Management Report & Annexes | Fundamental Information About the Group
1.6 Corporate Environment
Bayer’s business activities are impacted by economic and social conditions. At the same time, Bayer contributes to shaping these conditions.
Global economic growth in 2014 was at the level of the previous year but below expectations. While the upswing in the United States continued, Europe’s economic recovery was hesitant. Development in Europe was held back by continuing high unemployment, especially in the countries of southern Europe. The pace of growth in the emerging markets declined. China continued to experience a high, though weaker, rate of growth. Positive stimuli for the world economy came mainly from the persistently expansionary monetary policy of the industrialized countries and the drop in the oil price, which strengthened private consumption.
| Economic Environment [Table 3.1.1]
|of which Germany
2013 figures restated
1 real GDP growth, source: IHS Global Insight
2 including about 50 countries defined by Global Insight as Emerging Markets in line with the World Bank.
as of February 2015
See Chapter 4 for more information on the economic environments of our subgroups.
As a commercial enterprise, Bayer is part of society, and the company’s business activity is therefore closely linked with the social environment. The influence of stakeholders (see Graphic 3.1.5) on our business activity has steadily increased in recent years. Their expectations regarding sustainable development affect public acceptance of the company and thus our commercial success. We take the wide-ranging requirements of our stakeholders seriously and consider them wherever possible in our business activities. Evaluating their expectations and requirements provides significant impetus for the continued development of our activities, our risk management and our reporting. At the same time, open dialogue with our stakeholders gives us an opportunity to explain the value that our products and services hold for society. This is of growing importance for the success of our business model.