Innovating chemicals and petroleum

Revenue and efficiency in a volatile age

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Executive overview

Authors: David M. Womack

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, IBM Global Director of Strategy and Business Development,
Cor van der Struijf

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, Senior Cloud Advisor,
Anthony Marshall

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, Research Director, IBM Institute for Business Value, IBM Global Business Services

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.

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