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They Usually Don’t Invest Heavily In IT
But Dow does. Its CEO Tells Us Why
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In 1996 the Dow Chemical Company, which at $US46 billion in annual revenue sits comfortably in the top half of the Fortune 100, set a series of ambitious environmental, health and safety goals — ranging from decreasing leaks and emissions to improving overall safety performance — that it hoped to attain by 2005.
Dow claims that it reached slightly more than half its goals, and it credits a transformation brought about in large part through IT. Over that time, Dow spent about $US700 million on IT per year, leading to a $US2.3 billion increase in productivity.
Recently Dow CEO Andrew Liveris set a new round of goals, which he hopes the company can reach by 2015. The goals include reducing the company’s energy consumption by 25 percent and achieving at least three breakthroughs in the areas of clean water, food and housing. Once again, Dow is depending on IT to lead the way.