Managing Innovation and Technology Transfer †Free Samples

Question: Discuss about the Managing Innovation and Technology Transfer. Answer: Introduction Innovation process often involves different types of stakeholders, such as scientists, governments, marketing specialists, and consumers. The involved parties are usually diverse in groups and it helps in acquiring the innovative ideas for the further business development. According to Ritala and Sainio (2014), innovation is the method of generating ideas to ensure commercialization. Organisations use the diverse types of JOSCO is innovations including product, service, or process. The variations in the selling process or business activities are essential to establish the customer base and strengthen the organisational position (Andersson et al. 2016). The study will discuss the ICP technology innovation in Jordan Oil Shale Company. The company has been following the steady growth in the oil industry by adopting the frequent innovation process (Davenport 2013). It has been observed that JOSCO has been undertaking short and long time projects to enhance the profitability parameter. On e of those long term projects depends on the consecutive project periods that lead to the future commercial projects. JOSCO is committed to relinquish the government areas along with the data of oil shale that was gathered after exploring the operational activities. Therefore, the company is much concerned about increasing knowledge in terms of the governmental perception of using the resources. The company is looking forward to establish the sustainable position in order to face the challenges and build the responsible energy process in future. JOSCO has been striving for years to capture the position of the forefront of technological advancements within this sector. The major focus is to increase the benefits in the economic structure of the country. JOSCO has the full access to the wealth of innovational thinking and knowledge with the help of Global Research and Development Center. The operations team of the company has the perception that the technological advancements would be much helpful in transforming Jordan into the exporter of the knowledge to engage more countries for the future prospec ts (Josco.jo 2017). The research conducted on the ICP technology, expert resource evaluation, and the field operation models are the major commitments in the commercial field. It is reported that if Jordan lacks the conventional oil and gas resources for sustaining the economic developmental aspects, it would capture the fourth largest position in the oil shale reserves. The actual estimation highlights that the Jordan has reserved almost 90 to 100 billion of barrels of the unconventional oil. On the other hand, the total energy consumption depends on the importing services of the diesel and heavy fuels. The International Monetary Fund has informed that these import services are scaled up to $4.6 billion in the year of 2011. This ratio has been representing almost 25% of the entire GNP of Jordan (Josco.jo 2017). The numbers even started growing without making any significant changes in this field. However, this growth has imposed challenges in the economic structure of the company due to the high investment rates. Considering such challenges, JOSCO started planning to explore and develop the programs on the consecutive periods to run the commercial operati ons till the year of 2020 (Ceri-mines.org 2017). The main focus of the company was to assess the reservation of the Jordan Oil Shale. The use of the ICP technologies is introducing the different process of producing oil from the oil shale. It is noted that oil shale include the grains from different colours due to the mixed Kerogen. Kerogen is the organic material that includes fossil and it turns into the raw and crude natural oil and gas after pressuring and providing heat. The use of the ICP technology thus has the significant value in the commercial field. On the contrary, the information obtained from the secondary resources and the annual reports of the company are quite helpful in gathering the academic knowledge. The ICP techniques enhance the technological knowledge in a significant way. Hence, it can be inferred that the use of the ICP is both academically and commercially favourable. Formative Proposal Business innovation is the integral part of the organisational sustainability in this competitive scenario. In fact, innovation through the technology transfer is essential for ensuring business success, sustainability, growth, and competitiveness. The Jordan Oil Shale Company (JOSCO) is the independent subsidiary of Royal Dutch Shell Plc. The company is committed to undertake different business innovations and evaluate the business potentiality of the deep layers of Jordanian oil shale. The company strives to capture the position of forefront of the advanced technologies in the oil sectors. The company is focusing on managing innovation and technology transfer project by utilizing ICP technologies for transferring knowledge. JOSCO is focusing on using the novel technology termed as In-situ Conversion Process (ICP) that helps in producing oil through the heat in the oil shale (Josco.jo 2017). The major challenges are faced because the technology can use this method of producing oil w here the oil shale is thickest and richest. The limited usage of the operational activities will be troublesome in producing oil. On the other hand, it is even necessary to gain the adequate knowledge regarding the use of these technologies to extract oil from the oil shell. The insufficient knowledge may limit the technology transfer process. In order to achieve the learning outcomes, it is essential to collect the adequate information from the secondary sources. The annual report of the company and the useful resources related to the subject matter will be helpful for conducting the market research. The reflective commentary documents will be based on the understanding of the subject and the challenges associated with it. The presentation of the personal reflection will be helpful in overcoming these challenges. The concentration on the necessary implication will also be utilized to achieve the learning outcomes. Detailed Methodology and Analytical Approach The relevant methodological approaches are essential for conducting the market research and explaining the entire project method. It is necessary to adopt the right analytical approaches that are quite beneficial in understanding the underlying subject matter (Creswell 2013). The study is based on the detailed information about the innovation and technology transfer process in Jordan Oil Shale Company. The company is utilizing the ICP technology for producing oil in an innovative way. In order to explore the importance of such technology in commercial purposes, it is essential to gather the secondary resources for presenting the thematic analysis (Bryman and Bell 2015). The information gathered from the secondary sources is essential for understanding the detailed method of these technologies. Moreover, it provides the analysis of the innovation process that can be beneficial for achieving the sustainable