The BG Group harnesses creativity to enhance the quality of its solutions
The Group promotes the concept of collective intelligence, where all employees are encouraged to contribute to the innovation process by expressing their ideas, no matter how unconventional they may appear to be! As such, creativity is woven into the fabric of our business model.
A company’s capacity to innovate is directly linked to its ability to adapt to changes, and is therefore essential to its long-term viability. Whether these changes are the result of market requirements, developments within the Company or even technological advances, they materialise on a daily basis. Based on an approach of structured innovation, the BG Group fosters a culture of innovation with a view to adapting to changes.
The BG Group has set up an innovation fund to finance projects which develop products and services tailored to the specific needs of our customers, and to finance initiatives devised to improve our internal processes so that we are in a position to enhance the quality of the solutions we make available to our customers.
We love the problem! A ``design thinking`` approach in uncertain times
There is a big difference between submitting a bid as part of a tender and undertaking an innovation project. For one, the identity of the client and their specific requirements are set out in the tender. This is not the case in innovation projects which tend to be characterised by multiple unknown factors.
The Group’s innovation process, underpinned by “design thinking” methods in a bid to reduce the risk of failure, places an emphasis on three criteria:
- Desirability: is the product under development desirable? Is it being developed in response to a specific problem?
- Viability: are customers prepared to pay for the proposed solution? Business model: on what business model should the project be based?
- Feasibility: can my product be effectively developed and, if so, under what conditions?
On the basis of this method, it is possible to guarantee turnaround times and promptly compare ideas with the market so that product development can, if necessary, be adjusted. The process is always flexible, iterative and conducive to all potential forms of cooperation.
Embracing the unknown, silo-busting, daring to work with others: open innovation
The BG Group is also keen to enhance innovation by breaking down the silo mentality. This approach is about unlocking innovative potential and embracing the ideas of other organisations, for instance by taking part in hackathons or forging partnerships with schools, universities and startups. By developing closer relations with research and academic institutions, BG is also able to keep abreast of all the latest innovations and developments.
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