Year: 2025 | Month: January | Volume: 12 | Issue: 1 | Pages: 713-722
DOI: https://doi.org/10.52403/ijrr.20250178
Future-Proofing Tech and Energy Organizations: The Strategic Role of Competence and Quality in Driving Innovation and Overcoming Failures
Shashank Sawant1
1Baker Hughes, Tomball, Texas: 77375
Corresponding Author: Shashank Sawant
ABSTRACT
The Oil and Gas Industry (OGI) plays a vital role in sustaining a strong national economy, with its efficiency and competitiveness heavily shaped by the adoption of innovative technologies. Thus, the strategic role of competence and quality in driving innovation within the OGI is explored in this study. A quantitative approach is undertaken, and data is obtained from 260 middle- and senior-level executives spread across 15 registered and operational Oil and Gas (O&G) companies in the United Kingdom. To explore the relationship between innovation capabilities and performance outcomes, correlation, and Regression Analysis (RA) are undertaken. As per the findings, competence, particularly through structured feedback mechanisms and failure analysis, has a significant positive relationship with the quality of output performance. Also, in mitigating innovation failures and improving subsequent innovations, the structured feedback mechanisms are the most influential factors. As per the findings, developing innovation competencies enhances performance and sustainability in the O&G sector.
Keywords: Innovation, Failures, Competitiveness, Quality, Oil and Gas industry.
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