APPLIES TO ACADEMIC YEAR 2016/2017

GRA 8509 Forecasts & Future of The Energy Sector - Impact on Business & Management

Responsible for the course
Jon Lereim

Department
Department of Communication and Culture

Term
According to study plan

ECTS Credits
5

Language of instruction
English

Introduction
This course is part of the Executive Master of Management in Energy in cooperation with BI Norwegian Business School and IFP School.

Shaping the future of the energy sector is a particularly challenging task.

It comprises the understanding of the socio economic trends, the market and business transformations from the impact of the digital revolution, the business organizational and operational changes in light of the digital characteristics and features and how complex & large energy projects are to be managed and executed in an international global environment.

This course in module 5 sets the business direction necessary for shaping the future in the energy sector

Learning outcome
The course focuses on forecasts & future of the energy sector - Impact on business & management, from an overall socio economic perspective through to business specific strategies and operational issues.
The course outcome provides you with facts and analyses that makes you qualified to contribute to shaping the future in the energy industry, including a thorough understanding of the impact of the digital transformation on new business models, new market patterns and new ways of organizing and collaborating in the industries for electricity, oil & gas.

Acquired Knowledge
This course provides you with,
· Basic knowledge of the impact of the likely socio economic trends and directions in the future on the energy sector and its constraints
· Basic knowledge in new business models and the impact of enhanced consumer power on the market arenas in energy, including the green transformation
· Knowledge of impact of the key digital instruments and capabilities of the strategic and operational issues
· Enhanced knowledge on how to master global and complex energy projects including the supply chain issues in the projects.

Skills
Skills developed upon completion of the course include the abilities to,
· Analyse and model the likely business environment of the future within the energy sector
· Design and plan the use of digital capabilities in the energy industry
· Identify and manage the key issues in planning and execution of global and large energy projects
Reflection

Reflection goals cover such as,
· The participants will acquire insights and perspectives on socio economic trends and their likely impact on the business environment of the energy sector including the demand for a green transformation
· The participant will achieve an understanding on the importance of the digital revolution and how it affects the ways of organizing and managing the business and operations in the energy sector in the future.

Prerequisites
Granted admission to the Executive Master of Management in Energy programme.

Compulsory reading
Books:
Andrew Inkpen and Michael Moffett. 2011. The global Oil & Gas Industry – management, strategy and finance. Penn Well Corp. Publ
Clayton M. Christensen. 2015. The innovators dilemma; when new technologies cause great firms to fail. Harvard Business Review Press. Chr. 1- 4
David Jacoby. 2012. Optimal Supply Chain management in Oil, Gas and Power generation. Penn Well Publishing Corp.. Part 1
David Lowe and Roine Leiringer. Commercial management of projects- defining the discipline. latest editio. Blackwell Publishing. chapters 2, 4, 10, 13, 15, 16, 17
Gianna Bern. 2011. Investing in Energy – a primer on the economics of the energy industry. Bloomberg Press/ Wiley
James Stock and mark W. Watson. 2014. Introduction to Econometrics. Update and global edition. Pearson Publ
John Gamble et al. 2010. ssentials of Strategic management- The quest for competitive advantage. Harvard Business review Press. 2nd edition. McGraw Hill Higher Education

Recommended reading
Books:
Hilde C. Bjørnland and Leif Thorsrud. 2015. Applied Time Series for macroeconomics. 2nd edition. Gyldendal akademisk. selected chapters

Other:
A selected set of publications at Conferences and in Scientific Journals with latest updates on trends and impact of the digital technology on strategic management, value generation and value control through value networks and value shops, as well as on operations.


Course outline
Key topics are in this course:
· The characteristics of the socio economic development and trends and how it impacts the energy business, in electricity as well as in oil & gas
· Likely developments and trends in strategy & business clusters in the energy sector
· Identification of likely elements providing competitive advantages
· Understanding of new business models, the impact of increased consumer power and how to cope with the fundamental transformation from a traditional one-dimensional value chain perspective towards a consumer and service oriented value creation in value networks and value shops
· The opportunities of fully utilizing the digital revolution in strategic and operational issues within the electricity, oil & gas industries
· The importance of the demand for a green transformation in energy sector of the future
· The future on how to manage, plan and execute global complex and capital intensive projects including the complexity of the supply chain management in oil, gas and power generation

Computer-based tools
It's Learning

Learning process and workload
1 ECTS credit corresponds to a workload of 26-30 hours.

Attendance to all sessions in the course is compulsory. If you have to miss part(s) of the course you must ask in advance for leave of absence. More than 25% absence in a course will require retaking the entire course. It's the student's own responsibility to obtain any information provided in class that is not included on the course homepage/ It's learning or other course materials.

Sessions include lectures, seminars and group work.

Examination
The students are evaluated through an individual 72 hours home exam, counting for 5 credits.

Specific information regarding student evaluation beyond the information given in the course description will be provided in class.
Examination code(s)
GRA 85091 - Home exam; counts for 100% to pass the course GRA 8509; 5 credits.

The course is a part of a full Executive Master of Management in Energy (EMME) and examination in all courses must be passed in order to obtain a certificate.

Examination support materials


Re-sit examination
Re-takes are only possible at the next time a course will be held. When course evaluation consists of class participation or continuous assessment, the whole course must be re-evaluated when a student wants to retake a exam. Retake examinations entail an extra examination fee.

Additional information