Thursday 6 February 2020

How is Your Brand Performing in a Tough Economy

Calgary, Alberta, Centre of Canada's Oil Industry  

Written by Robyn T. Braley

When economies are threatened by political turbulence, international trade uncertainty, natural disasters or the threat of war, it's time to assess the strength of your brand.

Canada has been impacted by challenges in our petroleum industry which drives our national economy. Government, industry and climate change interest groups can't seem to find a compromise that will allow all parties to move forward for the common good.

Many companies will make it through this time. They will adapt, adjust and carefully manage their operations as they find ways to survive.

Others will not be so lucky. A client operating in the petroleum industry manufactured processing equipment valued at $5,000,000 per unit.

When the oil industry collapsed it happened in a hurry. They failed to find new markets for existing products and could not retool to make new products quickly enough. They were forced into receivership.

A client in commercial construction offers new construction and maintenance services for older high-rise buildings. When the economy sucks, their new construction business dives while their maintenance division soars. Owners of large buildings cannot afford to put off maintenance.