The Internal Environment of E.ON - Essay Example

?The internal environment of E.ON Executive Summary Globalisation has changed the economic landscape in which business organizations are known to operate. E-on being one of the most eminent energy manufacturing organization requires to pay considerable attention towards this aspect for generating long term sustainability. The draft report seeks to analyse the different aspects of the global knowledge economy and the manner in which E-on has responded to the changes with regards to The external environment of the organization. It would also include how ICT’s have influenced the strategy formulation at the organization. The aspect of knowledge economy would also include the extent to which E-on has used innovations as a part of its strategic framework towards attaining excellence in the global knowledge economy. The report also contains an analysis of the strengths, weakness, opportunities and threats using the SWOT analysis. Furthermore the external environment has also been analysed by using the PESTEL framework. Competitive framework is another significant area which demands considerable attention hence an analysis of the Porter’s five forces model applicable to E-on has also been discussed in the study. This has been followed by the analysis of the external environment with regards to the opportunities of the market and finally the level of synchronisation or harmony of the organization with regards to its changes in the business environment have been analysed so as to formulate effective strategies for the future in an attempt to gain sustainable competitive advantage. Table of Contents Executive Summary 2 Introduction 5 Background to the organization 6 Internal Analysis 7 Congruence with the External Environment 7 Organizational Structure 8 Leadership 10 Politics 11 Human Resource Management 11 Corporate Culture 11 Innovations 12 Customers 14 Stakeholders 15 External Analysis 15 PEST analysis 15 Porter’s Five Force 17 Summary of the Internal and External Analysis (S-W-O-T) 18 Internal Strengths and Weaknesses 19 Strengths 19 Weakness 20 External Opportunities and Threat 20 Opportunities 20 Threats 21 Conclusion 21 References 22 Bibliography 25 Annexure 26 Introduction Globalization has changed the business dynamics and the environment in which organizations operate in the markets. Business organizations are now looking beyond national and geographical frontiers to enter into new territories. This has significantly increased the rate of completion among the market players. The change in business dynamics of the external environment has forced organizations to adhere with the global knowledge economy by bringing about innovations in their business processes. Innovations not only help in generating organizational excellence but also help to formulate measures that seek to counter the competition in the markets. Knowledge is perhaps the area which can be used as a tool to gain leverage of the prevailing knowledge based economy. According to Corey & Wilson knowledge economy is defined as “an economy that increasingly relies on technology and knowledge factors of production and wealth creation, in addition to labour and capital” (Corey & Wilson, 2006, p.206). Operating in a knowledge economy also involves making full use and proper application of the benefits of the knowledge economy in every business process of the organization. The evolution and use of ICT in business organization largely follows from the implementation of the elements of knowledge economy in the business organizations (Brinkley, 2006, p.4). The emergence and evolution of knowledge economies can be traced to the beginning of the industrial revolution. Since then it has been a continuous story of technological evolution with the present age of internet and highly advanced technologies which are increasingly used by business organizations to gain competitive advantage. Another interesting aspect is that technological innovation has not only inculcated among the developed nations but also among the developing nations which has essentially called for the need to ensure greater technological innovations. Organizations like Apple, Sony and Honda have taken major strides by leveraging on the aspect of knowledge based economies by inducing continuous innovations. Techniques like Kaizen, Six Sigma and TQM have begun to be used by many organizations to gain competitive advantage (West & Cianfrani, 2004, p.108). Most organizations have a dedicated research and development department that seeks to continuously bring about innovations in the learning curve of the organizations. Organizations spend millions on their research divisions in an attempt to leverage on the benefits of knowledge and innovation. Innovation and knowledge is a wide topic and includes all the stakeholders including the suppliers and the company workforce. The present study would deal with the strategies of a business organization with regards to the opportunities shown by the emergence of knowledge based economies and hoe they leverage this aspect into competitive advantage by using its resources at disposal. The organization selected for the study is E.ON which deals with energy and gas based products. The study would reveal the extent and the manner by which the organization has used its internal strengths to leverage on the opportunities shown by the emergence of knowledge based economies. Background to the organization E.ON is a German energy and gas organization that deals with power generation, distribution, trading, carbon sourcing as well as production and supply of gas. The customer base for this organization includes both corporate and retail customers. Currently, this giant energy company have to aim to concentrate on the projects like renewable energy and environmental projects. The company uses both renewable as well as non renewable sources to generate energy for meeting the energy requirements. E-on has its presence with its subsidiaries firms in almost all the major European nations Benelux nations including, Germany, UK, France, Italy, Spain, Sweden and Russia. It is primarily a German-based company with the headquarters located in Dusseldorf of Germany. The total energy turnover of the organization is approximately valued at 68 GW as of 2010 which represent a 4 percent increase over its corresponding figures in the last year (E-on, 2011). Figure 1: Financial Facts and Figures of E-on (Source: E-on-a, 2011) The figure above shows the key facts and figures of the organization. The organization has dedicated employee strength of 85105 employees as of 2010. The company also has a strong balance sheet which is reflected from the percentage increase over the figures of the previous years. Recently, the company has taken necessary safety measures to avoid nuclear disaster like in Japan. E. Om has ensured the German Government to offer its technical assistance for supporting the affected area of Japan (Teyssen, 2011, p.2). Internal Analysis Congruence with the External Environment The analysis of the aspect of knowledge economy provides ample belief that it is very essential to develop strategies