The pace of deepwater drilling has increased by 40 % over the last three years. While technology is a key enabler for deepwater development, players still face many critical challenges and decisions which require close attention if projects are to be delivered successfully.
Over the last decades most global companies have evolved to organize their innovation efforts through an “open innovation” model with individual research centers. Globalization and mergers & acquisitions have changed these networks, making them more complex to manage successfully.
The new economic environment combines hypercompetition, faster product lifecycles and more empowered consumers to change the rules of the game for companies wanting to succeed. To meet these challenges a new paradigm for business is emerging – the age where creativity wins.
In the past, water as a resource worried only a few industries. This has rapidly changed due to the scarcity of water around the world, especially in the emerging markets. Companies now need a clear view on the role water plays in their value creation and what they can do about it.
Creating and commercializing new ideas using inputs from multiple partners has been used for many years as the foundation for an “innovation ecosystem”. However, collaborating businesses often don’t realize the benefits they expect.
Innovation in regulated service industries with a legacy of state ownership, such as public transport, remains a major challenge in many countries. What are the pre-requisites for innovation and what can policymakers and companies do individually to overcome the barriers?