Integrated academic report-the innovation and change of BP(British Essay

Integrated academic report-the innovation and change of BP(British Petroleum - Essay Example The project presents the experience of the organisation through the process of innovation and change and benefits that it has been able to gain through the process. The main area that the project tries to explore is the organisation’s present innovative position in the industry. This includes the changes that it has incorporated since the last five years. It also explores the company’s future vision and strategies towards innovation and the components contained in the vision. The next part of the project aims to identify the various competencies and cultures that organisations must to enhance and remain innovative in its operations. Following this, the project identifies the different avenues of learning existing in British Petroleum. Finally, the entire process of change management has been explored which includes the role of change agents, the different barriers and enablers and the internal and the external communications. Part 1: The organization’s need for i nnovation The new age of 21st century also demands a fresh understanding of the nature of its society and its responsibilities. A shared responsibility should be taken by all the citizens of the world in order to have a sustainable development for its own future. Adaptation efforts are going on and it must be expanded also, but these adaptation techniques are very costly and less effective with the growing magnitude of the climate change. The global climatic change has been recognized as the most intractable and most dangerous of all the environmental impacts of the energy. Another problem adding to it is the macroeconomic vulnerability which is arising due to the oil dependencies overall. It’s high time to innovate new processes now to cope with the situation. On an average worldwide, 12 warmest years out of the last 150 years have occurred since 1990. The warmest 50 years were the last 50 in 6000 years. Over the last few years it is also seen that sea ice shrinking, places like Greenland, Antarctic ice is melting. Wildfires, heat waves, storms and flood damages have also get increased in the last few years. On the other hand Oil dependencies are also rising for different countries. According to reports in 2005 United States was dependent for about 65.4 % of its total oil required on imports. This was the highest amount of oil dependence percentage in imports in US history. The cost incurred for this oil imports in 2005 was around $231 billion which accounts to 30% of the U.S net trade deficit on the same year (Holdren, 2006, p.7-10). One of the major motivations for innovation in British Petroleum is the need to retain or increase its profitability which will provide incentives for innovation to cut costs provide new services and thus in turn improve their market share. With the new innovation strategies there is better quality services and also gaining trust with the shareholders. Over the last 10 years BP has radically changed its strategies in ever y aspects of the company. After the tragic events of 2010 there is a severe impact on the BP trust. In order to gain trust again from the people and gain market share BP is developing and then implementing comprehensive processes to strengthen more safety