History is littered with examples of brands that once dominated
their respective markets but, through a combination of lack of
innovation, inefficient execution and focusing internally instead
of on customers, have gone on to suffer a massive fall in market
share against rivals.
The lesson I wanted to convey to oil and gas businesses at the
recent Oil & Gas UK Breakfast on Vision 2035, was that
extrapolating the present – focussing on what you do now,
what has always worked - won't deliver for the future. For
large legacy companies that have evolved over many years it is
undoubtedly difficult to stay agile and adaptable, but it is key to
sustaining success and future growth.
An understanding of new markets, customers and technologies is
essential to maximising potential. This must be backed up with a
well-executed plan and an agile approach to capitalise on
opportunities and react swiftly to the needs of customers, by
executing on ideas and getting great products
