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Speed Based Development for Customers

Speed Based Development for Customers. Kurt Swogger, R&D VP, Plastics Simon Lee, Project Leader, R&D Center China The Dow Chemical Company May 28 th , 2005. Business is a Balance. Plastics Expresses This Balance With This Strategy Statement Sell Out The Capacity

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Speed Based Development for Customers

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  1. Speed Based Development for Customers Kurt Swogger, R&D VP, Plastics Simon Lee, Project Leader, R&D Center China The Dow Chemical Company May 28th, 2005

  2. Business is a Balance • Plastics Expresses This Balance With This Strategy Statement Sell Out The Capacity Sell Up – Higher Value Applications Change – New Markets and Businesses To Make More Money

  3. PO&E “Portfolio” PO&E “Portfolio” *Trademark of The Dow Chemical Company 2 DuPont Dow Elastomers3Partnership with Exxon 4Acquisitions from UCC

  4. Awards Outstanding Corporate Innovator (OCI) Award • Presented by the Product Development & Management Association (PDMA) in October 2003 to the PO&E business at Dow • Provides global recognition for companies exemplifying the spirit of innovation and demonstrating sustained excellence in the development and profitable commercialization of new products and services

  5. What Are the Major Factors to Achieve These Results? • INSITE* technology • Speed-Based Development *Trademark of The Dow Chemical Company

  6. What Does Speed Require? • Leadership who understands, uses and continually improves the principles and their implementation • People using good judgment: who apply the principles of speed to best meet the needs of a specific project or situation • Flexibility: This is NOT a formal work process, but was founded on experiences of a small core of successful development people • Integration: many principles of this concept are not new, but the power of their integration and execution is a new concept • Dow Values: Dow’s values of safety, ethics, environmental responsibility are used • A Business Approach, not a functional approach • Accountability for Results

  7. What Does Speed Require? (Cont’d) • New Concepts: Some principles, however, are relatively new to our industry – such as: • Selecting the right people with the right aptitude • Using parallel processes • Linkage of business strategy to individual goals • Using science to develop model-based data storage and use • Flexible allocation of resources

  8. Theme #1: Right Leadership Right Leadership Right People Principles • Leadership must lead • Create and sell a vision that delivers Right Execution Right Projects Right Information

  9. Theme #2: The Right People Right People Right Leadership Principles • Choose the right people for development • Use scientist / manager partnership to lead development • Use flexible allocation of resources Right Execution Right Projects Right Information

  10. Theme #3: Do The Right Projects RightProjects Right Leadership Right People Principles • Link business strategy to individual results • Involve marketing early • Use Net Present Value (NPV) to help select projects • Use marketing to position the product Right Execution Right Information

  11. Theme #4: Find The Right Information Right Information Right Leadership Right People Principles • Use science • Involve customers early • Use outside experts, consultants or info • Continue to learn • Use performance requirements for application development • Use intellectual capital • Use prior experience to avoid mistakes Right Execution Right Projects

  12. Theme #5: Right Execution-Achieving Results Right Execution Right Leadership Right People Principles • Use Six Sigma methodology • Make and deliver commitments • Emphasize decision making • Use a parallel process Right Projects Right Information

  13. Summary - Speed Based Development • Philosophy is useful for both existing and new businesses • Philosophy is useful for product, developments, process and applications • It’s all about getting the right results

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