The chemical industry drives innovation also in times of crisis: BASF as an example

Abstract

Scientific, technological and institutional innovations drive organic growth and thus are core elements of the strategy pursued by most companies. The chemical industry, as a supplier of innovative materials, drives innovation for many sectors of industry. The goal of a research oriented chemical company is to generate product and process innovations, something which often takes several years. Key elements of innovative activity are therefore continuity and long-term commitment - especially in times of crisis. © 2010 Springer-Verlag Berlin Heidelberg.