Shift quickly to navigate the global market

The chemicals industry is going through a tremendous period of change. As outlined in the recently published "2015 Chemicals Trends" from Strategy&, a member of the PwC network, chemicals companies should focus their strategic thinking on three areas: 1. refining their business models...

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Bibliographic Details
Published inICIS Chemical Business Vol. 287; no. 9; p. 28
Main Authors Gotpagar, Jayant, Morawietz, Marcus, Ratta, Varun, Sarathay, Vijay
Format Trade Publication Article
LanguageEnglish
Published New York Reed Business Information UK 02.03.2015
Subjects
Business models
Chemical industry
International markets
Opportunity
Organizational change
Strategic planning
Technology adoption
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Summary:The chemicals industry is going through a tremendous period of change. As outlined in the recently published "2015 Chemicals Trends" from Strategy&, a member of the PwC network, chemicals companies should focus their strategic thinking on three areas: 1. refining their business models and manufacturing footprints; 2. identifying growth opportunities in emerging markets -- which, especially for Western companies, will require a new mindset; and 3. harnessing the potential of digital technologies to capitalise on the next wave of value creation. In their experience, significant value can be unlocked by applying differentiated and more suitable business models to align with market needs. By investing in organic capabilities tailored to developing markets' varied characteristics, global chemicals companies can better position themselves against their peers. Also, integrating and centralising enterprise-wide data, for instance, can enable companies to apply predictive analytics to streamline supply chains, and can also boost the speed, responsiveness, and profitability of R&D programs.
ISSN:1937-5786
1750-1512