|Calgary, Alberta, Centre of Canada's Oil Industry|
Written by Robyn T. Braley
When economies are threatened by domestic politics, international trade uncertainty, unexpected natural disasters or the threat of war, it's time to assess the strength of your brand.
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.
Another client in commercial construction offers new building and maintenance services. When the economy sucks, their new construction business dives while their maintenance division soars. Owners of large buildings cannot afford to put off maintenance.