Forget the new normal. Today’s economy — and the world in general, for that matter — seemingly cycles through a new normal every few years or even months. Businesses and other organizations can feel like they are lurching from one challenge to another.
“Everybody seems to require new business models, particularly coming out of the pandemic,” says Kristine Neil, principal at Calgary-based Stone-Olafson, a private research and consulting firm.
“Inflation, supply channel issues and workplace cultures have all affected how organizations conduct business.”
Organizations are indeed feeling off-kilter, struggling with identity, market relevance and fluid economic and social dynamics.
“Businesses need help to rethink a much clearer path to be relevant,” Neil says.
That’s where Stone-Olafson has been helping clients — from large energy firms to automakers, retail, tourism and health companies working on the next big breakthrough.
“Our team really is always current with the newest trends and shifts across various industries,” says Juleigh Giberson, lead research analyst at Stone-Olafson. “In turn, we often can see changes and innovations before our clients do.”
Key to its prowess is providing that high-elevation view to clients.
“Companies have no shortage of data, but knowing how to use it to find viable solutions to their challenges is where they are struggling,” Neil adds.
Stone-Olafson develops a narrative from data that helps clients better serve customers who are increasingly demanding customized products and services.
“Energy companies, for example, are having to look at bespoke solutions for every market they’re in,” says Neil.
ESG (environmental, social and governance) requirements are another continuously evolving area that requires context, understanding and a specific approach that makes the most sense for the organization.
“Clients are having to approach their business from entirely new perspectives in some cases,” Giberson says.
It’s not just oil and gas; every organization is feeling the impact.
Stone-Olafson offers clients not only the insights to better grasp this new economy, where each client has its own unique needs, but the consultancy firm also gives them a playbook to help seize the opportunity that change presents.
“Part of that is helping clients showcase their unique impact on their communities,” Giberson explains.
Indeed, Stone-Olafson walks its own talk.
“Our makeup — private, independent, Alberta ownership — affords us the ability to give clients what they really need rather than selling an off-the-shelf research product,” Neil says. “We always say to clients, ‘Your solution is the outcome,’ and that is always unique to what they need.’ ”
This story was created by Content Works, Postmedia’s commercial content division, on behalf of Calgary Economic Development.