Management Report & Annexes | Basic 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 2013 was at the previous year’s level. The crisis in a number of European countries continued to hamper development, especially as a result of ongoing national budget consolidation and high unemployment. However, the trend was positive – over the course of the year, the European economy grew slightly again after several quarters of recession. Economic output continued to increase in the United States, albeit at a slower pace than in the previous year. The biggest contribution to global growth again came from the emerging markets. The global economy also received a positive stimulus from the highly expansionary monetary policy that continued in the industrialized countries.
|Economic Environment[Table 3.1.1]
||Growth* in 2012
||Growth* in 2013
|of which Germany
* real GDP growth, source: Global Insight; source for Germany: Federal Statistical Office
*** including about 50 countries defined by Global Insight as emerging markets in line with the World Bank as of February 2014
See Chapter 4 for more information on the business environments of our subgroups.
As a commercial enterprise, Bayer is part of society, and the company’s business activity is therefore closely linked to the social environment. The influence of stakeholders 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 these 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 demonstrate the value that our products and services hold for society. This is of growing importance for the success of our business model.
Read more about Bayer’s commitment to its stakeholders in Chapter 6 “Sustainability.”