Making sense of the change that is upon us

Chemical companies are changing rapidly in response to powerful external forces, market and business shifts that were under way prior to the coronavirus pandemic and were accelerated even further as a result. Chemical businesses are working differently – not just by embracing remote work, but also by utilizing the capabilities that big data, on the one hand, and digital, on the other, are offering. Now more than ever before the abundant availability of data presents an opportunity for industry players to make better decisions and navigate the uncertainty ahead.

One of the many consequences of digital is that chemical companies can create strategy more easily, more often and with more precision. Above all of this, it is not just companies that are changing. So too are the societies in which they operate. As this occurs, demand for chemicals increases in some places and decreases in others, changing the entire chemical landscape.

‘Making sense of the change that is upon us’ is a new series organized in partnership with management consultancy, McKinsey & Company, as part of GPCA’s Leaders Dialogue, an initiative dedicated to members only. Organized in an intimate setting for c-suite executives at GPCA member firms, the series will address the changes impacting chemical companies today and in the future in the course of four key sessions:

  • 13 July – New ways of working – what has actually changed?
  • 8 September – A different approach to strategy – where next?
  • 6 October – Digital in petrochemicals – where to start?
  • 3 November – The prospects for chemicals – supply, demand and the stockmarket

Attendance at each session is by invitation only aimed at facilitating a structured conversation in which everyone participates. We look forward to welcoming you to this exciting new series.

For more information, contact Diala Al Sharief, Membership Specialist at GPCA: [email protected]

Session 1: New ways of working

13 July 2021 | 12:00 – 13:00 PM UAE time

Sometimes change comes slowly. Sometimes it comes very fast. The coronavirus pandemic and the obligation of social distancing have virtually transformed our work practices in less than a year. They have also changed the way we think about the many facets of the operating model: governance, processes and the lines and boxes of organization design. In this session McKinsey & Company will consider ‘New ways of working’ and the implications for chemical businesses, drawing from examples both inside and outside of the petrochemical industry. This session is part of GPCA’s Leaders Dialogue “Making sense of the change that is upon us” and is dedicated to members-only.

Speakers

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Richard Verity

Partner

McKinsey’s Riyadh Office

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Mathew Jacob

Head of Organization Development

Novartis

Session 2: A different approach to strategy

8 September 2021 | 12:00 – 13:00 PM UAE time

Strategy is a vast subject. It encompasses everything, including the decisions a company takes to differentiate its products, invest its capital, manage its costs or even develop its culture. But though people debate the definition, no one doubts its importance. Strategy results in a set of forward-looking decisions that are hard to reverse. Companies succeed or fail according to the quality and the execution of their strategies.

In this session Ruchin Jain, Associate Partner, McKinsey & Company, will discuss the theory of strategy. He will be joined by Zekeriyya Gemici, Executive Vice President for Strategy & Growth, TASNEE. Zekeriyya will contribute a perspective on the real-world practice of strategy. The conversation will then follow a course guided by the audience.

Speakers

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Ruchin Jain

Associate Partner

McKinsey & Company

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Rachid Majiti

Senior Partner

McKinsey & Company

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Zekeriyya Gemici

Executive Vice President for Strategy & Growth

TASNEE

Session 3: Digital in petrochemicals – Where to start?

6 October 2021 | 12:00 – 13:00 PM UAE time

The recent introduction of digital and analytics into the chemicals industry has proven its impact in many early adopters. However, there are also some examples of failure; sometimes in the form of a low impact on the bottom line, sometimes in the form of some early successes which are then not scaled or sustained. In this session, participants will discuss specific examples of how digital delivers value in chemicals, and how to design and implement successful digital transformation in chemicals. They will then draw on their experience to lay out key success factors and pitfalls.

Speakers

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Vinay Chandran

Partner

McKinsey & Company, Dubai Office

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Burak Ozdamar

Associate Partner

McKinsey & Company

Abu Dhabi office

Mater Al Dhafeeri

Mater Al-Dhafeeri

VP, Commercial

Sipchem

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Dr. Ravi Tahilramani

VP – Vertical Management Petrochemicals, Oil & Gas,

Siemens

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If you would like to learn more about the GPCA Leaders Dialogue and find out how to get involved, please contact [email protected].