The Oil Industry

Paper Summary:

This paper stresses the importance of innovation in the oil industry to provide the energy needed for modern technology. The paper analyzes innovation within the oil industry through its management, competition, innovation timing and company culture. The paper stresses the importance of strategic planning especially using the Bryson's Strategic Planning Model, which the writer deems is an accurate reflection of the current global and political environment. Two charts are included with the paper.

Table of Contents:
Introduction
Analyzing Industry Environment through Innovative Business Management
Analyzing Competition within the Industry
Timing of Innovation
Innovation speed
The Impact of Corporate Culture on Innovation
The Use of Core Competence as an Innovation Method
Internal Innovation
Research and Development
The Speed of Marketing the Innovated Product
The Relationship Between Innovation and Organizational Success
The Impact of Innovation on Organizational Capabilities
The Relationship between Experience and Innovation
Strategic Planning and Innovation
Bryson's Strategic Planning Model
Conclusion

From the Paper:

"Core competence is a new approach to thinking about a company's strategy. It is a distinct set of abilities that sets a business apart from its competitors, as it cannot be imitated, can be distributed in various markets and can provide benefits to consumers. It can be found in any business function, be it marketing, production or distribution. Oil companies need to adopt this concept in their companies to not only stand out in the oil trade but also to be able to last against whatever possible threats the government could make for the use of alternative fuels like ethanol."

Sample of Sources Used:

• Autio, E., Sapienza, H. J., & Almeida, J. G. (2000). Effects of age at entry, knowledge intensity and imitability on international growth. Adademy of Management Journal, 43 (5), 909-924.
• Barkema, H. G., & Vermeulen, F. (1998). International expansion through start-up or acquisition: A learning perspective. Academy of Management Journal, 41 (1), 7-26.
• Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17 (1), 99-121.
• Birnbaum-More, P.H. (1990). Competing with technology in 8-bit microprocessors. Journal of High Technology Management Research, 1 (1), 1-13.
• Bryson, J. M. (2004). Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement (3rd ed.). San Francisco: Bass.

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