Growth
Stages & Life Cycle Mining/ Material
Pivo5ng framing Research organiza5on returns Recycle for energy
1898 Started out as a family
owned blacksmith
workshop. From there they
pivoted from specializing in
steel frames for industrial
buildings (1928) to
household appliances
(1945) before finally landing
on one of their more
successful pivots; hydraulic
cranes (1968).
Diffusion
(cum)
1898 1928 1945 1968 1978 1980 Now
Time
Market Segmenta6on Niche Strategy
Geographic •  Worldwide (75 countries)
Market
Segmenta5on
•  Need for wind energy
Demographic •  Energy Projects Companies
Market
Behavioural •  Brand loyalty through economics economics Technology
“partnership”
Market (customer care)
Large Investments,
costs for exploring new
markets, logistics
costs, R&D costs, legal
costs for protecting
patents
National transmission
System operators (TSO),
Utility companies, Power
plant developers,
Independent power
purchasers
Fairs, Webcasts,
Quarterly & Annual
reports, Website,
Face to face
meetings
Manufacturing Circular Economy A single Vestas turbine
contributes to 1% of
CO2 compared to coal
Product
Design,
manufacture,
power plant. 99% of all
installa5on and
components can be op5miza5on of
Opportunity Re- Sustainable recycled or reused. Wind Turbines
Parts projects around
Manufacturer
the world
The oil crisis in 1979 The company starts Mass production began In 2004 the company Refurbish/
prompted a critical inves5ng 5me and money in 1980 but hard times merged with NEG Micon
pivot from hydraulic into secret wind turbines followed. To overcome becoming the world’s Remanufacture
cranes to the projects developing their this the company re- leaders in wind energy. Product Price Promo6on
Marke6ng
alternative energy first successful wind turbine organized and hired In 2013 the company Manufacturer Social Media,
Price is set with Interna5onal
industry. This critical in 1979. To ensure quality Johannes Poulsen as new projected a slightly new each customer
movement is labeled for customers they also managing director. direc5on entering a new Sports Events
considering
Mix
decide to research and Success followed and the future phase which will sponsorship,
as opportunity framing. Reuse/ turbine cost,
press
create their own carbon company went public in focus on maximizing Product/ shipping,
fibre material, which was a the Copenhagen stock growth poten5al. Service Sales Redistribute installa5on &
representa5ves
and catalogues in
op5miza5on.
success. exchange in 1998. Maintenance Magazines
Customer
Place
Online website,
catalogue and
Incinera5on/ Vestas online
Landfill shop
High-End Strategy
Core Technological & Market
Factors
Complimentar
y Customer Law & Rule Product
Macro- Macro- Knowledge
Influencing Factors Events
Sale of Wind turbines &
Farms, sale of service
Industry Condi6on
Opportunity Canvas
contracts for operations &
maintenance, sale of
spare parts
Knowledge Condi5ons:
Exper5se in hydraulic cranes,
one of the first to experiment
Entrepreneurial with turbines
Compe66on
Microgrid developers, Mo6va6on Demand Condi5ons: 1980 Oil
battery manufacturers,
Offshore OEMs, Energy • Self efficacy: High in Wind crisis, need of new energy Learning Curve: Had some
Turbine Design genera5on tough mistakes to the brink
Institutions, Banks & of bankruptcy
Financial Institutions, • Cogni5ve Mo5va5on: Needs Complementary Assets:
Logistics partners to be high to develop new
Stablished crane producer
Business
solu5ons and be market
Entrepreneurial Industry Status when turbine produc5on Opportunity
Mindset
leader started
• Tolerance for ambiguity: Industry lifecycle: young Iden6fica6on
R&D, Monitoring & •  Achievement: Constantly High, wind turbines pioneers Reputa5on effects: Posi5ve,
and emerging at the 5me Problem: No alterna5ve to oil
Model
controlling of turbines Pivo5ng good service to clients in past
Industry Structure: High Ventures & gas, emerging new wind
through internet, •  Individualism: Family
in capital intensity and turbine technology
Market Assessment, Business Entrepreneurial
•  Control: Internal medium in adver5sing
Building wind farms, Behaviour
Canvas
conducting O&M •  Focus
intensity Value Innova6on Solu5on: Deliver high quality
Confidence: High, a lot of self wind turbines with full service
•  Op5mism Eliminate: Switch to farmers
efficacy and experience looking for robust machines behind installa5on and grid
(intelligent design) integra5on
Risk Tolerance: High, have
been close to bankruptcy in Reduce: Produce own carbon
Patents, Technology the past and s5ll make bold fiber
& Materials, Wind decisions Macroeconomic Change
Raise: Quality of product and
Turbines, Social Capital: High, big Psychographic Change: more offer a full service Sustainable Business Venturing
partner network awareness for environment
Employees,
Network
conserva5on Create: Full service, design, DelS Center of Entrepreneurship
Technical Change: Increased manufacture, op5miza5on and
improvement and materials for installa5on Group 11
Social media
Development, Manufacturing
& Installation of Onshore,
turbine design
Societal Change: move to a
Julia Aijkens
platforms, Service
contracts,
Offshore Wind turbines, sustainable energy produc5on Joaquin Ruisenior
Emissions free energy, (10% wind)
Ecommerce website
Independence from utility Poli5cal & Regulatory: laws and Marie Grappin
incen5ves to switch to
grid, powering remote
renewables (wind) Bose Sumantraa
communities