Write a 8 pages paper on creativity and innovation of saudi aramco. One such business whose activities have an impact on the lives of people around the globe on daily basis is Saudi Aramco (Saudi Arabian Oil Company). in a time span of 60 years, this renowned company has evolved from just a minute American initiated venture based in Saudi Arabia into a full-fledged company with extensive operational scale- from joint venture refineries to completely owned marketing and sales offices situated in North America, Europe, and Asia. Set up with a commercial intention, and the mission of converting a small venture into an international business dealing in all sorts of oil-industry related activities, Saudi Aramco established itself into the world’s largest vertically integrated energy unit. The success of Saudi Aramco rests on the proper utilization of the creativity tools which have marshaled it into the right direction, for these tools give birth to creativity, and result in the value-added to its products or processes, thus the correct identification of all those factors which can add value, are creative and above all signify a difference, are creativity tools. Saudi Aramco relies on innovation management and its cultural organization as a measure to creatively differentiate itself from other businesses and to carve out its unique place in the oil market.
Saudi Aramco is very skeptic towards the idea of taking risks, they consider whether the risk involved would provide a sufficient level of profits, i.e. if their Board of Directors deem it to be feasible, then they undertake it, such as when the Board of Directors of Saudi Aramco rejected the proposal to extend the reach of the new trading unit to be allowed to sale 25 percent of refined products. This attitude defines a closed atmosphere, wherein individuals are not highly encouraged to take huge risks. they walk on conventional lines and strategies. Their increased dependence on the King of Saudi Arabia for permission regarding any decision also adds to confining the authority of the employees within an extremely closed culture. . .