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Everything You Need to Know About Oilfield Services

Strategy Driven

These include seismic testing, directional services for drillers, transport services, and more. They also offer specialized expertise in engineering, procurement and construction. Companies must transform their business model to maximize the benefits of digital oilfield technologies.

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Innovation Requires a Bias Towards Action

LDRLB

There is often a huge lag between when we first see a new idea and when we really find out what it is good for – this is when we are working through business model innovation. The steam engine was initially seen as a device for pumping water from mines and only later as a power plant for movable ships or carriages.

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6 Ways Technology Can Help Companies Innovate Out of the Coronavirus Downturn

Strategy Driven

In my book, “The Innovation Ultimatum: How Six Strategic Technologies Will Reshape Every Business in the 2020s,” I outline the technologies that will drive unprecedented innovation into products and services in the 2020s, creating entirely new business models. These technologies are: Artificial intelligence (AI).

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To Understand the Future of Tesla, Look to the History of GM

Harvard Business Review

Sloan transformed corporate management into a real profession, and its stellar example was the continuous and relentless execution of the GM business model. And 100 years later Elon Musk would see that the future of transportation was no longer in internal combustion engines and build the next great automobile company.

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To Go Digital, Leaders Have to Change Some Core Beliefs

Harvard Business Review

Today, the list of disruptive new entrants is expanding and the primary differentiator is clear: they bring new mental models to existing industries and create new business models that customers and investors love. ” In order to get there, he plans to “evolve our business model accordingly.”

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Most On-Demand Businesses Aren’t Actually Disruptive

Harvard Business Review

Namely, more and more of the on-demand businesses we see on a daily basis are being founded atop increasingly weaker value propositions; convenience without any sort of sustainable cost advantage. When Uber and Airbnb burst on the scene, they were tackling major inefficiencies in the markets for transportation and housing.

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Reverse Innovation Starts with Education

Harvard Business Review

Reverse innovation is also a significant learning opportunity for students in engineering. Engineering graduates are good at solving problems. On a similar note, last week, I gave a keynote speech on reverse innovation to students at University of Alabama in the Science, Technology, Engineering, and Math (STEM) disciplines.