Nobody downloaded yet

Product Innovation - Assignment Example

Comments (0) Cite this document
Summary
From this paper, it is clear that flanges are the most essential mechanical component or part that is being used exclusively in large numbers during a drilling process and even in the production phase of an oil and gas. This product innovation is majorly concerned with the product market…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.2% of users find it useful
Product Innovation
Read TextPreview

Extract of sample "Product Innovation"

Download file to see previous pages Producing oil and gas, which has become the major basic commodity of the modern world since all vehicles, transport and heavy machinery need this commodity to run their activities. Consequently, the production of oil and gas is continuous necessitating the presence of all types of equipment needed for production including the smaller fraction of it that is the assembly of flanges required in Christmas tree and wellhead pieces of equipment for controlling the flow of production from oil and gas well. (William C. Lyons & Gary J Plisga, 2005)
As for the potential in the global market is concerned, if only Saudia-Arab and Kuwait are considered then the official report of Organization of Petroleum Exporting Countries (2010-11) reveals the fact that there is huge declared potential still left in both the countries and it is well enumerated as 264.5 billion barrels in Saudia Arabia and 101.5 billion barrels in Kuwait alone in the year 2010. In the past 18 years, Saudia Arabia has only utilized 60 billion barrels and the report regarding Kuwait declared reserves is unchanged from the year 1991 to 2002. Therefore there is the huge amount of work that can be done to produce oil and gas. Definitely, there is huge capacity left for the servicing and manufacturing firms for the assembly of flanges.
Now in this mechanical assembly of flanges, it has two components with the related assembly; the product specification will spotlight for process and material selection for the manufacturing of the two products. These two components are flange and ring gasket. These are mechanically utilized in wellhead types of equipment. The sizes and dimensions are actually defined by the customer and the type and size of wellhead equipment used. This means that Exploration and Production Company will itself inform the product manufacturing firm of dimensioning requirements. Normally these requirements are governed by standard provided by American Petroleum Institute, the specification that covers the product. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Product Innovation Assignment Example | Topics and Well Written Essays - 2250 words, n.d.)
Product Innovation Assignment Example | Topics and Well Written Essays - 2250 words. Retrieved from https://studentshare.org/technology/1755242-product-innovation
(Product Innovation Assignment Example | Topics and Well Written Essays - 2250 Words)
Product Innovation Assignment Example | Topics and Well Written Essays - 2250 Words. https://studentshare.org/technology/1755242-product-innovation.
“Product Innovation Assignment Example | Topics and Well Written Essays - 2250 Words”, n.d. https://studentshare.org/technology/1755242-product-innovation.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Product Innovation

Product Innovation on Firm Performance

...?Running Head: PRODUCT INNOVATION AND FIRM PERFORMANCE Marketing    Topic: A Study of Product Innovation on Firm Performance Date of Presentation: Abstract This study applies the perspective of new product development, brand extension and organizational change to highlight the impact of product innovation on firm performance. The paper relies on earlier research that has been carried out relating to successful product innovation and the sources of innovation. The results of the study indicate that when firms decide to allocate resources to product...
11 Pages(2750 words)Research Paper

New product development and product innovation charter

...? New product development and product innovation charter Introduction New product development strategies are dependent on the product innovation charter. The fact is that a company cannot endeavor in developing a product before strategizing on the ongoing trends of consumer behaviors (Shavinina, 2003). Therefore, the vital approach to every new product development process is to master the ongoing tastes and preferences of the consumer. Thereafter, a company will have the ability to establish the product innovation charter in relation to its goods and the market....
10 Pages(2500 words)Essay

Product Innovation 1 : 103MED Re-sit Coursework - Summer 2011

...?Product Innovation Disc type brakes are widely employed in vehicles around the world. These systems are commonly available and are simple to dismount, disassemble, service and reinstall. A few basic components make up the entire system. Certain dimensions are critical to ensure that the disc brake system performs flawlessly. Product Market Dick brakes are utilised on nearly all modern vehicles of all sizes. The list of disk brake installations is huge including bicycles, motorcycles, cars, minivans, vans, trucks, jeeps, trains etc. Moreover disc brakes are also utilised on stationary applications such as gantry cranes, pulley based braking systems and the like. (Ganaway, 2002) Disc...
10 Pages(2500 words)Coursework

