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- W2030771878 abstract "Abstract Innovation is the key ingredient to the success of any technology-based company independent of its size, market position or global presence. There are numerous worldwide examples that document that a company's success is directly linked to its ability to innovate and solve complex drilling and completion challenges in increasingly difficult environments. Generally, most technology providers strive to be innovative, but many struggle to accomplish the goal. Questions arise; why cannot all companies be innovative; why are certain companies more innovative than others; why are some companies innovative over a certain period of time and then lose their ability to sustain it? An initiative was recently launched to answer these questions. The process involved soliciting input from grass root employees about their perception of company innovations over the past 20 years. The main objective was to identify the underlying themes influencing and driving the innovation process. Finally, we wanted to determine what type of environment or culture is most likely to encourage and motivate employees to create innovative new technologies/ideas. This paper will outline key factors that correlate to a company's ability to create innovations from within. The conclusions are derived from extensive internal studies, but they are applicable to all technology-driven companies across a broad spectrum of industries. We will include a list of action items designed to change a company's culture to encourage innovation. These recommendations will also help companies sustain and predict innovation cycles. When the next upturn in drilling activity begins, the industry must be prepared to respond with new and updated technologies/services to meet the next generation of drilling and completion challenges. By first understanding, then fostering a culture of innovation, the service industry will be properly positioned to efficiently accomplish future operator driven goals and objectives." @default.
- W2030771878 created "2016-06-24" @default.
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- W2030771878 date "2010-09-19" @default.
- W2030771878 modified "2023-09-25" @default.
- W2030771878 title "Solving Future Challenges: Understanding Factors That Influence Innovation" @default.
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- W2030771878 doi "https://doi.org/10.2118/133787-ms" @default.
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