We recently published an article looking at how multinationals are diversifying into new markets and sectors through the process (and power) of technological transformation. In that article we focused on FUJIFILM and we mentioned how other companies were undergoing the same transformational process; one such company is BAT (until very recently known as British American Tobacco).
BAT has announced that it has used its vast resources and scientific knowledge of tobacco plants to help develop a vaccine for the novel coronavirus COVID-19, which could be manufactured from June this year, to help fight the ongoing global pandemic. The new innovation has now moved to pre-clinical testing and BAT has said that it will work on the vaccine on a not-for-profit basis.
In March 2020, BAT’s CEO launched an evolved strategy, brand and vision for BAT: “Our purpose is to build a better tomorrow by reducing the health impact of our business through offering a greater choice of enjoyable and less risky products for our consumers”.
This new strategy involves embracing their societal responsibilities by not only creating less risky products, but also reducing their environmental impact; in this latest action of helping develop a vaccine for coronavirus, they are certainly living by their new slogan: “A Better Tomorrow”.