The leadership challenge in every sector is to think systematically about the future opportunities and threats and how their companies need to be reinvented to be relevant. The energy sector is no exception. The need to produce energy that is sustainable, secure and affordable is pushing the industry to find 20 to 30 percent more energy and from a significantly different mix of sources.
In a recent webinar, Venkat Venkataraman, a David J. McGrath Jr. Professor in Management at Boston University Questrom School of Business, and Arno van den Haak, Head Worldwide Business Development at AWS Energy, talked about exactly that. The pair, authors of the e-book “Pathways and Principles for Energy Transformation,” aimed to help customers with their digital transformation efforts.
How the energy sector does this will have an impact on every other sector of the global economy and on how individuals live, work and play in the near future. The energy sector can only reach its full potential when all companies—small and large, local and global—commit to using digital technologies to innovate and reinvent their businesses and the industry as a whole. To ensure that transformation occurs in a logical and coordinated way, the authors suggest a set of pathways and principles for success.
They also discussed The Industry Transformation Matrix, which provides a framework to help coordinate transformation efforts across four interrelated mandates. Together with eight principles, they guide the digital transformation journey.