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When Innovation meets Customer-Centricity everyone wins
Starting with the end in mind, partnering with our customers, and remaining laser focused on deploying the Dow innovation engine against real needs ensures that innovation leads to business success.
Start with the end in mind. A statement we’ve all heard and one that is particularly true when developing new products. Greater likelihood of success results when you begin a project with the result in mind. It also delivers real innovation, products that succeed and make a difference.
As highlighted in our recent FCLTGlobal case study, research confirms that long-term companies outperform on financial metrics, including revenues, profitability, and stock price, as well as non-financial ones like job creation and sustainability.
With more than a 120-year history of evolution and reinvention, innovation underlies everything Dow achieves. Dow’s innovation strategy remains focused on meeting customer needs.
We innovate to provide products that bring value to our customers in performance while simultaneously being more sustainable. These are not evolutionary, small changes. These meet customer needs, make good business sense and are recognized as innovative products. Higher performance creates value for our customers and creates a market premium.
Our portfolio of R&D projects, broad in scope and covering a range of time horizons, is actively managed to ensure we deliver value for our customers, returns for our shareholders and the sustainable solutions society demands. Time is an important variable. The portfolio is a mix of projects, from early stage aspirational efforts to products entering commercialization. Today’s long term projects naturally become tomorrow’s short term projects. Our scale and breadth gives us the ability to invest in transformational capabilities. Our investment in high-throughput tools and high-performance computing are two examples, developed capabilities that continue to reap benefits. These tools improve R&D effectiveness, delivering innovations faster than ever before. Computational tools, like deep search, deep learning, high-performance modeling and quantum computing, are being pursued, capabilities being investigated that show great promise to further improve our efforts. We cast a wide net, exploring nascent technologies and partnering to solve materials challenges.
Our customer-centric approach lets us effectively collaborate and connect with our partners – from formulators to brand owners, from academics to technology partners. These efforts continue to yield innovations that address some of society’s most pressing problems and are repeatedly recognized around the world. As just a few examples of that recognition:
- For eight straight years Dow products won R&D 100 awards, 44 winners over the last decade; more than any other company.
- Recognition for innovation from the Edison Awards, The ICIS Innovation Awards, Design News and the Business Intelligence Group.
- 10 Dow projects were just named as finalists for the 2020 Institution of Chemical Engineers (IChemE) awards.
- Recognized for sustainability innovations by the EPA Green Chemistry Challenge, IChemE and the Business Intelligence Group.
- Winner of three Ringier Technology Innovation Awards in 2020
Starting with the end in mind, partnering with our customers, and remaining laser focused on deploying the Dow innovation engine against real needs ensures that innovation leads to business success. Our focus on the end goal, our engagement with key entities in the value chain, drives rapid success at commercial scale. Innovative products get to market faster and find receptive customers.
Independent, third party recognition validates that our products are innovative. They are a testament to a mindset that fuels Dow’s R&D pipeline and to the world-class partners we are lucky to collaborate with every day. I am proud of Team Dow and thank our scientists and engineers for their creative efforts to deliver these innovative new products that bring value to Dow, to our customers and to society.
A.N. Sreeram, Senior Vice President of Research & Development and Chief Technology Officer