approach of the company in the future prospects. The presentation of the theme based analysis depends on several methodological techniques. The research philosophy is categorized into three divisions, such as positivism, realism and interpretivism. The positivism and realism philosophy focus on the more analytical approaches gained through the observations (Gale et al. 2013). On the contrary, the interpretivism focuses on the new approaches by involving assumptions (Thanh and Thanh 2015). The study is widely focusing on the enriched knowledge about the technology transfer and the innovation process. Gathering the detailed knowledge about such advanced technologies will be analyzed in this study. Therefore, the use of interpretivism paradigm will be appropriate for the study. Research Approach is categorized into two major components, such as deductive and inductive approach. Deductive approach is generally based on testing the existing theory related to the subject matter. On the other hand, the Inductive approach formulates the new theory based on the collected data (Thanh and Thanh 2015). The technological innovation requires developing more knowledge depending on the extracted ideas from the collected data. Hence, in order to conduct the study, the use of the inductive approach will be justified. Research Design is another necessary form of methodology. Research Design is classified into three major divisions, such as exploratory, explanatory, and descriptive (Lutters 2014). The exploratory design is developed by gathering knowledge from the previous study and evaluating the information in the later investigation purposes. On the other hand, the explanatory design explains the underlying cause and effects related to the subject matter. Finally, the de scriptive design defines the characteristics of the population among which the study is conducted. The descriptive design is much helpful in understanding the in-depth knowledge about the subject matter and the detailed analysis of the key information (Cheong, Hallihan. and Shu 2014). Hence, it can be stated that the use of the descriptive design is quite appropriate to conduct the study. The theme based analysis will be presented in this study by measuring the variable and establishing the relations between the major variable. It is necessary to understand the major characteristics and the underlying concept of the study. The technological innovation itself contains the greater understanding of the knowledge. The collected information from the secondary sources will be divided into several themes for the analytical purposes (Gale et al. 2013). It is necessary to understand each of the themes that explain the necessary variable. Establishing the linking between these variables, it will be easier to understand the preferable recommendation for the proper utilization of this technological tool (Cheong, Hallihan. and Shu 2014). Hence, the thematic analysis of the theme-based methods will be beneficial to understand the use of this innovative technology. Reflective Documenting of the Challenges identified in the Project We are quite aware of the current development in the business industries. The drastic changes in the business environment are ensuring the different innovative processes with the advanced technologies. However, the project is about developing the ICP technology for Jordan Oil Shale Company. During the development of this project, I have faced some of the significant challenges in managing such advanced technologies. In this section of the study, I shall document the major challenges that I have faced during the project. The significant challenges faced during the project. The identified challenges are documented below: Lack of Clarification regarding the technology During the technological development, it is essential for all of us to derive the proper knowledge about the technology specification (Reinik et al. 2015). The advancements of the technological equipments and process are often leading us to much confusion. The development of the technology requires the full documentation about the requirements of the business innovations. The associated members need to get the proper skills in the technological development. The adequate knowledge regarding the technological development is necessary for every one of the team members. Moreover, while developing the technologies, I needed to understand the functionalities and the proper timeline to develop these technologies. In the oil shale company, we need to maintain the proper safety parameter to produce oil (Yo?ru?k, Trikkel and Kuusik 2016). It is essential for all of us to maintain the safety parameter for oil production. I needed the proper specification of the technologies and the method of ut ilizing these to develop the business innovation process. On the other hand, I have found out that the team members were unaware of the proper location where the technologies will be developed. In addition to this, the costs of developing such innovative tools were also uninformed (Azzam, Al-Ghazawi and Al-Otoom 2016). Hence, it was quite tough for the team members to understand the total budget of the technological development. The lack of clarification and transparency is quite hazardous for the project development process. Lack of Proper Knowledge The lack of proper knowledge and skills is another most challenging situation for me during this project. In the technical field, we need to gather the adequate ideas about the technological implementation process (Al-Gharabli, Azzam and Al-Addous 2015). While conducting this project, I have gathered the sufficient knowledge about the ICP technologies. The demonstration of how these technologies are used will be beneficial for them to utilize these in a proper way. It will be much fruitful for the project activities. Moreover, the team mates can even develop their technological skills through such training and development process (Alnawafleh, Al-Harahsheh and Al-Harahsheh 2016). However, while working with other team members, it was essential for me to help the other team mates in understanding the utilization of the proper technological process. During the project, I have noticed that some of the team mates have been facing the trouble in understanding this latest technology of prod ucing oil. In most of the cases, it has been noted that the frequent changes in the business process create the significant challenges for everyone. Especially, the technological advancements consider the huge knowledge about the technological assimilation (Puura et al. 2016). There are some of the challenges faced by the team members during the technological transfers. These challenges are listed below: The issues with the scalability Lack of proper reliability Lack of proper efficiency in resource recovery or energy use Inadequate water use Lack of proper protection of the groundwater Carbon emissions It is notable that the development of the ICP technologies in the oil shale company includes many of the stages through which the oil is produced (Al-Makhadmeh et al. 2013). However, improper knowledge regarding the technological innovation can lead towards the negative consequences. Therefore, it