Borouge received the Hamdan bin Mohammed Award for Innovation in Project Management under the category of 'Innovative Idea in Portfolio Management' due to its recognised creative approach in carrying out innovation, operations, marketing and sales projects across the organisation.
Held under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, the award granted to Borouge is a testimony of the company’s robust way of managing innovation projects portfolio that has largely contributed to its success.
"We are honoured and excited to have won the prestigious Hamdan bin Mohammed Award for Innovation in Project Management, which clearly reflects our continuous commitment to excellence and innovation in everything we do,” said Ahmed Omar Abdulla, CEO, Abu Dhabi Polymers Company (Borouge), who received the Award from HH Sheikh Hamdan during the award ceremony that was held in Dubai on 20 November 2017.
“This remarkable achievement of winning this important award is attributed to the support we continuously receive from our shareholders with whom we are always aligned,” added Abdulla.
“Innovation is paramount for Borouge's success in past, now and in the future. This award shows we are on the right track, and with the projected growth of Borouge, we are committed to further investing into our successful innovation capabilities," commented Abdulla.
The award has recognised Borouge’s structured innovation processes and portfolio management that has not only encouraged various departments of the company to contribute heavily to the existing projects, but also inspired Borouge’s people to propose new creative projects.
“The efforts put in evaluating every idea proposed from anyone across Borouge have earned greater respect and trust, helping the value and quality of the innovation portfolio to grow year by year,” remarked Abdulla.
Dr Thorsten Loehl, vice president, Innovation Centre, Borouge, assured that Borouge’s strong cross-functional innovation process that is fully embedded in every day's business allows efficient selection and execution of the right projects.
“With such a creative and integrated innovation portfolio management that Borouge has accomplished, more than 17% of our annual sales are generated by new products which were introduced into the market in the past five years,” said Dr Loehl.
Dr Loehl added that Borouge’s innovative approach in handling and managing projects enabled the company to deliver more than 25 new products in four years, contributing in enhancing sales margins and elevating Borouge’s brand reputation as an innovator in its key markets.
Dr Loehl said that Borouge’s innovation portfolio aims to create value and provide differentiated solutions at scale that contribute to improving customers’ cost effectiveness, enhancing production costs, ensuring consistent quality of solutions and increasing profitability. Its portfolio also helps ensure that Borouge delivers the right innovative solutions to keep itself ahead of the market in the focused applications with much focus on contribution to sustainability.
As Hamdan bin Mohammed Award for Innovation in Project Management encourages more companies to implement such approaches, Borouge’s innovation portfolio management can be easily transferred to other manufacturing companies worldwide.
In November 2016, Borouge has also won the highly-acclaimed Gold category of the Sheikh Khalifa Excellence Award (SKEA) in recognition of its outstanding performance and commitment to excellence throughout its operations.