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WHAT IS ENTREPRENEURSHIP? Good Question and INEOS Thinks It Might Just Have Found the Answer

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WHAT IS ENTREPRENEURSHIP? Good Question and INEOS Thinks It Might Just Have Found the Answer ISSUE 6. 2014 WHAT IS ENTREPRENEURSHIP? Good question and INEOS thinks it might just have found the answer CHANGING THE FACE OF SOCIETY Entrepreneurs who have changed the way we think and feel THE INEOS DIFFERENCE And why we are proud of it COLDER AND BOLDER Scientists’ cool discovery opens the door to a whole new world of adventures for polar explorers www.inchnews.com 02 The F-22 Raptor jet fighter FACTS cockpit is made from a piece of high optical quality + polycarbonate, which is produced by using both FIGURES phenol and acetone The INEOS Enterprises brine cavities are so old, the Cheshire salt layer dates to when dinosaurs walked the land 250 million years ago 30 PAIRS INEOS Nitriles supplies enough The INEOS Enterprises brine 50,000 acrylonitrile each year to provide cavities are so large, they can every physician in the USA with house ST PAUL’S CATHEDRAL Each year INEOS ChlorVinyls sells more than 30 pairs of surgical enough PVC to produce PVC gloves every day floor coverings for 50,000 football pitches 3.4 MILLION car fuel tanks are produced 3 BILLION from our polymer, thanks to a syringes deliver life-saving drugs, combination of its strength, light produced from our super-clean medical weight and mouldability. This PVC shrink wraps help to grade polymers every year light-weighting of cars makes them protect food. The PVC we more fuel efficient, helping to save make for shrink wrap films 140,000 tons of CO emissions/a each year is enough to cover 2 France 5 times 450,000 COWS INEOS ChlorVinyls makes INEOS Olefins & Polymers medical tubes that Europe every day manufactures would go to the enough polymer (HDPE) to INEOS Nitriles makes enough package 10% of Europe’s milk acrylonitrile to produce one MOON AND BACK production; the daily lactation acrylic blanket for every baby again each year of over 450,000 cows born on the planet, every year 03 INTRODUCTION COMPLACENCY and stifling bureaucracy can kill And they have the tools to succeed. a business. It’s inspiring stuff. Pointless committees, rules and regulations – far from keeping everything running smoothly – can often have the This edition is all about entrepreneurship. The difficulty has opposite effect. been where to start in a company such as INEOS where there is evidence of entrepreneurship hard at work in almost SCAN HERE People lose heart. Work becomes a chore and there’s all its businesses and sites. TO VISIT no accountability. INCHNEWS.COM This edition tries to do justice to at least some of it. It can happen to the best of companies as they age and grow. Things change. That entrepreneurial spirit – the one Outside of work, INCH takes a look at the INEOS Go Run thing that kept them focused in the very early days – gets For Fun campaign, which – if it all goes to plan – will one lost in the passage of time. day become the biggest kids’ running initiative in the world with over 100,000 children involved. INEOS, which was founded in 1998, is acutely aware of that and it is why, as a company, it works hard to retain that We also take a look too at the coldest place on Earth. entrepreneurial spirit – 16 years on. A bone-chilling – 93.2 °C spot which was discovered by scientists as they analysed data from satellites that have That entrepreneurial spirit is as fundamental to INEOS as been orbiting the planet for 32 years. the chemicals it makes. Life is all about pushing boundaries and finding new It is also a selling point, as INCH discovered when it went and creative ways to achieve challenging goals. knocking on employees’ doors to find out how they felt about working for INEOS. Some of which we have tried to reflect in this sixth edition of INCH. They love the freedom to use their knowledge and creativity. They feel motivated and empowered to seek out innovative JIM RATCLIFFE solutions, spot opportunities and make things happen. 04 16 19 24 INCH ONLINE: Due to the popularity of INCH it is now available to everyone, inside and outside INEOS. To make access easier you can view the magazine and the embedded CONTENTS videos online, on your phone, on your iPad or on your desktop. Facts and figures 02 WHAT IS THIS? What is entrepreneurship? 04 It is a Quick Response or QR code. You can scan these with The INEOS difference 08 smartphones to view video or online PRODUCTION content. To use them, download a QR reader from your BlackBerry or iPhone Editor: Richard Longden, INEOS Entrepreneurial spirit 10 App store. Then simply scan the code Articles by: Sue Briggs-Harris to launch the content. A spirited workforce 12 Design: Strattons (strattons.com) Changing the face of society 14 INCH APP Publisher: INEOS AG We have also put INCH onto Colder and bolder 16 the Apple Newsstand so that Editorial address: INCH, INEOS AG, you can access content with your iPad. Avenue des Uttins 3, 1180 Rolle, Switzerland Is entrepreneurship contagious? 