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The Global Big Oil on the Way to Business Model Innovation?

Author

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  • Alexey Bereznoy

    (National Research University Higher School of Economics)

Abstract

The paper explores the current changes in the global strategy of the elite of the international oil companies, the so-called supermajors, within the context of the potential business model innovation. The work aims to make two main contributions. First, by analyzing recent shifts in the world oil and gas industry and their implications from the perspective of changing supermajors’ market positions and economic power, this paper discloses the root causes of strategic moves undertaken by today's global «Big Oil» struggling with multiple competitive threats and simultaneously adjusting to the on-going industry transformation. Second, the work defines the core features of the supermajors' business model and examines whether the newly introduced strategy characteristics could be considered as business model innovation

Suggested Citation

  • Alexey Bereznoy, 2015. "The Global Big Oil on the Way to Business Model Innovation?," HSE Working papers WP BRP 40/STI/2015, National Research University Higher School of Economics.
    • Handle: RePEc:hig:wpaper:40sti2015
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    File URL: http://www.hse.ru/data/2015/06/03/1097472732/40STI2015.pdf
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    More about this item

    Keywords

    global oil and gas industry; International Oil Companies (IOCs); supermajors; National Oil Companies (NOCs); global competition; business model innovation.;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • L29 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Other
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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