Evaluate the importance of innovation for the long-term survival for your chosen company as well as the industry that your chosen company fits in. Next, recommend an overall strategy to foster innovation in your chosen company. Provide a rationale for your response.
British Petroleum (BP) believes that there is the importance of innovation for the long-term survival of the organization. The executive team thinks that there is the organization must maintain a clear roadmap which allows the organization to continue a creative and transformative workplace that begins with asking four fundamental questions which needed to answer by leadership:
Where is the organization going?
How is the organization going to get the next level?
What resources are needed for the success of the organization?
What new technology is needed to succeed in the industry?
The following core questions are crucial parts of the strategic planning any organization. This type of innovative vision allows the organization to project the future by examining the organization from the past. "It's a method that enables you to open a new way forward—to imagine new businesses and business models for the future that can be prototyped and tested today."
The organization understands that the …show more content…
The chemical element of hydrogen might be used as a reusable energy source. "The uses include an efficient energy storage method or in transport applications (for example, in fuel cells, as above) as an alternative to hydrocarbons, with its zero ratios. Developing economically viable, low-carbon sources of hydrogen faces many technical challenges. For hydrogen to play a significant role as a transport fuel, a suitable storage mechanism also needs to be developed. With the right advances in production and infrastructure though, hydrogen technologies may have a considerable impact on the fuel mix in the power and transport sector
British Petroleum (BP) believes that there is the importance of innovation for the long-term survival of the organization. The executive team thinks that there is the organization must maintain a clear roadmap which allows the organization to continue a creative and transformative workplace that begins with asking four fundamental questions which needed to answer by leadership:
Where is the organization going?
How is the organization going to get the next level?
What resources are needed for the success of the organization?
What new technology is needed to succeed in the industry?
The following core questions are crucial parts of the strategic planning any organization. This type of innovative vision allows the organization to project the future by examining the organization from the past. "It's a method that enables you to open a new way forward—to imagine new businesses and business models for the future that can be prototyped and tested today."
The organization understands that the …show more content…
The chemical element of hydrogen might be used as a reusable energy source. "The uses include an efficient energy storage method or in transport applications (for example, in fuel cells, as above) as an alternative to hydrocarbons, with its zero ratios. Developing economically viable, low-carbon sources of hydrogen faces many technical challenges. For hydrogen to play a significant role as a transport fuel, a suitable storage mechanism also needs to be developed. With the right advances in production and infrastructure though, hydrogen technologies may have a considerable impact on the fuel mix in the power and transport sector