is essential for us to make the proper implications for resolving these specific challenges. Emergence of these challenges during the project can be sometimes dangerous for the associated team members as well. Challenges with the Security Another major and significant challenge faced during this project was the health safety and security of the team members. The ICP technologies are generally used to bring more innovations to produce oil in a large number (Sandberg, Thomas and Hale 2014). These equipments are needed to be handled cautiously. We have faced some of the significant challenges due to the improper security while the technologies were transferred. The lack of proper security affected the health of many of the team mates due to which the project was delayed for sometimes (Hao et al. 2014). The insecure and unhygienic environment affects the business much prominently. Some of the teammates were even injured due to the improper use of technologies. Therefore, it was essential for us to keep the concentration on these specific challenges. The above challenges are proved to be harmful for the associated team mates as well as the business project. It has been noted that the delays in the project create the negative impact on the clients mind (Pan et al. 2017). Moreover, it specifically affects the professional career of all of us. Being a project manager, it is my responsibility to propose some of the beneficial implications that will be helpful enough in conducting the project without hazards. On the other hand, it is also my responsibility to ensure the safety and security parameter of the team mates who are associated with such technology development process (Mangmeechai et al. 2014). The probable solutions for overcoming these challenges are explained further. Commercially Viable Solution to overcome these challenges It is essential to understand the severity of the problems to find out the solution. The identified problems in this technology innovation project are quite severe that have the chance to delay the projects (Meijssen, Emmen and Fowler 2014). Moreover, the improper utilization of the technologies can even lead towards the health hazards or accidents of the associated team members. Considering the identified problems, the following solutions are provided to mitigate or overcome these challenges. Establishments of the Communication Transparency It has been observed that sometimes, the lack of project specifications create much confusion among the associated people. The development of the technology requires the full documentation about the requirements of the business innovations. The associated members need to get the proper skills in the technological development. The adequate knowledge regarding the technological development is necessary for every one of the team members. Being a project manager, I need to ensure that all the important and necessary information will be documented in a project description file. The proper communication transparency would be helpful in making the people aware of the project necessity and the requirements of developing the technologies. The documented files will be sent to every team members through email or group discussion meeting. It is necessary to ensure that every team member has the documented file with them during the project period. It is necessary to develop the clear ideas about the project specification. In such cases, we can consult the expert who is knowledgeable about such technological innovation. In addition to this, the establishment of the proper communication transparency with the associated team mates will be much helpful for me to understand their concerns about the project. Accordingly, we can develop those areas to achieve the determined purposes. Structuring the Budget for the project It is my responsibility to gather the idea about the resources that will be invested for the equipments to technology innovation process. The structured budget of the necessary capital resources will be helpful in understanding the investment purposes. Accordingly, the investors and the organisation will help in investing more capitals on the required equipments for the project purposes. Along with such budget specifications, it is even necessary to provide the structured timeline to schedule the project activities. It will be easier to manage the time for the completion of the project. Training and Development Session Many challenges emerged due to the lack of knowledge in using these technologies. Being a project manager, it is my one of the primary responsibility to make the team mates knowledgeable about the use of technicalities. I can take the experts permission to gather knowledge about proper use of the ICP technologies and the expert can be involved to provide the training sessions to the associated team mates. The demonstration of how these technologies are used will be beneficial for them to utilize these in a proper way. while working with other team members, it was essential for me to help the other team mates in understanding the utilization of the proper technological process. It was also noticed that some of the team mates have been facing the trouble in understanding this latest technology of producing oil. In most of the cases, it has been noted that the frequent changes in the business process create the significant challenges for everyone. Especially, the technological advanceme nts consider the huge knowledge about the technological assimilation. It will be much fruitful for the project activities. Moreover, the team mates can even develop their technological skills through such training and development process. Promoting the OHS regulations Promoting the OHS regulations will be helpful enough in mitigating the issues with the accidental risks. The lack of proper security affected the health of many of the team mates due to which the project was delayed for sometimes. The insecure and unhygienic environment affects the business much prominently. The guidance provided in the OHS regulations is much significant in making the associated members aware of the safer approaches and proper cautions that are needed to be undertaken during the technological innovations. It reduces the health and accidental risks throughout the project activities. It is even one of the most significant processes of reducing the chances of oil spill or oil explosion. Conclusion The Jordan Oil Shale Company (JOSCO) is the independent subsidiary of Royal Dutch Shell Plc. The company is committed to undertake different business innovations and evaluate the business potentiality of the deep layers of Jordanian oil shale. The company strives to capture the position of forefront of the advanced technologies in the oil sectors. The company is focusing on managing innovation and technology transfer project by utilizing ICP technologies for transferring knowledge. The use of the secondary research method is helpful enough in establishing the theme based analysis that is dividing the themes as per the variables of the study. The challenges emerged due to the lack of knowledge, lack of security,, and lack of information. 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