Managing Innovation and New Technologies in the Extractive Industries from edX

Extractive industries—including the mining and oil & gas energy sectors—have become more technology-intensive over the years, and the pace of their technological change is only accelerating as the years role on. Despite this increasing importance on technology, however, the companies, government agencies, and stakeholders connected to these industries frequently struggle with how to manage these kinds of change.

This MOOC will give participants an awareness of how innovation and R&D happen within these sectors and, by teaching them how to apply a broad range of tools and fresh ideas from other industries that have historically been more comfortable with technology, shows them how they can get better results from innovation-related activities.

In so doing, participants from these industries will become more adept at inventing and deploying innovations, thereby enabling them to make significant progress towards SDGs 7 (Affordable and Clean Energy), 9 (Industry, Innovation and Infrastructure) and 13 (Climate Action).

This course is for:

Anyone who is connected to the innovation-related aspects of their organization, who works in decision-making roles that are frequently impacted by the emergence of new technologies, or who wants to play a role in creating a more innovative environment within their business, government agency, or stakeholder group related to the extractive industries.

What's inside

Learning objectives

By the end of this course, participants will:
Develop an appreciation for the role of innovation in the success of energy and resource firms.
Understand the unique and industry-specific challenges of r&d in the energy and resource sectors.
Understand the different types of innovation.
Understand “open innovation” and know a few ways that they can become open innovators who successfully leverage innovations and good ideas from other organizations and industries.

Know how to articulate and calculate the potential value of energy and resource technologies, and to recognize the limitations of different valuation methods.
Understand how/why dominant designs emerge in the marketplace, but not always (and the market conditions that typically give rise to each scenario).
Know how to connect your technology strategy to the larger strategic aims of your organization.
Know how organizational structures impact innovation processes, thereby helping them to design organizations that are more innovative and successful in managing novel technologies.
Understand tools and approaches for managing and tracking new product development and their organization’s r&d portfolio.

By the end of this course, participants will:
Develop an appreciation for the role of innovation in the success of energy and resource firms.
Understand the unique and industry-specific challenges of r&d in the energy and resource sectors.
Understand the different types of innovation.
Understand “open innovation” and know a few ways that they can become open innovators who successfully leverage innovations and good ideas from other organizations and industries.
Know how to articulate and calculate the potential value of energy and resource technologies, and to recognize the limitations of different valuation methods.
Understand how/why dominant designs emerge in the marketplace, but not always (and the market conditions that typically give rise to each scenario).
Know how to connect your technology strategy to the larger strategic aims of your organization.
Know how organizational structures impact innovation processes, thereby helping them to design organizations that are more innovative and successful in managing novel technologies.
Understand tools and approaches for managing and tracking new product development and their organization’s r&d portfolio.

Syllabus

Module 1 - Innovation and New Technologies within the Extractive Industries : The Big Picture

Chapter 1: Background

Chapter 2: Sources and Type of Innovation

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Explores the unique challenges of R&D in the energy and resource sectors, which is valuable for professionals seeking to improve their organization's innovation processes

Teaches how to connect technology strategy to the larger strategic aims of an organization, which is essential for aligning innovation efforts with business goals

Examines how organizational structures impact innovation processes, which helps learners design more innovative and successful organizations

Discusses the Technology Readiness Levels (TRLs), which is a standard tool for tracking progress in R&D organizations

Explores the concept of 'open innovation' and how to leverage ideas from other organizations, which can broaden perspectives and foster collaboration

Examines the emergence of dominant designs in the marketplace, which may be less relevant to fields where innovation is less design-focused

Reviews summary

Innovation and new technologies in extractive industries

According to learners, this course offers a highly relevant and valuable overview of innovation specifically tailored for the extractive industries. Students particularly appreciated the practical application of concepts and frameworks, such as Technology Readiness Levels (TRLs) and methods for technology valuation. While the content was generally well-received for its focus on this niche, some reviewers found the delivery method could be dry at times, potentially impacting engagement for some. The course is seen as providing a solid foundation for understanding innovation within this unique sector.

Provides a solid, but sometimes general, foundation.

"The course provides a strong foundational understanding of innovation management for the industry."

"It's a great introduction, though some areas could benefit from deeper dives."

"Gave me a comprehensive overview, covering many key aspects without getting lost in excessive detail."

"A good starting point for understanding the landscape of technology and innovation in the sector."

Applies broader innovation ideas to the sector.

"It was great to see how concepts like 'open innovation' can be applied specifically to the extractive industries."

"The course effectively bridges general innovation theory with the realities and challenges of my sector."

"I gained new perspectives on sources of innovation and timing of entry through the lens of oil and gas."

"Helped me understand how to connect technology strategy to overall business goals within my organization."

Covers useful frameworks like TRLs and valuation.

"The module on Technology Readiness Levels (TRLs) and technology valuation was incredibly practical and useful."

"I learned concrete methods for assessing the value of new technologies, which I can apply immediately."

"Understanding TRLs gives me a clear framework for tracking R&D progress."

