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Royal Dutch Shell’s Innovation.
Finance & Accounting
Pages 4 (1004 words)
Given the nature of completion in product marketing sectors of the economy and the globalization of trade, companies are prompted to heavily invest in innovation and technology as a cost-effective approach to competition.
There are a lot of financial bearings which must be met by the innovative firm. The process of innovating a firm involves proper analysis of the market (especially in a perfectly competitive industry) which covers from products/services to management strategies. Shell being one of the firms which operates in an open economy is not left behind in adopting new technologies and innovations in exploration, production, and marketing of oil and gas products globally. As noted by Hamel & Skarzynski (2012, p.14), the future of an organization in this stiffly competitive world is bestowed on the ability of the firm to effectively and flexible use technology which stands the potential of enhancing its innovativeness. Royal Dutch Shell has been a pace setter in production and management innovation. Through its technological innovations and flexibility, Royal Dutch Shell has revolutionized the Energy sector for decades. However, like other firms in the industry, the innovation structure adopted by the Royal Shell has certain drawbacks and strengths. The innovation management structure of the Royal Dutch Shell builds on its strengths as a key tool to satisfy its customers and the well being of the employees. ...
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