Emerging Themes Assignment
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Added on 2020-04-21
Emerging Themes Assignment
Added on 2020-04-21
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Running head: EMERGING THEMESEmerging ThemesName of StudentName of the UniversityAuthor Note
1EMERGING THEMESIntroductionThe business environment is undergoing radical changes in the past few years so that theycan be ahead of the competitive advantage (Pettigrew 2014). The managers need to be aware ofthe emerging trends in the external environment of the firm so that they can formulate robustbusiness strategies for the organization. There are a number of several factors such as political,social, economic and technological which affects the decision-making pattern in the organization(Karimi and Walter 2015). There have been huge changes in the technological framework acrossall industries, including the oil and gas industry.The selected article is “Industry Not Yet Using Digital for Disruptive Change” and thecurrent impact would be assessed (Spe.org 2017). A critical analysis would be done on the basedon how the identified factors would impact the society over the next five years. The effect ofthese factors on the formulation of the business strategy would be determined.DiscussionThe key theme identified in the given business article is digital disruption. Thephenomenon of digital disruption can be defined as the change process that occurs when there isan intervention of the digital technologies which would affect the value proposition of theexisting goods as well as services (Pettigrew 2014). The rapid explosion of the mobile deviceshas referred to an increase in the consumerism of IT, which has increased the potential for thevarious aspects of the digital disruption. The new technologies have the capability oftransforming the current market and impact the present services or products of the company(Pettigrew 2014). The act of digital disruption also focuses on the changes in the consumer needsand keeping the existing customers happy by giving them the things that they need. There is
2EMERGING THEMESsignificant difference between digital disruption and disruptive technology (Pettigrew 2014). Thedigital disruption is concerned with an obstacle caused by the technological evolution whichaffects particular types of businesses (McQuivey 2013). On the other hand, the disruptivetechnology is concerned with the complete revolutionary technology which transforms the waypeople engage in work (Pettigrew 2014). The companies are increasingly adopting newtechnologies in their organizations and they are leveraging their expertise as well as digitalinnovation so that they can have their businesses growing. There has been growing number of digital transformation in the oil and gas industry.The Oil and Gas companies are increasingly using the digital technologies to understand theproduction potential of a reservoir or other resource (Karimi and Walter 2015). These companiesalso leverage a wide range of technological advancements for the improvement of the marginalefficiencies of the oil fields (Raymond and Leffler 2017). The digital transformation of the oiland gas industry has an enormous potential to create approximately $1 trillion value for the firmsin this sector. There are various purposes that are used to deploy technologies in oil and gassectors. They are the creation of savings of customers, improvements in the productivity, and thereduction of water usage (Raymond and Leffler 2017). The technology is also important forlowering of the emissions, which is an important criterion in the oil and gas sector (Raymondand Leffler 2017). The rapid advancement in the technological framework has led to greaterprocess control such as surveillance, mobility, storage technologies, connectivity and others(Crompton 2015). The oil and gas companies are able to process and analyze data with the helpof digital disruption. The technologies also help in the enhancement of agility as well as supportreal-time decision making activity (Henriette, Feki and Boughzala 2015).
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