"The course provided practical tools I hadn't encountered elsewhere, especially tailored for our industry context."

Highly relevant for professionals in the extractive sectors.

"This course is particularly relevant for anyone working in the mining, oil & gas, or related sectors who deals with new technologies."

"I found the focus on extractive industries extremely helpful; it's rare to find a course specifically addressing this sector."

"The examples and challenges discussed were directly applicable to my work in the resource industry."

"Finally, a course that understands the unique innovation challenges in our field."

Delivery can be somewhat dry for some learners.

"While the content is excellent, the delivery felt a bit dry at times, which made it hard to stay fully engaged."

"Some lectures felt less dynamic than others, potentially impacting focus."

"The information is valuable, but I wished for a more interactive or varied presentation style."

"The pace and tone might not suit everyone, but the core material is solid."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Managing Innovation and New Technologies in the Extractive Industries with these activities:

Review 'The Innovator's Dilemma'

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Understand the challenges established firms face when confronted with disruptive technologies.

View The Innovator's Dilemma: When New Technologies... on Amazon

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Obtain a copy of 'The Innovator's Dilemma'.
Read the book, focusing on disruptive innovation.
Relate the concepts to the extractive industries.

Review Basics of Technology Valuation

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Reinforce your understanding of fundamental valuation principles before delving into technology-specific valuation methods.

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Review basic financial accounting principles.
Study discounted cash flow analysis.
Practice valuation exercises.

Analyze a Technology Adoption Case Study

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Apply course concepts by analyzing a real-world example of technology adoption (or lack thereof) in the extractive industries.

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Select a specific technology and company.
Research the technology's adoption history.
Analyze the factors influencing adoption.
Write a report summarizing your findings.

Four other activities

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Create a Presentation on Dominant Designs

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Solidify your understanding of dominant designs by creating a presentation explaining the concept and its relevance to the extractive industries.

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Research dominant designs and examples.
Develop a presentation outline.
Create visually appealing slides.
Practice your presentation delivery.

Review 'Open Innovation'

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Deepen your understanding of open innovation strategies and their application to the extractive industries.

View Open Innovation: The New Imperative for... on Amazon

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Obtain a copy of 'Open Innovation'.
Read the book, focusing on key concepts.
Identify potential applications in extractive industries.

Develop a Technology Roadmap

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Apply your knowledge by creating a technology roadmap for a specific company or sector within the extractive industries.

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Select a company or sector to focus on.
Identify key technology trends.
Develop a timeline for technology adoption.
Present your technology roadmap.

Attend an Industry Conference

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Expand your network and learn about the latest innovations by attending an industry conference related to extractive industries and technology.

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Identify relevant industry conferences.
Register for the conference.
Attend sessions and network with attendees.
Summarize key takeaways from the conference.

Career center

Learners who complete Managing Innovation and New Technologies in the Extractive Industries will develop knowledge and skills that may be useful to these careers:

Innovation Manager

An Innovation Manager drives the development and implementation of new ideas and technologies within an organization. This role requires a strong understanding of industry trends, R&D processes, and strategic alignment. This course helps build a foundation for success as an Innovation Manager, particularly within the extractive industries. The course provides insights into the unique challenges and opportunities of innovation in these sectors, as well as tools for evaluating and managing new technologies. The course material on technology valuation and tracking progress using technology readiness levels may be especially useful for an Innovation Manager.

See salaries and explore the career path for Innovation Manager

Research and Development Manager

A Research and Development Manager oversees the planning, execution, and evaluation of research projects aimed at developing new products or improving existing ones. This role requires a deep understanding of scientific principles, project management methodologies, and industry trends. This course gives one the tools to excel as a Research and Development Manager, especially within the technology-intensive extractive industries. The course provides insights into the unique R&D challenges in these sectors and teaches how to apply tools from other industries to achieve better innovation-related results. The course material on R&D portfolio management and technology valuation could be especially helpful for a Research and Development Manager.

See salaries and explore the career path for Research and Development Manager

Government Regulator

A Government Regulator ensures that companies and organizations comply with relevant laws and regulations. This course helps build understanding of the challenges in managing innovation in the extractive industries, which is useful for creating effective and realistic regulations. The course provides awareness on how to successfully leverage innovations and ideas from other organizations and industries. A Government Regulator will be better equipped to develop policies that promote both innovation and responsible practices.

See salaries and explore the career path for Government Regulator

Technology Strategist

A Technology Strategist aligns an organization's technology investments with its overall business goals. They identify emerging technologies, assess their potential impact, and develop strategies for their adoption and implementation. This course helps build a foundation for success as a Technology Strategist, especially within the evolving landscape of the extractive industries. The course provides a framework for understanding innovation, managing R&D, and connecting technology strategy to broader organizational aims. A Technology Strategist may find the course material on dominant designs and technology valuation particularly relevant.