18 Email: [email protected] FACEBOOK Little feet make big strides 19 ‘Like’ us to receive regular updates and Photography: INEOS AG© to view articles from the publication. INEOS sends open letter to EU 20 www.facebook.com/INEOS Download: You can subscribe to INCH magazine and download digital versions by visiting www.inchnews.com Experts explore options 22 TRADITIONAL BROWSER INEOS accepts no responsibility for the INEOS refines its goals 24 And for those of you that prefer opinions or information contained in this more traditional technology you can publication. While the information in this Safely on track 26 view INCH online, in all languages, publication is intended to be accurate, using your internet browser at no representation of accuracy or www.inchnews.com. completeness is made. Business profile: Baleycourt, France 28 © INEOS AG 2014 In the Headlines 30 04 WHAT IS ENTREPRENEURSHIP? IT’S A GOOD QUESTION AND INEOS THINKS IT HAS FOUND THE ANSWER It’s a question academics have been asking themselves for years. But, as yet, no one has really agreed on a definitive answer. But it’s an important one because true entrepreneurs are, according to The Economist, those who find worth in the worthless and possibility in the impossible. INEOS is a company which prides itself on being entrepreneurial, but what does that really mean? 05 ENTREPRENEURSHIP runs through the heart of “On that very first day at Inspec we were differently, to think about solutions not INEOS. asked whether we could produce more problems, thinking ‘outside the box’, setting glycol,” said Hans. “We had an idea which an example through their behaviour.” With it comes passion, determination, innovation, had been hanging around for years but a vision and a desire to act swiftly. BP had never implemented it and had no He believes entrepreneurial employees exist in interest in the site. Jim told us to just go and every company but often their potential is crushed In today’s world, when companies must be able to do it, but make sure it was done quickly. It by rules and bureaucracy. move quickly to be the first to take advantage of was a completely different view of running opportunities, those qualities matter more the business. He had a vision and ideas. He That’s something you won’t find at INEOS. than ever. didn’t want to stand still. He wanted to make it better and was prepared to consider the “We don’t have a big head office of people “Entrepreneurship, at least within INEOS, risk and to move the business forwards. That who manage from a distance,” said Calum. can be summed up in four words: speed, is the spirit which came into the company “The armies of people or committees that risk, drive and fun,” said Bill Reid, business from day one. Building on the site’s ideas you would find in other big head offices just director for INEOS O&P Europe (North). “Speed allowed us to produce 22 kt more glycol very don’t exist in INEOS.” of response to the opportunity, a willingness quickly. It was just the start. The Antwerp ENTREPRENEURSHIP? to take risks, a strong drive to continuously site, which had been on the way to closure Jim Ratcliffe, who last year became the first Briton push the company forward, but also to have under BP, is now three times as big as it was to win the Petrochemical Heritage Award for his fun in an environment where INEOS Capital back then, and it is flourishing.” visionary approach to the global petrochemical entrusts us with a great deal of responsibility industry, believes bureaucracy is the biggest at a very early stage.” Calum Maclean, CEO of INEOS O&P Europe (UK), passion killer of all. says that entrepreneurial spirit has always been Hans Casier, CEO of INEOS Oxide, said INEOS with INEOS and believes nurture is more important “It suffocates businesses,” he said. Chairman Jim Ratcliffe laid the foundations for an than nature in harnessing people’s talents. entrepreneurial mindset to flourish when he co- Instead Jim’s own entrepreneurial approach to founded Inspec, a high-margin speciality chemicals “I think true entrepreneurs are born not running a business has helped to foster a culture business which owned a former BP petrochemical made,” he said. “But they can develop an where innovative solutions are sought every day. plant in Antwerp. It is that plant in Belgium which entrepreneurial spirit by encouraging people Jim bought and renamed INEOS in 1998. around them to approach business 06 In short, INEOS is a team of doers, not dreamers.
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