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Managing Innovation and New Technologies in the Extractives Industries

Robert Perrons

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.

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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).

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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.

Syllabus

Module 1 - Innovation and New Technologies within the Extractice Industries : The Big Picture
Chapter 1: Background
Chapter 2: Sources and Type of Innovation
Read more
Chapter 3: Where Do Ideas for New Technologies Come From?
Chapter 4: Try, Try Again!
Module 2 - Technology Standards and Design Dominance
Chapter 1: How Dominant Designs Get Selectied
Chapter 2: Examples of Dominant Designs Emerging in the Extractive Industries
Chapter 3: When Dominant Designs Can Be Unhelpful
Chapter 4: How Dominant Designs Could Help the Extractive Industries
Chapter 5: Does a Dominant Design Always Emerge?
Module 3 - Timing of Entry
Chapter 1: Is It Better to Be a First Mover or a Fast Follower?
Chapter 2: Why are the Extractive Industries So Slow to Adopt New Technologies?
Chapter 3: Factors Influencing Optimal Timing of Entry
Module 4 - Innovation Strategy
Chapter 1: The Relationship Between an Organization's Overarching Strategy and Its Innovation Strategy
Module 5 - Technology Readiness Levels (TRLs) and Other Tools for Tracking Progress
Chapter 1: A Typical Dashboard of a R&D Organization
Chapter 2: Technology Readiness Levels (TRLs)
Module 6 - Technology Valuation
Chapter 1: Calculating the Value of Innovations: Motivations and Basic Approaches
Chapter 2: A Five-Point Framework for Calculating an Innovation’s Value in the Extractive Industries
Chapter 3: Interview with Paul Rudenko, Shell’s Lead Technology Economist
Chapter 4: Articulating Qualitative Value
Module 7 - The Future
Chapter 1: How Are Digital Technologies Changing How Innovation Happens?

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Explores innovation and R&D within the extractive industries, which may help professionals in these sectors improve their innovation-related activities and contribute to sustainable development goals
Examines the unique challenges of R&D in the energy and resource sectors, which may help learners better navigate the specific hurdles within these industries
Discusses technology readiness levels (TRLs), which are used to track progress in R&D organizations and are especially relevant for those managing technology development
Teaches how to calculate the potential value of energy and resource technologies, which is a core skill for professionals involved in investment decisions and technology development
Examines dominant designs and their impact, which may help learners understand how technology standards evolve and how to strategically position their organizations
Requires learners to understand how organizational structures impact innovation processes, which may require learners to have some prior knowledge of organizational theory

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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 Extractives Industries with these activities:
Review 'The Innovator's Dilemma'
Understand the challenges established firms face when dealing with disruptive technologies, a key theme in the course.
View The Innovator's Dilemma, with a New Foreword on Amazon
Show steps
  • Read the book, focusing on the core concepts of disruptive innovation.
  • Identify examples of disruptive innovation in the extractive industries.
  • Reflect on how the concepts apply to the course's learning objectives.
Review Basics of Financial Valuation
Strengthen your understanding of financial valuation techniques, which are essential for assessing the potential of new technologies in the extractive industries.
Show steps
  • Review basic financial concepts like NPV and IRR.
  • Practice applying these concepts to hypothetical technology investments.
Follow a Tutorial on Technology Forecasting
Enhance your skills in technology forecasting, which is crucial for making informed decisions about technology investments in the extractive industries.
Browse courses on Forecasting
Show steps
  • Find a tutorial on a specific technology forecasting method (e.g., Delphi method, trend extrapolation).
  • Work through the tutorial, applying the method to a hypothetical technology in the extractive industries.
  • Reflect on the strengths and limitations of the method.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Create a Presentation on Open Innovation
Solidify your understanding of open innovation by creating a presentation that explains the concept and its application in the extractive industries.
Browse courses on Open Innovation
Show steps
  • Research open innovation strategies and examples.
  • Develop a presentation outlining the benefits and challenges of open innovation.
  • Include specific examples relevant to the extractive industries.
Review 'Open Innovation: The New Imperative for Creating And Profiting from Technology'
Gain a deeper understanding of open innovation principles and strategies, as discussed in the course.
View Open Innovation: The New Imperative for... on Amazon
Show steps
  • Read the book, focusing on the different models of open innovation.
  • Identify potential applications of open innovation in the extractive industries.
  • Consider how open innovation can address the challenges of technology adoption in these industries.
Develop a Technology Readiness Level (TRL) Dashboard
Apply your knowledge of TRLs by creating a dashboard to track the progress of R&D projects in an extractive industry context.
Show steps
  • Familiarize yourself with the TRL scale and its application.
  • Design a dashboard to visualize the TRLs of different projects.
  • Include key metrics and indicators for each TRL stage.
Analyze a Failed Technology Adoption
Deepen your understanding of the factors that influence technology adoption by analyzing a real-world example of a failed technology implementation in the extractive industries.
Show steps
  • Select a specific technology adoption failure in the extractive industries.
  • Research the reasons for the failure, considering technological, economic, and organizational factors.
  • Write a report summarizing your findings and drawing lessons for future technology adoption efforts.

