Sealed Air in India announced on October 29, 2013, that it was presented with the prestigious Porter Prize for Creating Distinctive Value by the Institute for Competitiveness (IFC) in India at an award ceremony held on 11 October 2013. This award category recognises companies for offering unique solutions to the problems or needs of the customer.
Named after Professor Michael E. Porter, renowned philosopher, Harvard faculty member and Father of the modern strategic field, the Porter Prize awards were organised by the IFC to recognise the strategic acumen of top Indian companies and the positive impact they are making on the performance of the overall industry. As the Indian economy matures, strategy plays an all-important role in enhancing the competitiveness of the country. The award process serves as an impetus to rethink current strategy and propel companies to compete on the basis of value creation, innovation and strategy. The four pillars of assessment are capitalizing on industry dynamics, segmenting strategically, leveraging unique activities and exploiting tradeoffs.
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“Sealed Air’s vision is to create a better way for life and our mission is to re-imagine the ways we serve our industries by combining ingenious ideas and diverse expertise. We are honoured to receive the Porter Prize award which supports exactly what we believe in – the need to constantly re-think and transform sustainable solutions into business changing results,” said Yagmur Sagnak, President, Asia, Middle East, Africa and Turkey, Sealed Air.
Sealed Air was first established in India in 1995 and to-date, it employs about 430 employees across two manufacturing plants and three knowledge and training centres. It offers a comprehensive portfolio of products and solutions in food safety and security, facility hygiene and product protection through three divisions – Food Care, Product Care and Diversey Care. Sealed Air’s packaging and hygiene solutions serves a multitude of industries, from hospitality, retail, healthcare, food & beverage to aviation, automotive, logistics and engineering. Because of its multiple customer touch points such as food safety, hygiene and sanitation, Sealed Air’s strategy is to partner its customers to address the unique needs and changing lifestyle trends of the local market by offering unique value mix for distinct market segments.
“India is a key market for Sealed Air and our strategy has always been to offer differentiating and unique value to customers. Our position as a total solutions provider is definitely a competitive advantage but just as important is the ability to deliver equally on performance, cost competitiveness and sustainability. Innovation is key and we are committed to developing the market by continuously partnering with customers to raise industry standards and awareness,” said Himanshu Jain, Vice President for Indian Subcontinent, Sealed Air.
This is the second award on strategy that Sealed Air has received from IFC in India. Last year, it was presented with the IFC Mint Strategy Award at the inaugural launch of the Porter Prize Awards.