Strategic focus areas
- Industry orientation
- Technological and operational excellence
We have defined strategic focus areas within our company, and are concentrating on industry orientation, innovation, employees, sustainability, technology and operational excellence in order to achieve our goals. To maximize our potential, we combine our strengths and act as one company to even better use the full range of competencies that make us unique in our industry. We will tap new growth markets by bringing our research and development expertise, operational excellence, market knowledge and customer relationships even more closely together. This is how we promote the long-term success of both BASF and our customers with our products and solutions. Our employees are fundamental to achieving the goals of our “We create chemistry” strategy.
The BASF brand
- Trust in the BASF brand
- New claim in BASF logo: “We create chemistry”
We rely on a strong brand in order to expand our position as the world’s leading chemical company. Our brand is derived from our strategy and our corporate purpose – “We create chemistry for a sustainable future” – as well as our strategic principles and values.
“Connected” describes the essence of the BASF brand. Connectivity is one of BASF’s great strengths. Our Verbund concept – in production, technologies and knowledge as well as employees, customers and partners – enables innovative solutions for a sustainable future. As of January 1, 2015, we changed our claim in the BASF logo from “The Chemical Company” to “We create chemistry” in order to more firmly embed our solution-oriented strategy in the public consciousness. Our brand creates value by helping communicate its usefulness for our stakeholders as well as our values.
Anywhere our stakeholders encounter our brand, we aim to convince them that BASF stands for connectivity, intelligent solutions, value-adding partnerships, an attractive working environment and sustainability. This contributes to our customers’ confidence in their buying decisions and to our company value.
We are constantly developing our brand image by measuring awareness of and trust in our brand, and therefore in our company. A global market research study conducted in 2014 showed that, in terms of awareness and trust, BASF is above the industry average in numerous countries. The study collected data on respondents’ aided awareness of BASF and our most important competitors. Our goal is to continue increasing this value in all markets relevant to BASF.
Innovations for a sustainable future
Innovations in chemistry are necessary to meet the needs of the growing world population on a long-term basis. The development of innovative products and solutions is, therefore, of vital signiﬁcance for BASF. In 2020, we aim to generate around €30 billion of our sales and €7 billion of our EBITDA with the help of innovative products that will have been on the market for less than ten years. This means effective and efficient research is becoming increasingly important. In addition to our R&D activities in established business areas, we have deﬁned technology and growth ﬁelds with which we can make a decisive contribution to innovative solutions for global challenges and contribute to sustainable development. The growth fields address new business areas for BASF.
We are continuing to strengthen our research and development activities in Asia as well as in North and South America. As of January 1, 2015, we are pooling our worldwide research expertise into three platforms, each headquartered in one of the regions particularly significant for us: Europe, Asia Pacific and North America: Process Research & Chemical Engineering (Ludwigshafen, Germany), Advanced Materials & Systems Research (Shanghai, China) and Bioscience Research (Research Triangle Park, North Carolina). By 2020, we aim to conduct half of our research and development activities outside of Europe. Our stronger global presence opens up new opportunities to participate in regional developments in innovation and gain access to local talent.