Strategy quality managment in SABIC Essay Example | Topics and Well Written Essays - 3500 words

Strategy quality managment in SABIC - Essay ExampleCustom Technology Solutions (CTS, 2006) describe strategic management as a compounding of strategy formulation and strategy implementation (P.5).Saudi Basic Industries Corporation (SABIC), Saudi Arabias largest corporation is a global leader in the correct of chemicals, fertilizers, plastics and steel. The Saudi government is the majority shareholder with a 60 percent stake with the balance of shares distributed among the Gulf Co-operation Council (GCC) countries of the Middle East. It has a major presence in Asia particularly the Asia-Pacific region, North America, Europe and Africa in addition to the Arabian Peninsula Figure 1 (Asia Pacific News, 2008).Established in 1976, SABIC has a broad range of assorted merchandise embrace basic and intermediate chemicals, polymer resins and polyesters, fertilizers, metals and industrial gases -primary building blocks for products. These are found in the conglomerates 21 manufacturing firms employing over 16,000 employees globally (Al-Abdulgader, 2007).The demand for petrochemical products has increased globally thus ensuring SABIC future growth prospects are bright being one of the largest producers in the world with a rich natural source in Saud Arabia (Jaroudi, 2007). SABIC petrochemical takings has subsequently quadrupled over the last fifteen years surpassing 45 million tonnes while aiming at raising the production to over 100 metric tonnes by 2015 (Thomasson, 2007). The companys expansion plans targets the emerging Asian growth economies of China and India. In China, the countrys enormous expansion and development has meant it is inefficient to meet its demand for polyolefin resins thus needing 34 percent imports, which puts the Chinese market on top of SABIC agenda. According to SABICs country manager for China, Lee break out Lee,