Leaders of oilfield service companies must consider how to best position their business to cope with the inherent volatility of the oil and gas sector. In this series, our experts share their perspectives and explain how a resilient operating model can help oilfield service companies survive and win in challenging environments.
Develop Sustainable Strategy
Oilfield Service companies that continue to find success in both prosperous and turbulent times have these things in common…
Adapt to Win
Whether trying to grow during an upturn or preserving cash and core competencies during a downturn, winning Oilfield Service companies have learned that speed and cohesion are of the essence.
Foster Innovation
Innovation requires valuable capital – – Oilfield Service companies must balance the technology development portfolio and ensure there is a clear plan to invest in innovation that is aligned with business strategy.
Manage Costs
In today’s environment, cost management and cost saving are two sides of the same challenge that the oil and gas industry faces over and over again. The overall objective is to weather each successive, up- or down-cycle and emerge on the other side with a better and more resilient business.
Create Change that Lasts
Oilfield Service companies that build resilience into their operating model are able to manage change with alacrity and with the full support of the entire organization. Change leaders differentiate themselves by…
Build Resilience
Business resiliency begins and ends with strategy. Leaders in the oilfield are optimistic by nature. “Tomorrow will be better than today,” and “demand will come back, eventually.” However, business strategy must acknowledge that boom and bust cycles in the sector are as much tradition, as they are fact. Leaders should consider how to best position the business to cope with the inherent volatility of the industry.