Project Management Institute

Crude Awakening

When the Business Environment Changes Suddenly, a Rapid Reassessment of Strategy Is in Order

After global crude oil prices dropped precipitously between 2014 and 2016, Nigeria's economy slipped into recession. At Cakasa, where we earn revenue primarily by executing projects for major oil- and gas-producing companies like Shell, ExxonMobil and Chevron, the impact of the price drop was swift and profound. So we re-evaluated our strategy and operations to both ensure the organization's survival and position it for post-recession growth.
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