Last week I had a meeting with someone from the Agro- Food sector here in Beijing to talk about the possibilities of CSR as a clear incentive for innovation, personnel development and we discussed the possibilities it could give a boost for Joint Venture negotiations for that company. It was interesting to see what came up to be a kind of a twin effort for this company; the start of implementation of a Corporate Social Responsibility strategy and the need for social innovation in their company in China. Both were needed for the company to grow and expand in this Country. Social innovation here meant that the manager involved was very aware that the organization and the people in that organization had to be able to reinvent their way of thinking, and maybe they had to rearrange their management structure and culture to get things going ahead in China: Innovation was a key aspect for this company, and inherent for its survival, as a large Quantity of its budget was in Research and Development: for a responsible use of that much of your budget on R&D, innovation in the rest of the company is essential!
Something similar on the combination of business Growth, innovation and a sector that pays a lot of attention to R&D is the Chemical Sector. I came across a great report on the different top sectors in the Netherlands and the combination of Social Innovation and R&D budget. It’s free to download, here is the link; you can see the file is in Dutch -sorry about that, the graphics are very clear though:
Only the Energy sector is ahead of the Chemical Sector in social innovation, meaning here the ability to rearrange your business process to innovate, including the quantity and quality amount you spend on cooperating with external stakeholders- and here is where the Foreign Chemical Sector in China has some issues to think about, and I will be doing research on in the coming months:
- What are main (CSR and Sustainable, business) challenges that Foreign Chemical Companies face in China?
- What are the main opportunities Foreign Chemical companies can learn from CSR and sustainable best practices in their industry?
- What is the relation with between CSR practices, social innovation, sustainable investments and business performances for the Foreign Chemical Industry in China?
- What is the best CSR and sustainable strategy for foreign companies in the Chemical Industry that will create the best value for that industry and for China as a whole?
Interested in the research? Contact email@example.com