Current Business Position of the Saudi Basic Industries Corporation Group - Case Study Example

The paper "Current Business Position of the Saudi Basic Industries Corporation Group" is a perfect example of a case study on business. Saudi Basic Industries Corporation is one of the largest public limited companies in Saudi Arabia. Over the years, the company has operated its business functions in the chemicals industry. The company is globally recognized as the SABIC group. The SABIC group offers its exclusive services across the different geographical locations of the world and the company is one of the major contributors to the global economy. During the last 40 years, the company has manufactured industrial polymers, fertilizers, and metals for satisfying the needs and demand of the customers. The company has maintained its relationship with its suppliers with the aim of producing the best quality services. At the same time, the SABIC group has also concentrated on governance and controlling processes to enhance customer support. In addition, the company has also focused on its cost-controlling approach and working capital management with the intention of enhancing business opportunities (Saudi Basic Industries Corporation1, 2014).      

Subsequently, during the 1990s, the effect of globalization has been observed in the worldwide marketplace. As an effect, globalization has influenced the growth of the SABIC group and the expansion of innovative plastics. Thus, the company has emphasized risk and cost analysis for enhancing the effectiveness of the business process. Apart from this, the company has also concentrated on establishing relationships with people to suppliers with the intention of enhancing the competitive advantage in the global market. According to the report of Vogel Business Media (2014), the SABIC group is the worlds’ ranked fourth chemical company, which is operating its business functions with around 40,000 employees (Vogel Business Media, 2014).

Over the years, the company has operated its business operations approximately in around 40 countries and the company has operated 60 manufacturing units around the worldwide market such as in the Middle East, Asia, Europe, and the American mainland (Saudi Basic Industries Corporation, 2014).