Management

Strategic Management in Emerging Industries: Evidence from the Renewable Energy Industry

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The challenges that complicate strategic management in emerging industries, like the renewable energy industry, motivate this dissertation. In particular, difficulties stemming from the industrial context, from environmental uncertainty, and from manager-stakeholder interactions are discussed. The most prominent environmental hurdles are thereby to be found in the areas of regulation, technology and economics. Overall, facilitating strategic management in the renewable energy industry is crucial, because the sector‟s further evolvement is essential for an effective energy system transformation.
Based on theoretical reasoning and empirical analyses I find that strategic management in emerging industries, and particularly in the renewable energy industry, requires a high awareness of contextual constraints. The main implications for managers, investors, and policy makers are the following: Strategic decisions need to be thoroughly aligned with stakeholders to ensure implementation and to create competitive advantage. In addition, this thesis helps investors in their assessment of investment targets in the renewable energy industry and helps managers to better understand investor perceptions. The findings from this dissertation should, moreover,
encourage policy makers to increase their awareness for the influencing power they have in shaping the decision environment and in interacting with managers.
This thesis starts with a review of strategic management in emerging industries and develops a research framework from the „strategy as practice‟ perspective. After the identification of current research gaps three individual papers scrutinize questions related to success factors and obstacles when operating in emerging industries. By looking at different firms along the energy system value chain, the papers discuss the following three topics in detail: The first paper assesses the role of status-quo biases of directors for strategic renewal in the Swiss utility sector. The second paper looks at performance implications of business model consistency in the wind and solar sector across the value chain. The third paper analyzes investor reactions to diversification decisions by multi-technology firms into the renewable energy industry. Within each paper implications for research and practice are identified. Aggregated conclusions are drawn at the end of this dissertation.

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Series Title

Strategic Management in Emerging Industries: Evidence from the Renewable Energy Industry

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Publisher

: ., 2013

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Language

English

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NONE

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Subject(s)

strategic Management

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