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Value Creation: Strategies for the Chemical Industry, 2nd Edition

ISBN: 978-3-527-31266-5
502 pages
January 2006
Value Creation: Strategies for the Chemical Industry, 2nd Edition (3527312668) cover image
Written by a global team of top managers and senior McKinsey experts, this expanded and completely revised second edition provides a wide-ranging manual on the subject of value creation in the chemical industry.
Drawing on extensive first-hand management experience, several hundred consulting engagements, and in-depth research projects, the authors outline the key ingredients for managing chemical companies successfully. The book addresses in detail key issues of strategy and industry structure, describes best practice in the core functions of the chemical business system, looks at the state of the art in organization and post-merger management, and covers a selection of the most important current topics such as industrial biotechnology, the role of private equity, and the chemical landscape in China.
Although mainly directed at executives and managers in the chemical industry, the knowledge contained in this comprehensive overview will also benefit scientists, engineers, investors, students, and anyone else dealing with management issues in this sector.
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Today's Chemical Industry: Which Way is up?
Shareholder Value Orientation: Not a Question of Whether, but How
Structural Drivers of Value Creation in the Chemical Industry
Chemicals -
Driving Innovation in Other Industries
Today's Challenges and Strategic Choices
An Approach to Determining the Long-term Attractiveness of Commodity Chemical Businesses
Middle East: Opportunities and Challenges from the Rapid Emergence of a Global Petrochemical Hub
Survival when it's Hard to be Special: A Perspective on Specialty Chemicals
Creating the World's Leading Specialty Chemical Company
Prospects for the Agribusiness: An Essential Contribution to Global Food Demand
Industrial Gases -
Growth by Continued Self-renewal
Perspectives of Chemical Distributors as Partners of Industry
Systematically Revitalizing Innovation in the Chemical Industry
Innovation of Growth
The Four Pillars of Sustainable Purchasing Transformations
Feedstock Price Volatility and How to Deal with it
Taking a Leap in Purchasing
Operational Excellence -
A Never-ending Journey Continues
State-of-the Art Production Concepts in the Chemical Industry
The Role of Site Services and Infrastructure for Productivity Management
Creating a Revenue Advantage Through Sales and Marketing Excellence
Achieving Top Performance in Supply Chain Management
Right Second Time -
Unlocking Value with IT
Managing Organizational Performance
Post-merger Management: It's all in the Design
M&A - the UCB Case
The Chemical Industry and Public Perception
Industrial Biotech: From Promise to Profit
Industrial Biotech at DSM: From Concept to Customer
Leveraged Buyout Transactions in Chemicals -
Challenges and Learnings
What Attracts Private Equity Firms to the Chemical Industry?
Facing China
China -
Key for Success in Asia
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Florian Budde is a Director in the Frankfurt office of McKinsey & Company, Inc. He co-leads the firm's European Chemicals Practice and has served a large number of chemical clients on strategic, organizational, and operational issues, with an emphasis on capital market-oriented corporate strategy. Earlier in his career, he was based in McKinsey's Seoul Office for two years. He holds a PhD in physical chemistry.

Utz-Hellmuth Felcht is Chairman of the Board of Management of Degussa AG and a member of the Board of Management of RAG Aktiengesellschaft, as well as holding a number of other Supervisory Board positions. He also serves as Vice President of the German Chemical Industry Association (VCI) and as a member of the Board of the German Association for Chemical Technology and Biotechnology (DECHEMA e. V.). He has a PhD in chemistry and is an honorary Professor of the University of Munich.

Heiner Frankemölle is a Director of McKinsey & Company, Inc. based in the Cologne office. He leads the firm's Global Chemicals Practice. The main areas of emphasis in his client work are corporate transformation, strategy, M&A, and post-merger management, as well as total operational performance and continuous improvement. He holds a PhD in agricultural economics.
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"This reviewer would have been very glad to have had a book such as this, about value creation in the chemical industry, at the start of his industrial career! In this book, which contains 33 chapters written by over 50 authors, the three editors have succeeded in putting together a work on this complex subject that is very readable and easy to understand, even for nonchemists. Of the 54 authors, 35 are from the McKinsey consultancy organization, while 19 are experienced business leaders from the chemical industry. The book can be strongly recommended for everyone who is working in this or a related area, or intends to do so...This is an excellent book, both in its standard of production and especially in its content, and I hope that it will reach a wide readership so long as it remains up-to-date."
Angewandte Chemie


"This comprehensive collection of data and ways of thinking of people, who as non-chemists have an ever increasing influence on the way the chemical industry is managed, is of considerable influence to those, who should provide the basis for the innovations to come, the scientists. Only if members of the two worlds talk to and understand each other, the chemical industry can continue to prosper. It is hoped that this well-conceived book will play its role at this important interface."
Macromolecular Chemistry and Physics
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