Abstract
AbstractThis study examines the strategic investment and divestment decisions of fifteen Norwegian power companies that were made in response to an increasingly uncertain business environment. The ...
Highlights
The Norwegian hydropower industry has century-long experience supplying renewable, reliable, and inexpensive electricity
This study investigates if the sample companies have made directive decisions related to strategic renewal to respond to increasing environmental uncertainty
Real options theory has been used increasingly as a tool for analyzing and understanding strategic decision-making under uncertainty
Summary
The Norwegian hydropower industry has century-long experience supplying renewable, reliable, and inexpensive electricity. Conventional power production is only one part of what power companies must do today These companies need to both renew themselves and develop new business, as customer behavior changes and new technological solutions open new markets and intensify competition. These changes challenge an industry that was once fully regulated, in which companies operated locally, and where customers had no alternative suppliers. The demand for more renewable energy, digitalization, new customer requirements, and technological growth (for example, smart homes and the Internet of Things [Iot]) create uncertainty about the future business environment and about which strategies will lead to future success
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