Product Innovation

...? Marketing Product Innovation In the past, numerous organizations whether small or large, have been surviving even with limited innovation and ideation capabilities. In recent world, there are trends that drive the process of innovation. Factors like outsourcing and globalization force organizations to exert efforts to improve it effectiveness ad efficiency (Yang & Tao, 2012: p. 319-331). An organization requires more than supplying good products for it to succeed. For instance, an industry require innovative management and processes that can assist it in improving productivity and cutting down operating costs. The work...
7 Pages(1750 words)Essay

Product Innovation Charter

...Product Innovation Charter Purpose This charter is the document for product innovation. This provides the process to innovate, design, develop, launch and maintain a new product in the toys industry. This would form the product innovation charter (PIC) for the product development work. Staged Development Process A staged development process is visualised for the PIC. The staged development work will involve describing the process at every stage and the meeting criteria that has to be met by the product before crossing over to the next stage. Every stage will have a...
8 Pages(2000 words)Assignment

Product Innovation and Pricing

...people with minimal knowledge of the subject. The price at less than $300 is attractive by market conditions. Here is a camera for the amateur photographer which is easy to carry and to use, with the potential to take sharp and good quality photographs with simplicity. The camera is clearly on the upper right quadrant of a VO Grid, and has the potential to participate aggressively in the emergent mass market for basic digital cameras for amateur use. The Canon Power Shot S3 is a study in contrast with the earlier model. It meets the special needs of photography enthusiasts and professionals who may wish to take sharp photographs of objects and people at long distances. The technical features and capabilities of this...
4 Pages(1000 words)Essay

Design and Sustainability '' Product Innovation ''

...Design and Sustainability Product Innovation Design and Sustainability Product Innovation The outboard power units mechanical function The outboard power unit contains power tilts and trim units. This is a component in mechanical engineering that can be used to break or regulate electrical currents. This helps in curbing interruption of the current or redirecting it from one conductor to another. The outboard power unit aids homes in directing the required current. The power tilts and trims are driven by electro-hydraulic mechanisms with the power of a motor-driven pump that provides the hydraulic pressure. The outboard machine contains an actively charged trim function that secures the running. The tilt function is useful... of the...
6 Pages(1500 words)Coursework

Toyota Prius: The Power of Excellence in Product Innovation and Marketing

...Toyota Prius: The Power of Excellence in Product Innovation and Marketing 1. In what stage of the product life cycle is the Toyota Prius? Explain. Since its initial launching in 1997, Toyota Prius is currently in its 16 year of manufacturing process and could evidently be in the growth state of its product life cycle. As case facts revealed, only during the introduction and marketing of Prius in the United States starting in 2000 that the product started to peak in demand and sales. As such, in 2004, it was noted that the second-generation Prius actually generated awards for Toyota. The fact that its success opened more opportunities for Toyota to...
1 Pages(250 words)Assignment

LLB/ new service product innovation

...and decision-making process but also can be employed in getting information and improving effectiveness in business operations. Web 2.0 based service developments provide platforms for collaboration, interaction and exploiting customer intelligence for gathering, sharing and evaluating new ideas. They are also tools for motivating and instilling brainstorming sessions for idea generation (Rowley, Teahan and Leeming, 2007). The level and type of Web 2.0 exploitation can lead to a shift from designing for customers to developing with and by clients. Critical analysis Firstly, a major strength of the text is in the author’s argument on the need for integration of web 2.0 technology in order to spur innovation. This holds...
6 Pages(1500 words)Essay

Product Innovation Management

...Question Solution: Rational Plans: the rational plan perspective basically deals with three aspects of product planning. These three legs of the rational plans consists of the careful planning to launch a product for lucrative market, team based approach to execute these plans with the blessings of the senior management. The key feature of this approach of the production innovation management is the fact that the success is achieved through superior product planning with the help of cross functional teams. Through rational planning, product advantage is achieved through concentrating on the core competencies of the firm. Methods used for...
7 Pages(1750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Product Innovation for FREE!

Contact Us