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Scenario analysis for strategy design: a case study of the Colombian electricity industry

Scenario analysis for strategy design: a case study of the Colombian electricity industry
Scenario analysis for strategy design: a case study of the Colombian electricity industry
The technology transformation of the power industry is crucial for electricity companies, which need to be prepared for the transition of their traditional business. Using scenario-planning exercises, combined with SWOT and PESTEL analysis, as well as a systems thinking approach, this paper explores potential strategies for electricity companies to grasp the opportunities and offset threats, by focusing on the formulation process for a broad, innovative strategy for the transition in the power business. The paper concludes that the transformation of the Colombian energy industry poses serious challenges to electricity companies when policy and regulation promote the adoption of non-conventional energy sources, at a time when the cost of renewables keep declining; however, with a robust adaptive strategy, companies could better face the transition from current business to new alternatives.
2211-467X
57-68
Quiceno, Grace
3acf9e96-d315-4b81-9b03-82870e852f33
Álvarez, Claudia
2a55f119-1f35-47fa-b8be-f515863b3ee6
Ávila, Raúl
06d796b0-5459-4358-8f4c-982e3992b39c
Fernández, Óscar
59d0c9ab-f4c2-4e33-bf36-b6dffb87c42a
Franco, Carlos Jaime
ce37003e-5a3f-4ea2-8ced-8d9937f8dd71
Kunc, Martin
0b254052-f9f5-49f9-ac0b-148c257ba412
Dyner, Isaac
64103655-2a25-4080-bf5b-5afd4e48205b
Quiceno, Grace
3acf9e96-d315-4b81-9b03-82870e852f33
Álvarez, Claudia
2a55f119-1f35-47fa-b8be-f515863b3ee6
Ávila, Raúl
06d796b0-5459-4358-8f4c-982e3992b39c
Fernández, Óscar
59d0c9ab-f4c2-4e33-bf36-b6dffb87c42a
Franco, Carlos Jaime
ce37003e-5a3f-4ea2-8ced-8d9937f8dd71
Kunc, Martin
0b254052-f9f5-49f9-ac0b-148c257ba412
Dyner, Isaac
64103655-2a25-4080-bf5b-5afd4e48205b

Quiceno, Grace, Álvarez, Claudia, Ávila, Raúl, Fernández, Óscar, Franco, Carlos Jaime, Kunc, Martin and Dyner, Isaac (2018) Scenario analysis for strategy design: a case study of the Colombian electricity industry. Energy Strategy Reviews, 23, 57-68. (doi:10.1016/j.esr.2018.12.009).

Record type: Article

Abstract

The technology transformation of the power industry is crucial for electricity companies, which need to be prepared for the transition of their traditional business. Using scenario-planning exercises, combined with SWOT and PESTEL analysis, as well as a systems thinking approach, this paper explores potential strategies for electricity companies to grasp the opportunities and offset threats, by focusing on the formulation process for a broad, innovative strategy for the transition in the power business. The paper concludes that the transformation of the Colombian energy industry poses serious challenges to electricity companies when policy and regulation promote the adoption of non-conventional energy sources, at a time when the cost of renewables keep declining; however, with a robust adaptive strategy, companies could better face the transition from current business to new alternatives.

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Accepted/In Press date: 11 December 2018
e-pub ahead of print date: 18 December 2018

Identifiers

Local EPrints ID: 427763
URI: http://eprints.soton.ac.uk/id/eprint/427763
ISSN: 2211-467X
PURE UUID: d43c7e50-88f7-4604-b82f-3dca567c757f
ORCID for Martin Kunc: ORCID iD orcid.org/0000-0002-3411-4052

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Date deposited: 28 Jan 2019 17:30
Last modified: 28 Apr 2022 02:26

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Contributors

Author: Grace Quiceno
Author: Claudia Álvarez
Author: Raúl Ávila
Author: Óscar Fernández
Author: Carlos Jaime Franco
Author: Martin Kunc ORCID iD
Author: Isaac Dyner

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