SABIC Essay Example | Topics and Well Written Essays - 1250 words

SABIC - Essay Example Production has steadily grown from a modest 35metric tones in 2001 to 68.5 million metric tons in 2013, painting the picture of a company on the path to global dominance. With a vision to be the most respected market leader in chemicals and a mission to responsibly offer quality products with the help of innovation and seamless operational procedures, SABIC is without doubt, headed to the apex in the global petrochemical industry. Presently, the company has a lean product line of; ethylene glycol, methanol, polythene and engineering plastics (sabic.com). With such a product line, the following four key factors have immense influence on the company’s overall well-being and these are; environmental, economic, technological and innovation issues. The largest strategic business unit at this company is chemicals, which accounts for 60% of the company’s total production and revenue. For this reason, it will by my area of focus. To continue this steady growth path, there must be sustained innovation to optimize operational processes and reduce the impact of the company’s operations to the environment. Presently, SABIC has technology and innovation centers in half a dozen countries from its homeland in Saudi Arabia, to Europe, China and India, just to mention a few. The huge investment in state of the art technology has enabled the company to develop more than 150 products annually, the main reason behind SABIC’s 8000 global patents. It is important to report that the journey towards sustainable operations in the chemicals division has been dotted with important milestones and in 2008, the Safety, Health and Environmental Performance Index (SHEPI) of the company and its affiliates was 0.74, a figure below the ceiling for that year (sabic.com). The company in its massive operations recorded a marginal two injuries, showing massive