The art of adaptability
Dominic Ferry, CEO at Westwood Global Energy Group
Adaptability: “being able to adjust to new conditions or purpose with ease”. This quality is not only required, but due to the pandemic is essential in the rapidly changing market that we find ourselves in today.
Adaptability is in our DNA – whether that’s flexing to client needs or understanding market circumstances – and it is what I believe has led Westwood Global Energy Group to where we are today. When I think back to early January, we were using our ability and insights to define how we would operate over these coming months. We already had contingency plans for remote working in place when the virus starting impacting daily lives of our team in Asia. That meant we were swiftly able to ensure the safety of our teams by seamlessly transitioning to working from home. At the same time, we proactively audited and refined our wider global business continuity plans. This laid a solid foundation for how we operated as COVID-19 rippled across the globe – we were a step ahead of the curve.
The flexibility and openness embedded in our culture offered our leadership team insight into how the evolving situation was impacting everyone. Experience taught me that being on the front foot with how you engage and care for your staff is vital. In 2004, my office was adjacent to the Australian Embassy building in Jakarta when it was car bombed. In that moment, well prepared plans allowed for the cascade of information and protection for our team. After the immediate event had passed, I saw how the pastoral care we provided for staff created a positive environment that could bind a team together. This critical experience was applied to how we moved forward as one at Westwood.
This situation taught me just how impactful any uncontrollable event can be on how a team operates. But by empowering our staff to deliver remotely whilst providing transparency, we created an environment of productivity and authenticity. From daily check–ins to weekly CEO updates, our teams were heard, understood, and kept abreast of what is, and will continue to be, a rapidly changing situation. And together everyone created their own new traditions from virtual drinks to catch up coffees – it’s the little things that create a sense of normalcy.
This has meant we can continue to commit to delivering world-class data and insights to our clients. In this period of uncertainty, timely and relevant data has never been more important. The power of insight and data is vital. So, we’ve sustained investment into our solutions – including new product launches and our access to our analysts has never been more valued. Our unwavering focus on delivery and flexibility has meant that clients remain engaged and this provides a strong foundation for future growth. In a period of such uncertainty, feedback like the below from one of the major OFS players strengthens my resolve to push our team forward:
“We sincerely appreciate your flexibility during this current crisis. It proves to us that your focus lies with your clients and due to this we would like to create a case to renew.”
This makes me incredibly proud of the team and serves as a powerful reminder to stay on the front foot and move towards clients and listen to and understand their needs. During this period, we’ve also kept the market informed– we’ve increased our editorial output, created a series of free webinars and continued to connect with the media. As a business, our strength lies in our specialism and we have provided deep insights into core areas of the energy value chain to ensure that we are supporting our clients and prospects to identify where their business opportunity now exists. I truly believe that there is opportunity in every situation – you just need to know where to look – and the insights we offer clients allows them to do just that.
So, as I look forward, I am positive, motivated, and proud. Proud of our team and the way we have navigated uncertainty with one eye firmly on the future. The world class people and data we have underpins how and why we have come this far and where we can go to next – our teams proactivity, authenticity and flexibility is steering Westwood through these challenging times.
Success in this environment is not down to luck – it is built on dynamism and a healthy appetite for knowledge and insight. Adaptability will be the differentiator between those who survive and thrive, and those who fall behind.