1.2 Strategy and analysis

Performance 2007
In The Novozymes Report 2007, the Board of Directors' report lists sustainability targets and outlines strategy, which is also covered by the Foreword - The dawn of sustainable development and several of the Topical themes. These themes also reflect on trends, opportunities and challenges.

Novozymes’ key impacts and performance 2007 is depicted by data, which is discussed together with broader external trends throughout the Topical themes and in the Financial, environmental and social discussion. The topical themes in the report as well as Novozymes’ Communication on progress vis-à-vis the UN Global Compact provide 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 to stakeholders such as employees, customers, investors, suppliers and authorities are generally formalized to facilitate continuous cooperation. On the other hand, relations to 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 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.

Sustainability set-up
Our organizational setup 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 1 September 2007, Novozymes launched a re-organization. This included reconstitution of Novozymes’ Executive Management and the establishment of a new business unit, Stakeholder Relations covering People & Organization, Public Affairs, Corporate Communication 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 factors in the Novozymes Report 2007
Corporate governance at www.novozymes.com
Sustainability at www.novozymes.com