Career center

Learners who complete Managing Innovation and New Technologies in the Extractives Industries will develop knowledge and skills that may be useful to these careers:
Research and Development Manager
A Research and Development Manager is responsible for overseeing the planning and execution of research projects with the objective of developing new and improved technologies and products. This course will be helpful to a research and development manager because it covers the unique challenges of research and development in the energy and resource sectors. It also delves into the different types of innovation. The course's focus on technology valuation and tracking new product development, through tools like Technology Readiness Levels (TRLs), is indispensable for a Research and Development Manager. A R&D manager will need to know how to strategically deploy resources in the development of new technologies.
See salaries and explore the career path for Research and Development Manager
Energy Analyst
An Energy Analyst studies the energy sector, including trends, policies, and technologies. This course helps such a professional understand how new technologies and innovation impact the energy sector. The course covers innovations within the extractive industries, including oil and gas. This course would be useful for an energy analyst since it helps them understand the technological and strategic dimensions of the energy sector, which are essential for anyone conducting analysis within the energy field.
See salaries and explore the career path for Energy Analyst
Technology Strategist
A Technology Strategist develops and implements technology strategies that align with an organization's overall goals. This course directly relates to the role by exploring how a technology strategy should be connected to an organization's strategic objectives. It covers key aspects of technology, innovation, and valuation, which are essential for a Technology Strategist. A technology strategist will need to understand the different types of innovation and how to manage the process of new product and technology development. This course helps build a foundation for creating a technology strategy that will help an organization adapt to innovations and changes in the technology landscape.
See salaries and explore the career path for Technology Strategist
Product Development Manager
A Product Development Manager oversees the process of creating new products or improving existing ones. This course may be helpful because it explores a number of topics that are relevant to this role. The course covers technology readiness levels, new product development tracking, and technology valuation. A product development manager needs to understand how to value new technologies and manage the product's development. This course offers specific tools and insights that are directly applicable to the management of technology-based products, thereby enhancing a product development manager's ability to bring innovative products to market.
See salaries and explore the career path for Product Development Manager
Innovation Consultant
An Innovation Consultant advises organizations on how to foster innovation, and this course would serve to build a foundation for such a role. This course covers many aspects related to innovation, from identifying new ideas to managing their development. It discusses different types of innovation and how to integrate them within business strategies. The course's exploration of various innovation tools and approaches, including open innovation, is very important to the work of an innovation consultant. An innovation consultant would find it helpful to be familiar with the material in this course which may improve their ability to advise clients effectively and develop effective innovation strategies.
See salaries and explore the career path for Innovation Consultant
Innovation Manager
An Innovation Manager is responsible for fostering a culture of innovation within an organization, and this course directly addresses key aspects of that role. This course provides an understanding of how innovation happens, which is critical for an Innovation Manager who needs to guide and encourage new ideas. The course covers the unique challenges of research and development in extractive industries as well as different types of innovation and how to leverage ideas from other industries. Furthermore, tools for managing and tracking new product development are covered. This course may be useful for an Innovation Manager because it offers the strategic perspective and practical tools to enhance their ability to manage and deploy innovation initiatives effectively.
See salaries and explore the career path for Innovation Manager
Technology Transfer Specialist
A Technology Transfer Specialist facilitates the transfer of technology and intellectual property from research institutions to the marketplace. This course may be helpful because it covers the management of innovation and new technologies. A technology transfer specialist will find value in the material on technology valuation and management of new product development. This course may be useful because it gives a Technology Transfer Specialist the necessary awareness of the technological and strategic aspects of bringing new technologies to market.
See salaries and explore the career path for Technology Transfer Specialist
Technology Analyst
A Technology Analyst evaluates technology trends and their potential impact on an organization, and the topics covered in this course will be directly relevant to that role. A technology analyst would be well-served by the course's approach to understanding innovation and how to value it. This course also examines the impact of dominant designs on the marketplace, and this is critical for anyone performing technology analysis. A technology analyst would greatly benefit from the content of this course where they will learn more about technology and innovation management.
See salaries and explore the career path for Technology Analyst
Strategic Planner
A Strategic Planner develops long-term plans and strategies for an organization, and this course has elements that are directly applicable to this role, especially in the extractive industries. The course examines the relationship between an organization’s strategy and its innovation strategy. Strategic planners must understand the ways in which new technologies develop and how to value them. This course focuses on this. For a Strategic Planner, a course that enhances an understanding of technology trends and their impact on the organization will likely be useful since they need to consider these innovations for strategy development.
See salaries and explore the career path for Strategic Planner
Corporate Strategist
A Corporate Strategist formulates high-level strategies for a company. This course would be useful because it helps a strategist better understand the role of innovation in an industry. A corporate strategist needs to see how technology can impact an industry. For a corporate strategist, this course might be helpful to understand the landscape of innovation and how to incorporate new technologies within their organization's strategy. This course may help a corporate strategist build a foundation that may help them understand how to integrate innovation and technology into an organization's overall strategic plan.
See salaries and explore the career path for Corporate Strategist
Project Manager
A Project Manager is responsible for the overall planning, execution, and monitoring of projects, making sure that they are completed on time, within budget, and in scope, and this course will help on tech related projects within extractive industries. The aspects that are most relevant are those that deal with technology readiness levels, new product development tracking, and innovation management. For a project manager, the course's focus on managing new product development and innovation-related activities is essential. This course may be useful for a Project Manager because it provides valuable insight into the strategic aspects of innovation and its integration into the project lifecycle, increasing the project manager's chances of success.
See salaries and explore the career path for Project Manager
Sustainability Manager
A Sustainability Manager develops and implements strategies to reduce environmental impact and promote sustainability, and this course touches on that theme. This course mentions SDGs 7, 9, and 13, which are related to clean energy, innovation, and climate action. The course also introduces innovations that could have an impact on sustainability. This course may be useful for Sustainability Managers because they have to understand how to incorporate innovative technologies to achieve sustainability goals. A sustainability manager will also find value in the strategic and organizational aspects of innovation discussed in the course.
See salaries and explore the career path for Sustainability Manager
Business Development Manager
A Business Development Manager identifies and develops new business opportunities which often includes an understanding of new technology and its potential impact. This course helps such a professional understand how to identify and leverage new technologies and innovations, particularly within the extractive industries. It teaches how the value of new technologies can be calculated. In addition, participants will learn how dominant designs emerge and how that should influence an organization's strategy which is important for any business development manager. This course may be useful for a Business Development Manager who needs a better understanding of how to evaluate and integrate new technologies that can propel business growth.
See salaries and explore the career path for Business Development Manager
Operations Manager
An Operations Manager is responsible for the day-to-day activities of an organization, typically in the context of optimizing processes and workflows, and an understanding of how technology impacts these processes is important. This course provides a foundation of how new technologies are integrated into an organization. Operations managers will need to understand how innovation and technology may require a change in organizational process. The knowledge provided by the course will help them better understand how to manage and integrate innovations into their organization as they need to manage new technologies to optimize workflow.
See salaries and explore the career path for Operations Manager
Market Research Analyst
A Market Research Analyst analyzes market trends and consumer behavior, and this course will help that professional understand how the market interacts with new technologies. The course explores the emergence of dominant designs and the timing of entry for new technologies in the market. This course may be helpful for a Market Research Analyst because it provides a foundation of the dynamics of technology adoption and market trends, which will help them perform their analysis more effectively.
See salaries and explore the career path for Market Research Analyst

