Dow's Essential Elements
Taken together, Dow's essential elements of mission, vision, values, and strategy describe why the company exists, who we are, what we intend to do, and how we intend to do it. These essential elements provide insight, offer motivation, and point the way forward as we seek to grow and achieve our goals.
Mission - Why We're Here
To constantly improve what is essential to human progress by mastering science and technology.
Dow's mission represents our greater purpose in society.
Constantly improve … This concept is and has been the bedrock of Dow's culture since H.H. Dow first said, "If you can't do it better, why do it?" It underscores our drive to continually seek the best in everything we do, and an unwillingness to settle for anything less.
Essential to Human Progress … The products we make find their way into products that provide people the world over with improved lifestyles. All of us at Dow understand and take pride in this contribution. We also use this concept to connect Dow with the external markets we serve. When we think in terms of the markets we serve, we become more outside-in focused and we seek growth opportunities.
Mastering Science and Technology … We put our science and technology to work to create solutions for our customers and for society.
Vision - What We Seek to Become
To be the largest, most profitable, most respected chemical company in the world.
Dow's vision describes our aspiration for the future.
To be the largest means we have the scale and scope to do things others cannot. Our size allows us to operate more efficiently, and leverage resources and technologies across the globe. It also gives us the global infrastructure to operate in regions that are not accessible to smaller companies, as well as stronger relationships with customers and suppliers. The company's size gives us competitive advantage.
Most profitable begins with offering great shareholder value. Beyond that, for Dow, profitability is achieved by operational intelligence. It means we work safely, grow wisely, maintain our margins through business cycles, and through it all, offer quality products and services to our customers that others cannot.
Most respected means our stakeholders see our industry leadership through our focus on economic success, innovation, and environmental, health and safety performance. As the most respected chemical company in the world, our actions will be driven by our values of Integrity and Respect for People. Our commitment to sustainability, transparency and ethical behavior will be clear, as will our long-term commitment to the interests of all of our stakeholders.
Values - Who We Are
Integrity and Respect for People
Our mission and vision will be achieved by living according to values that speak to the economic, social, and environmental responsibilities of business and society.
Integrity - We believe our promise is our most vital product - our word is our bond. The relationships that are critical to our success depend entirely on maintaining the highest ethical and moral standards around the world. As a vital measure of integrity, we will ensure the health and safety of our communities, and protect the environment in all we do.
Respect for People - We believe in the inherent worth of all people.
We, the employees of Dow, are the engine of value creation; our imagination, determination, and dedication are essential to growth. We will work to celebrate and reward the unique backgrounds, viewpoints, skills, and talents of everyone at Dow. Respect for people is measured by how we treat each other, by the contributions that flow from our diversity, by the productivity of our relationships, and by a job well done, no matter what the job.
Our communities are our neighbors; their acceptance of us is vital to our ability to operate.
Our customers are our partners in creating value; their loyalty is our greatest reward.
Our shareholders are the beneficiaries of our success; their on-going commitment to us is based on returning to them superior profits over time.
Our respect for people also includes the consumers whose lives we touch. We will strive to answer people's most vital needs: for food, water, shelter, transportation, communication, health and medicine.
Corporate Strategy - What We Intend to Do
Strengthen our franchise basics businesses and preferentially invest in our performance businesses.
Strategic Themes - How We Will Make It Happen
Strategy is critical, and Dow looks at the important work of effective strategy implementation in terms of four broad themes:
Drive financial discipline and low cost to serve means we will maintain control of our financial destiny at all times, assuring a streamlined company that operates efficiently and cost-effectively.
Setting new standards in sustainability includes not only workplace safety and environmental stewardship, but excellence in corporate governance and corporate responsibility, and maintaining the highest ethical standards.
Building a people-centric performance culture calls for attracting and retaining the most talented people from throughout the world, developing them, and rewarding them for the results they achieve. This will drive both personal and company success.
Invest for strategic growth is an intense focus on growth to effectively manage our businesses, consistently deliver innovation and continuously grow with our customers. We will focus on portfolio management, technology leadership, strategic customers and markets, and emerging geographies.