See salaries and explore the career path for Technology Strategist

Sustainability Manager

A Sustainability Manager develops and implements strategies to reduce an organization's environmental impact and promote sustainable practices. They may work to improve energy efficiency, reduce waste, and promote the use of renewable resources. This course may be useful to one in the role of Sustainability Manager by providing insights into how innovation and new technologies can contribute to sustainability goals within the extractive industries. The course focuses on how to make progress toward the United Nations Sustainable Development Goals (SDGs) related to affordable/clean energy, industry/innovation/infrastructure, and climate action. A Sustainability Manager may find the content on technology valuation helpful in assessing the value of sustainability initiatives.

See salaries and explore the career path for Sustainability Manager

Project Manager

A Project Manager plans, executes, and closes specific projects, ensuring they are completed on time, within budget, and to the required quality standards. This role requires strong organizational, communication, and problem-solving skills. This course may be useful to develop skills as a Project Manager, particularly for those working on technology-related projects within the extractive industries. The course provides a framework for managing R&D, tracking progress, and connecting technology strategy to organizational objectives. A Project Manager may find the content on technology readiness levels to be especially helpful.

See salaries and explore the career path for Project Manager

Business Development Manager

A Business Development Manager identifies and pursues new business opportunities to drive revenue growth. This role requires a strong understanding of market trends, customer needs, and competitive landscape. This course may be useful to develop skills as a Business Development Manager, particularly for those focused on introducing new technologies or expanding into new markets within the extractive industries. The course provides insights into innovation, technology valuation, and strategic alignment. A Business Development Manager might find the course material on open innovation particularly valuable.

See salaries and explore the career path for Business Development Manager

Product Manager

A Product Manager is responsible for the strategy, roadmap, and feature definition of a specific product or product line. This role requires a deep understanding of customer needs, market trends, and technological capabilities. This course may be useful to develop skills as a Product Manager, especially for those working with technology-intensive products in the extractive industries. The course provides a framework for managing innovation, tracking progress, and understanding dominant designs. A Product Manager may find the content on technology valuation and technology readiness levels particularly relevant.

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Management Consultant

A Management Consultant advises organizations on how to improve their performance and efficiency. This often involves analyzing existing problems and developing plans for improvement. This course may be useful to enhance one's capabilities as a Management Consultant, particularly when working with clients in the extractive industries. The course provides a broad understanding of innovation management, technology strategy, and organizational design. A Management Consultant might find the modules on innovation strategy and technology valuation particularly valuable.

See salaries and explore the career path for Management Consultant

Financial Analyst

A Financial Analyst analyzes financial data, prepares reports, and provides recommendations to guide investment decisions. This role requires a strong understanding of financial modeling, valuation techniques, and risk management. This course may be useful to enhance ones capabilities as a Financial Analyst, particularly for those working with companies in the extractive industries. The course provides a framework for calculating the value of innovations and understanding the limitations of different valuation methods. A Financial Analyst may appreciate the course's practical approach to technology valuation.

See salaries and explore the career path for Financial Analyst

Policy Analyst

A Policy Analyst researches and analyzes policy issues, develops recommendations, and communicates findings to policymakers and the public. This role requires strong analytical, writing, and communication skills. This course may be useful to develop skills as a Policy Analyst, especially for those working on energy and resource policy issues. The course provides insights into the challenges of managing innovation and technology in the extractive industries and how these industries can contribute to sustainable development goals. A Policy Analyst might find the course material on dominant designs and technology adoption particularly valuable.

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Operations Manager

An Operations Manager oversees the day-to-day activities of an organization to ensure efficiency and effectiveness. This course may be useful to build skills as an Operations Manager, especially in the extractive industries where technology plays a vital role. The course covers how innovation and R&D happen within these sectors. By understanding these aspects, an Operations Manager can better integrate new technologies into existing operations and drive performance improvements. The course may help improve organization and understanding of new product development.

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Data Analyst

A Data Analyst collects, cleans, and analyzes data to identify trends, patterns, and insights that can inform business decisions. This course may be useful for a Data Analyst by providing context on the specific challenges and opportunities within the extractive industries. While the course may not directly focus on data analysis techniques, the knowledge of technology trends and innovation processes can help a Data Analyst frame their analysis and provide more relevant insights. The course may add awareness of how innovation and R&D happen within these sectors.

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Compliance Officer

A Compliance Officer ensures that an organization adheres to laws, regulations, and internal policies. This course may be useful for a Compliance Officer because it provides an understanding of the technology landscape within the extractive industries. This understanding is valuable when assessing the compliance implications of new technologies and ensuring that the organization meets its regulatory obligations related to environmental impact and sustainable development. The course helps one play a role in creating a more innovative environment.

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Technical Sales Representative

A Technical Sales Representative sells complex technical products or services to businesses or organizations. This course may be useful for a Technical Sales Representative because it provides a broad understanding of innovation and technology trends within the extractive industries. This knowledge is crucial for effectively communicating the value proposition of technical products and services to potential clients in these sectors. The course helps better understand the concerns of government agencies.

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Managing Innovation and New Technologies in the Extractive Industries

What's inside

Learning objectives

Syllabus

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Reviews summary

Innovation and new technologies in extractive industries

Activities

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