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Managing Innovation and New Technologies in the Extractives Industries.
Cover image
The Innovator's Dilemma, with a New Foreword
Save
Explores how successful companies can fail when faced with disruptive technologies. It's highly relevant to the course as it provides a framework for understanding why extractive industries might struggle with innovation. The book offers insights into how to avoid the pitfalls of focusing solely on sustaining innovations and neglecting disruptive ones. It foundational text for understanding innovation management.
The Innovator's Dilemma, with a New Foreword
Paperback
Check
The Innovator's Dilemma, with a New Foreword
Kindle Edition
Check
Cover image
Open Innovation
Save
Seminal work on the concept of open innovation. It provides a detailed explanation of how companies can leverage external ideas and technologies to accelerate innovation and improve their competitive advantage. It is particularly relevant to Module 1 and Module 4 of the course. This book is more valuable as additional reading to expand on the concepts of open innovation.
Open Innovation: The New Imperative for Creating...
Hardcover
$$
(日本語) Network beyond the open innovation organization to...
Tankobon Hardcover
$$
Open Innovation Lib/E: Researching a New Paradigm
Audio CD
$$

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Effort
2 to 4 hours per week for 8 weeks
Level
Intermediate
Via
edX
Institution
SDG Academy
Instructor
Robert Perrons
Session
January 20, 2025 - August 31, 2025
Language
English
Transcript
English
Good to know
Explores innovation and R&D within the extractive industries, which may help professionals in these sectors improve their innovation-related activities and contribute to sustainable development goals
Examines the unique challenges of R&D in the energy and resource sectors, which may help learners better navigate the specific hurdles within these industries
Discusses technology readiness levels (TRLs), which are used to track progress in R&D organizations and are especially relevant for those managing technology development
Teaches how to calculate the potential value of energy and resource technologies, which is a core skill for professionals involved in investment decisions and technology development
Examines dominant designs and their impact, which may help learners understand how technology standards evolve and how to strategically position their organizations
Requires learners to understand how organizational structures impact innovation processes, which may require learners to have some prior knowledge of organizational theory
Share and help others discover this course.
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