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

SABIC - Essay ExampleProduction has steadily grown from a modest 35metric tones in 2001 to 68.5 million metric tons in 2013, painting the vista of a company on the path to global dominance.With a vision to be the most respected market leader in chemicals and a billing 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 reasoning 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 companys 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 companys total output 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 tinge of the companys 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 commendation 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 SABICs 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 number (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, display massive