New Technologies and Innovative Solutions in the Development Strategies of Energy Enterprises

Abstract

Energy companies face challenges arising from the ecological, social, and legal environments. The reduction of negative impacts on the environment and society while maintaining sustainable development affects the formation of new development strategies and the push to introduce state-of-the-art innovative technologies. The main aim of the research is to analyze the importance and role of the adaptation strategy in external requirements and to determine the mechanisms of the occurrence of passive and active adaptation. As a new approach to carrying out strategic analysis, two models were used simultaneously (inductive and hypothetical-deductive), which allowed for the realization of qualitative (interviews, observations) and quantitative (statistical analysis) research methods generally called mixed methods. The study was conducted on the basis of a mixed-method analysis of the adaptation strategies of enterprises from the energy sector. The results of the conducted research show the influence of particular macroeconomic elements (e.g., technologies, ecologies) on making strategic decisions. The issue of adapting an enterprise to its environment is also related to its involvement in the Research and Development (R&D) sphere. Depending on the size of the company, there are different amounts dedicated to R&D. Regulations and the technological environment force innovations by energy companies in the direction of reducing their harmful impact on the environment and society. Legal and political factors (both national and EU) determine the activities of power companies (in each group: small, medium, and large) and the choice of adaptation strategies. The intensity of adaptation to the requirements of environmental changes depends on the size of the company. As power companies apply passive adaptation strategies, and as they increase their position in the market, they begin to implement an active adaptation strategy.