The master thesis “The Application of Open Strategy Tools in the Energy and Utilities Industry” examines how existing Open Strategy tools can be applied by companies in the energy and utilities industry. Here is the abstract:
This thesis aims at identifying Open Strategy tools and their potential application along a best-in-class strategy process. The focus hereby lies on the Energy and Utilities (E&U) industry in Austria and Germany, which is significantly characterized by heavy governmental influence and outside pressure to strengthen the investment in renewables. Additionally, despite offering a fairly standard commodity, market disruptions are on the rise and organizations are required to remain agile and adapt quickly to new changes in policy and innovation. This research builds on the analysis of academic literature and grey literature, supported by semi-structured interviews with industry experts. In order to assess the value and applicability of Open Strategy tools identified, the internal and external stakeholder environment was assessed, a best-in-class strategy process for the E&U industry was created and subsequently Open Strategy tools were mapped along this process. This allowed the creation of an Open Strategy tool framework that can be applied in practice in the Energy and Utilities industry. The findings show a clear need for organizations in E&U to open their strategy process and follow a more inclusive approach towards inside stakeholders and be more transparent to outside stakeholders. Only when this is satisfied, a company can be confident about navigating in such a turbulent market that will experience great changes in the near future.