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Adapting to a changing market: a business’s midlife shift in the Calgary market
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According to the U.S. Bureau of Labor Statistics; “about 50% of all new businesses survive 5 years or more, and about one-third survive 10-years or more.” Navigating the economic landscape is not an easy task for any business, even more so when your core business lies in the volatile industry of oil and gas exploration. The oil and gas industry fluctuates greatly on its own and when the market becomes oversaturated with the product, there is no need to invest greatly in exploration, so allocation of capital to this segment is restricted at the first signs of slowdown. Keeping in mind the volatility, this industry is very lucrative when oil and gas prices are high and exploration becomes a focus for most companies. With oil prices currently stabilizing after a major recession and economists predicting modest prices for the near future, most companies are expected to focus on process improvement and maximizing their return on their current assets as opposed to building more assets. The focus of this thesis will be on the company Seisware, which is a geophysical exploration software company based out of Canada’s major oil and gas market of Calgary, Alberta. With all of the changes in this industry in the recent years, major boom followed by a major downturn and finally what seems to be stabilization, how does Seisware continue to grow and maintain profitability in the future?
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Business strategy