Strengths and Strategies
GC actively strengthens its business competitiveness by enhancing resilience and creating an advantage over competitors to create a foundation for future growth. Here are the key strategies; (1) maintaining operational excellence in terms of production safety and stability continuously, (2) elevating the competitiveness of upstream petrochemical businesses,(3) expanding the home base and strategic markets, and (4) Implementing market-focused business strategies, placing emphasis on High Value Products (HVP).02
GC is seeking to invest in High Value Businesses (HVB) with a focus on growth products with superior profitability which will meet consumer needs according to megatrends. The Company is seeking for the Merger and Acquisition (M&A) opportunities, which would enable GC to rapidly growth, particularly into performance chemical businesses. GC also seeks new business opportunities by utilizing Corporate Venture Capital (CVC) to enter new businesses with outstanding technologies and innovations, which can be used to further strengthen and expand current businesses. The Company is also seeking to build new production bases overseas to gain competitive feedstock advantages and market growth.03
GC elevates its sustainability operation for business connectivity in response to industrial trends as well as strikes a sustainability balance in three aspects: economic, social, and environment, to become a model of sustainability operation at the international level. The key activities are as follows; climate and water leader, circular economy enhancement, and corporate social responsibility (CSR) transformation to social enterprise model.
To ensure that GC can adapt to volatile business conditions and drive growth according to the defined plans, GC will improve and lean its operations to improve efficiency, agility, and adaptability. Therefore, GC has initiated a people development plan for existing employees to enhance the knowledges, capabilities, and skills that are compatible with the corporate strategy. GC is also implementing lean and process improvement through the FiT Project, which focuses on end-to-end process adjustment and digitization to reduce costs, improve operational efficiency, enhance system effectiveness, boost agility, and decrease risks. GC also strives to create a corporate culture that improves preparedness for change, as well as strengthens supporting units and lays down the foundation for effective Governance, Risk management and internal control, and Compliance (GRC), to ensure compliance with laws, rules, and regulations and assure transparency and accountability to its stakeholders.