Can innovative thinking get ahead of the volatile energy market?
EQT, a leading energy provider, worked with Doblin to establish internal innovation practices that helped the company weather turbulent market changes.
The energy industry is in constant oscillation. It moves back and forth between boom and bust, security and risk. Energy providers face the challenge of moving forward, being flexible, and staying strong amid the shifting terrain. We gave EQT the tools to do this and chart its future.
EQT’s leadership realized that growth would not be sustainable if they didn’t make the company more nimble and progressive. This team worked with Doblin to design a strategic plan and change program that would drive innovation at all levels of the company, accelerate ingenuity and empower behavioral change.
Our client took advantage of prosperous conditions to leverage a position of strength rooted in creative thinking and innovation. Our plan focused on innovation ambition alignment, creating a new innovation organization and governance model, and designing an innovation development process. As part of the effort, we also ran a company-wide innovation challenge to crowdsource ideas across the organization. Employees were assisted through a number of support resources that helped them learn how to innovate more effectively—from new channels that broke through traditional silos to facilitate collaboration across business units, to open house advising sessions with trained innovation coaches. EQT’s leadership demonstrated their commitment to change by jointly evaluating all submissions and devoting real resources to turn winning ideas into reality.
When the sudden plunge in oil and gas prices hit the energy industry in the second half of 2014, EQT was prepared. Thanks to their innovation efforts, they stayed strong while many peers reeled with downturn. Many of the concepts submitted by employees have reached advanced stages of development. Some have already generated millions in savings through operational efficiency. Others have enabled the business to overcome inertia in tackling more complex issues. The cultural change campaign we helped initiate is continuing through ongoing innovation challenges, demonstrating dramatic and sustainable. organizational transformation.
This program showed employees how serious leaders are about innovation and accelerated commitment to solving some of their gnarlier challenges.
Over 450 idea submissions since program inception
Trained over 400 employees on innovation fundamentals
64 ideas flowing through the innovation process
Designated 20 client team members as innovation coaches