Decision Making At Dow Chemical
The Dow Chemical Company is a leading global science and technology company that creates, manufactures and markets an assortment of chemicals, plastics and agricultural products and services for customers in over 150 countries around the world. "The Company's 50,000 employees share this mission: To constantly improve what is essential to human progress by mastering science and technology ," according to Dow Chemical. Dow Chemical is, by far, the world's largest chemicals producer, with $28 billion in annual sales, generated by some 3,200 products and services. Dow's basic products enrich consumers' lives in markets ranging from "food, medicine, personal care and water purification to transportation, construction, publishing and electronics1". In nearly a decade, Dow has reshaped their corporate strategy around and focused on their inherent strengths, which is core chemicals & plastics-manufacturing operations, while at the same time reducing infrastructure debt through divestiture, expanding its market share through acquisition, and building new strategic alliances in the global market. The main catalyst behind this transformation was former CEO William Stavropoulos. In changing the strategy of the company, Stavropoulos focused Dow on four strategic themes. First, set standards for each of its core businesses. Secondly, increase productivity within the core businesses, "which led to our cutting $2.7 billion in cost ," according to Stavropoulos. Third, focus on company growth within the core businesses. Fourth, change the culture within the company in order to support the strategy. This paper will discuss Mr. Stavropoulos' decision-making style during this time of tra ...