1.2 Strategy and analysis

Performance 2008
In The Novozymes Report 2008, the Outlook section lists sustainability targets and outlines strategy, which is also covered by the Letter from the Board of Directors. Both also reflect on trends, opportunities, and challenges.

Novozymes’ key impacts and performance in 2008 is depicted by data, which are discussed together with broader external trends throughout the Report and Outlook sections. The report as well as Novozymes’ Communication on progress vis-à-vis the UN Global Compact provides key conclusions about progress.

Stakeholder engagement, issues, and prioritization
Novozymes has no one-size-fits-all guideline or routine for building stakeholder relations. Our approaches to stakeholders are guided by our values and policies. Stakeholder relations are different in nature and vary from formalized and long-lasting partnerships to informal contact and ad hoc dialog.

Our relations with stakeholders such as employees, customers, investors, suppliers, and authorities are generally formalized to facilitate continuous cooperation. On the other hand, relations with stakeholders such as neighbors, consumer organizations, educational institutions, and environmental organizations are most often defined on a case-by-case basis, depending on the situation.

The issues that we discuss with our stakeholders sometimes go beyond the traditional business agenda, but are always within our sphere of influence. Examples of such issues are human rights, the environment, gene technology, and occupational health and safety. We continuously develop stakeholder relations around these and other issues, which are of high importance to Novozymes and our specific stakeholders.

Active engagement with stakeholders in the broadest sense will be further embedded into day-to-day business. One target for 2009 is to introduce new processes throughout Novozymes. We will develop and provide tools and training on stakeholder dialog, stakeholder mapping, and issues mapping to all sites world wide.

Sustainability set-up
Our organizational set-up addressing sustainability directly involves top management and vice presidents from lines of business and sites around the world to achieve optimal coordination. In this way, we address economic, social, and environmental aspects of our activities in order to create and contribute to long-term sustainable business growth.

On September 1, 2007, Novozymes launched a re-organization process. This included reconstitution of Novozymes’ Executive Management and the establishment of a new business unit, Stakeholder Relations, covering People & Organization, Public Affairs, Corporate Communication, Facilitation, and Sustainability Development. The overall objective is to strengthen focus on managing stakeholder relations and thereby support the creation of value for Novozymes and key stakeholders.

See also:
Risk management in the Novozymes Report 2008
Corporate governance at www.novozymes.com
Sustainability at www.novozymes.com