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Innovation Excellence
Book

Innovation Excellence

Creating Market Success in the Energy and Natural Resources Sectors

Stephan Scholtissek
Kogan Page, 2011
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Editorial Rating

7

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  • Applicable

Recommendation

Stephan Scholtissek, the global managing director for growth and strategy in Accenture’s Global Resources Operating Group, understands how innovation works and why it matters. He communicates its importance firmly and clearly through an array of examples, drawing on firms as varied as BP and Perrier. He demonstrates innovation’s centrality to the energy and natural resources sector, though his arguments are applicable to all industries. And, his lucid case studies illustrate how innovation occurs but are, sadly, too brief; they speed past how people made pivotal discoveries and implemented new ideas. That aside, getAbstract recommends Scholtissek’s beautifully produced book to those interested in innovating more effectively or in tracing the impact of innovation.

Summary

The Importance of Innovation

The business environment is changing. As the world globalizes, the “diamonds” that companies vie for and treasure today – skilled labor, natural resources, capital, and so on – will become as commoditized as water in the near future. Global prices will “harmonize.” While these assets may not become cheaper, the price variance between, say, hiring a skilled IT employee in Bangalore versus his counterpart in Boston will close. Factors such as “quality, purity and value” will become less relevant to consumers, and firms will struggle to differentiate themselves and compete. They will have to pursue “a last remaining precious gemstone – innovation.”

The natural resources and energy sector has “less time left...before these changes start to bite.” Change is already happening: The world is becoming more environmentally conscious, and the balance of global power is swinging toward emerging economies. For example, such nations as Brazil and India are beginning to displace longstanding developed economies. Corporations are crossing more national boundaries and seeking the newest “hotspots.” Thus, innovation is vital for natural resources and energy...

About the Author

Stephan Scholtissek is global managing director for growth and strategy in Accenture’s Global Resources Operating Group.

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