Is the reason for lack of innovation really a ridiculous bonus system like someone said?
Or should the reasons for lack of innovation be sought elsewhere? I would like this to be a much more innovative company than it is.
5 replies (most recent on top)
SLB is buried in debt. That's why their stock is tanked by the market despite the upturn of Oil again.
Debt + Lack of fresh talent = No money and no talent to innovate.
What these guys are attempting to do for Industry 4.0 for example is laughable. They don't know what they don't know.
“I would like this to be a much more innovative company than it is.”
I am sorry but that ship has sailed. It will not be an innovative company because it cannot attract young employees who are full of ideas. Ask a recent college graduate if he would rather work SLB versus a tech company.
It has become too bureaucratic and the budget cuts and lack of recognition for researchers and engineers have destroyed innovation. The upper management does not care about innovation. It’s about money and trying to reduce the debt caused by the previous CEO.
Scroll down and you will see discussions of the reasons for the loss of innovation in Schlumberger.
Its true its the SLB abvance project system. The best and brightest in the company was given the task of looking into this. It was found that proposed advance projects cycle through on average every 5 years. Its the definition of stupidity . Fyi...The brightest moved on due to stagnation and check box environment around SLB.