Many chemical enterprises have implemented pilot programs as a way of taking the first steps toward digital transformation. But the conversations we have with boards and CEOs, combined with our own observations in the field, suggest that pilot programs rarely lead to transformation in the chemical industry.
In 2016, nearly 200 transactions, with a value of more than $90 billion, took place in the chemical industry, and 2017 may well surpass that pace. But what are the implications of having these transactions play such a large role in reshaping the industry?
Recently, I outlined the current talent crisis in the chemical industry, in which pipeline and succession challenges have hit just as the industry undergoes its most dramatic set of changes in a generation. There is no single path out of this dilemma, but the first step is to parse the ways in which the industry has become more complex.
It should not be controversial to say that all organizations must be capable of some degree of innovation.
Every chief executive and board member in the chemical industry is facing the same chronic talent shortage, unable to find enough rising stars at the director and VP level to fill the succession plans for soon-to-retire GMs, country managers and CEOs.
Egon Zehnder recently organized a roundtable discussion (on May 27, 2013) in Mumbai with some of the senior professionals in the Chemical Industry in India to discuss the challenges in building a leadership pipeline in the industry.
Can outstanding, professional people decisions help companies in the chemical industry rise to the challenges that lie ahead and add real value? What are these industry challenges and what exactly does “Talent Management” mean?