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Note 1: Managing our sustainability agenda

[...] work with the expertise team and the business teams to ensure effective roll-out of the new strategy. Businesses and functions Accountability for managing sustainability and delivering against targets lies with the businesses and functions. The Managing Director of each business is responsible for managing sustainability as an overall part of business. The key sustainability business KPIs and targets form a dashboard which is monitored at least every six months as part of the Operational Control Cycle. All businesses have also appointed a sustainability manager, or focal point, to support the embedding of sustainability throughout their operations. They bring [...]

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Processes and capabilities

[...] Capability Groups, which perform longer range and underpinning research in partnership with our businesses. Procurement There are four primary components of our Procurement process – strategic sourcing, key supplier management, purchase-to-pay and raw material price forecasting. Each of these elements is described in more detail below. Strategic sourcing Strategic sourcing forms the backbone of the commercial procurement process. It starts with the requirements defined by our businesses based on market demand and also incorporates supplier selection and negotiation, signing and implementing contracts and reviewing results. Key supplier management To support [...]

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Overview of risks

[...] pricing and emission trading rights Our Specialty Chemicals business operates two energy-intensive businesses, Pulp and Performance Chemicals and Industrial Chemicals. The latter conducts its business primarily in Europe. A non-level playing field for energy on a global level (e.g. shale gas, national policies, subsidies) and emission trading rights can affect the competitive position of these businesses and the competitive position of our customers. Mitigating actions Continue to analyze and review our competitive positions and proactively manage energy usage and costs Implement our Carbon Policy and work on energy efficiency programs Diversify our energy source [...]

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Strategic focus areas

[...] is an appropriate choice because customers do have alternative sources of supply in almost all of our businesses Further development and implementation of our commercial excellence programs will continue to be a major priority for AkzoNobel in 2015 and will be a fundamental factor in achieving higher organic growth levels in the future. Reduction of product and process complexity Standardization and simplification of our processes is vital to achieving our vision and targets, as it will lead to a faster, more agile organization and reduced costs and resource use. In addition to improving our product portfolios through product and margin management, and our [...]

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Strategy

[...] and we are doing this by pursuing differentiated growth strategies. In roughly half of our businesses, our strategy is to outgrow the market organically in attractive markets where we are best able to win. In other parts of our Performance Coatings portfolio – where our position is often strong but the headroom for growth more limited – we want to grow with the market while driving operational excellence and controlling costs. Examples are: In Protective Coatings, we have a leadership position based on strong technologies, brands and reputation. We will continue to invest in generating higher levels of growth. We will also expand our market presence in high [...]

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Strategy

[...] rigor and focus on opportunity funnel management and key account approaches is supporting the businesses with their organic growth plans Talent management. In 2014, we redesigned our organizational structure to create a flatter organization, which allows us to work more efficiently and reduce costs while we improve the levels of professionalism in our functions. Beyond reorganization, we make sure that our employee base has the right spread by increasing our presence in higher growth regions, improving diversity and building a pool of global leaders Reduce organizational complexity and cost In early 2015, we adjusted our organization in line with our five chemical [...]

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Supervisory Board

[...] Board is constituted in a balanced manner to reflect the nature and variety of the company’s businesses, their international spread and expertise in fields such as finance, economic, societal, environmental and legal aspects of business, government and public administration. Consequently, the current members have a diverse and appropriate mix of knowledge and experience of the markets in which AkzoNobel operates, as well as insights from different markets and non-operational areas. According to the Act on Management and Supervision, a supervisory board of a large Dutch public company has a balanced composition if it consists of at least 30 percent female and at [...]

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How we created value in 2014

[...] have a revenue impact in divestments but in price/mix The divestment of the Primary Amides and Purate businesses was completed in 2013, and accounts for the divestment impact in Specialty Chemicals Specialty Chemicals announced the intended sale of its Paper Chemicals portfolio for €153 million. The business is currently part of Pulp and Performance Chemicals. The transaction is expected to be completed in 2015, subject to regular consultation with employee representatives and satisfaction of closing conditions such as receipt of required regulatory clearances Operating income Operating income increased 3 percent to €987 million, due to higher operating results [...]

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Note 2: Scope of consolidation

[...] business is currently part of Pulp and Performance Chemicals and is accounted for as held for sale. Businesses that no longer qualify as held for sale have been reclassified to ongoing operations. No acquisition in 2014, individually nor in total, was deemed material in respect of IFRS 3 disclosure requirements. During 2013, we concluded the divestment of Building Adhesives in Decorative Paints and some smaller divestments, such as the Primary Amides and Purate businesses in Specialty Chemicals. Discontinued operations During 2013, the divestment of the North American Decorative Paints business was completed and resulted in €779 million net cash inflows and a [...]

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Integrity management

[...] Compliance Committee (in numbers) 24 24 9 11 Code of Conduct alleged breaches handled by the relevant businesses (in numbers) 221 271 142 159 Substantiated Code of Conduct breaches (within year) 149 163 57 67 Substantiated Code of Conduct breaches (total, including breaches substantiated in a later year) 149 178 64 – 1 Number of dismissals for Code of Conduct breaches within year 99 131 43 46 Dismissals for Code of Conduct breaches (total, including employees dismissed in a later year) 108 139 48 – 1 Compliance monitoring Competition Law Compliance Declaration (number of confirmations) 14,400 15,900 12,700 12,184 Non-financial letter of representation (% of [...]

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