-old executive views Germany at a significant juncture, particularly with regards to the potential second Trump presidency in the USA.
Menne believes that people are naturally resistant to change, which she discussed in the podcast "So techs Germany". This inherent resistance to change makes transforming companies an uphill battle. "People are just not wired for change," Menne states, "It's a fact. Habits, in a way, serve an evolutionary purpose."
German companies often opt for tweaking instead of questioning their business models. This mindset poses a challenge as the political landscape shifts. "The tricky part is when your partners, trading partners, or political partners deviate from the norm," Menne explains, "Companies need to explore various scenarios. What if we faced 10% tariffs on all imports to the USA, with China imposing 60% tariffs in retaliation?"
Menne suggests approaching these situations with strategic calmness instead of panic. "We should not surrender simply because Mr. Trump threatens," she advises, "Instead, we should consider the implications of the USA without Europe."
Unity within Europe is key, according to Menne. "That's a crucial factor," she emphasizes, "Focusing on individual US states can help. If California decides to act independently, setting ethical guidelines, it's tough for other states to oppose."
Menne also calls for a drastic overhaul of Germany's bureaucracy. "Things have changed drastically since I started," she points out, "Accounting was done manually with a pen. Now everything is automated by SAP, yet there are still so many people in accounting. It's baffling why!"
She admires the transformative efforts of Bayer CEO Bill Anderson, who's stripping away hierarchy and restructuring the company using project structures, resulting in a major cultural overhaul.
Menne encourages optimism. "We should not let pessimism set in," she warns, "While fewer people starve, many more have access to education, and vaccination rates are soaring - these are achievements worthy of our continued dedication."
The economy, being a significant aspect of Germany's landscape, is currently facing challenges due to potential changes in the USA's political landscape. Simone Menne, a prominent figure in the economy, believes that German companies need to adapt and explore various scenarios to overcome these challenges.
Menne, in discussing the resistance to change in German companies, highlighted the need for strategic calmness instead of panic, emphasizing the importance of considering the implications of a potential shift in the USA's position without surrendering to threats.
