When the oil price dropped in 2014 it created a dramatically new, and more challenging environment for energy related businesses, requiring new ways of operating.
Those strong and adaptable enough to survive have experienced a paradigm shift in how they must execute their businesses, if they are to be resilient to future oil price fluctuations and other market disruptions.
Changes are occurring everywhere that need to be effectively managed. Business models and project execution strategies across energy and other markets, have shifted towards scope collaboration and risk sharing. At the same time, an emphasis on lower costs has now been joined by a demand for demonstrable efficiency and value.
More than ever, companies require clearly defined strategic business plans, including effective sales and marketing processes, together with sustainable infrastructure and resource management. They also need to be willing to work collaboratively in new ways with peers, suppliers and customers, if they are going to successfully and profitably deliver their products and services to market.
To survive under these newly tightened rules, businesses are seeking access to more practical consultancy solutions and efficient subject matter support. A third category in consulting has evolved and gathers pace, offering firms a more integrated and productive vehicle to engage outside support.