Innovation portfolio articulation, evaluation and prioritization for major energy multinational
Growth Decisions Inc. All rights reserved
About the Client
The client is a global oil and gas multinational and one of the largest energy company by market capitalization. Their operations and vertically integrated into all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has operations in renewable energy including biofuels and wind power.
Business Challenge
The increasing use of electric vehicles and self-driving cars will transform not only how we live but also will transform multiple industries. The client, given these transformative trends and forces, needed to start innovating about the opportunities that this transition may bring to their business.
One of their major business units needed support identifying, sizing, evaluating and prioritizing 30+ innovation initiatives so top-management could create a sound multi-year innovation plan and budget key resources accordingly that were in line for their long-term corporate strategy.
How We Helped
Growth Decisions articulated a sound analytical and executive facilitation framework to allow the business unit to rigorously identify, articulate, evaluate and prioritize 30+ initiatives around self-driving vehicles, advanced materials and clean technologies. Key achievements included:
Led development of approach to identify, size and evaluate 30+ growth and innovation opportunities worldwide for one of the largest oil and gas corporations.
Supported client team crafting the details of innovation concepts including review of the target markets, potential market size estimations, unmet needs and requirements, concept articulation, strategic rationale, value to be created and enabling technologies.
Developed advanced analytical portfolio management model and approach for decision-making and resource allocation that allowed a fact-based evaluation of each innovation opportunity in terms of market attractiveness and execution complexity.
Facilitated work with business leads. GMs and VPs. around clean tech, electric vehicles, advanced materials and lubricants to achieve executive alignment around key priorities.
Competitive intensity and business pace continue to increase across industries. The products that provide most of your company’s revenue today will not necessarily do so tomorrow. Companies that want to succeed need to generate an ongoing supply of fresh, high-potential ideas for growth.