This is a case study of a Danish wind turbine manufacturing company, Vestas. Between 1994 and 2001, Vesta’s sales have increased more than tenfold. This paper examines the key success factor of Vestas, and describes its challenges for future.
The key success factors of Vestas are five.
1.A clear vision for Vestas and the industry; focus on renewable energy
2.Managing internal growth; use government, stock option, school
3.International expansion
4.The politics of wind energy; because energy is regulated industry
5.Social responsibility and environmental management; ISO14001, some certification
However, Vestas faces some challenges for example, U.S. overcapacity of energy, high utilities’ credit rate which prevent to develop projects, change of exchange rate, doubt of core-competence of vertical integration. Theoretically, wind energy is most efficient in other renewable energies and its needs will become increase to meet Kyoto protocol by 2012, but it is not clear how to solve these questions.
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