Innovation – The key to growth
The global chemicals and petroleum (C&P) industry is facing unprecedented challenges. Falling crude prices, volatile socioeconomic and political environments, new forms of competition, and ever-increasing demands for sustainability and safety are disrupting the industry. As C&P organizations navigate these challenges, they can learn valuable lessons from leading global innovators. C&P companies can apply these learnings to create new structures, functions and cultural environments conducive to innovation, and to establish more efficient processes for converting ideas into outcomes. By embracing these successful innovation strategies, C&P organizations can position themselves not only to overcome current challenges, but also to grow revenue, capture efficiencies and join the ranks of the outperformers.
About the authors
Research Director and Strategy Leader
IBM Institute for Business Value
Cor van der Struijf
Senior Cloud Advisor
Global IBM Cloud Unit
David M. Womack
Global Director of Strategy and Business Development, Chemicals and Petroleum Industry
IBM Sales and Distribution
Read related IBM executive reports
More than magic
How the most successful organizations innovate
A new natural resource
Your cognitive future in the oil and gas industry
The new age of ecosystems
Redefining partnering in an ecosystem environment
Download the IBV App
Access our latest thought leadership, including C-suite studies and industry insights. Maintain a library, receive regular updates. Explore enhanced content.
Sign up to receive monthly e-mail updates on recent papers from the IBM Institute for Business Value.
Enhance exploration and production, improve refining and manufacturing efficiency, and optimize global operations