that help an organization to leverage upon the opportunities of the knowledge based economies. The strategic forces that shape the knowledge based economies include innovative capacity of the organization, strategic human resource base, support for research and development, and thrust on information technology. This section would analyse on the nature to which E-on has inculcated or formulated strategies with regards to the above stated forces of knowledge based economies. It is also important to analyse the diffusion of knowledge and innovation. This assumes greater significance considering the fact that innovations are only successful when they are penetrated across the entire organization (Rooney, 2003, p.3). Organizational Structure E-on while responding to the market environment fuelled by knowledge economies has responded by reframing its organizational structure. In its recent annual report the organization mentioned about its decentralisation policy which would provide decision making powers to the regional units. Adapting such a framework would help in faster decision making and would provide greater thrust to the aspect of innovation in the business process (E-on-c, 2011, p.3). Figure 2: Organizational Structure at E-on (Source: E-on-f, 2011) The figure above shows the organization structure at E-on. The organization has adopted a decentralised organizational set up which has provided considerable powers to the regional units to make faster and effective decision to manage the turbulent business environment. Figure 3: Organizational Structure at E-on (Source: E-on-i, 2011) Leadership Leadership is another vital aspect for an organization as it defines the vision of the organization towards creation of sustainability. The leadership capabilities of E-on can be analysed from the fact that the organization has been constantly rated for its leadership skills. Leaders are divided into three categories namely E1, E2 and E3 which have different roles. Efforts are also made to involve cross functional specialities among the leaders that helps in multi tasking (E-on-b, 2011, p.23). The leadership style of the E-on primarily strives to influence the underlying the culture of the organisation. In order to bring improved culture in the organisation, the company’s core leadership style is of cooperative type. Employees are crucial factor for the organisational as they are the innovative mind for E-on. In this regard, the cooperative leadership style is helpful in encouraging the innovative strategy and organisational culture. On the other hand, due to the essence of the gaining completive advantage over the key competitors, cooperative leadership style is necessary (Taylor, 2009, p.3). Politics Government policies play a key role in shaping the strategies of the organization. Most of the government in Europe from which E-on operates has a highly stable government that encourages innovations in the organizations. Human Resource Management The organization has also adopted an effective training and development policy where it provides periodic training to its employees so that they can remain abreast about the latest developments in the sector. Effective Performance management schemes and a suitable reward program help in generating a talented and motivated workforce that has the abilities to meet the challenges of the knowledge based economies. The company has also developed programs to ensure greater safety standards for the employees working at the generation units (E-on-b, 2011, p.24). Corporate Culture E-on has identified a growth oriented corporate culture as major competitive advantage and a priority for sustainability. Hence, the company has developed its core values which guide it in maintaining a better corporate culture. Hence, it has predetermined its values and behavioural norms which tend to focus on the development of healthy corporate culture. Its shared values includes four important aspects i.e. “integrity”, “openness”, “trust and mutual respect”, “courage”, and “social responsibility” (E-on-g, 2011). These values are essential for E-on for shaping the behaviours of employees for achieving the common organisational mission. The key behavioural factors of this organisation is “customer orientation”, “drive for performance”, “change initiation”, “teamwork”, “leadership” and “diversity and development” (E-on-h, 2011) Innovations Innovations and research constitute one of the key focus areas for E-on. This can be analysed from the fact that the organization has a dedicated research and development cell that caters to the development of new technologies in the organization. The total R&D spending of the company in 2009 was approximately 105 million Euros. Another significant aspect in the innovation strategy of the organization is that it has entered into tie ups with different universities so as to provide funding for development of new technologies and innovations (E-on-e, 2011). The figure below gives a detailed coverage and overview of the R&D spending of the company. Figure 4: R&D Budget of E-on in 2009 (Source: E-on-d, 2011) The main focus areas for the organization includes focus on developing efficient means of transmission, use of renewable sources of energy to generate power, efficient applications of energy in the power plants and development of the existing technologies of the organization. The company also spends heavily on the aspect of reducing the carbon footprint by developing eco friendly means to generate power. The company is trying to increase its focus on the use of non renewable sources of energy to meet this purpose. E-on spent approximately 6 billion Euros towards increasing the share of non renewable sources of energy from 0.4 GW to 3.6 GW by the year 2010. The effective organization structure has also ensured a proper diffusion of innovation into the organization (E-on-b, 2011). Customers Customers constitute an important element in an organization’s framework in a knowledge based economy. Organizations are essentially crafting effective Customer Relationship Management practices to provide greater value to their product offering. In case of E-on customers form the core element of the business strategies of the organization. E-on puts considerable focus on its customers in an attempt to provide greater value addition to the service offering. E-on’s production units face considerable challenges from the effects of natural disasters like storms, earthquakes etc. Natural disasters tend to cut down power supply which causes incontinence to the customers. The organization through its dedicated research and development cell has formulated technologies that can help the transmission girds and generating units to have greater abilities to withstand the effects of these natural disasters. The organization also has an effective corporate social responsibility strategy that aims to take care of the society at large. Protecting the environment constitutes the core of this policy of the organization. Efforts are also made to ensure procurement from reliable and good sources. In addition the company also puts focus on an open framework where customers and stakeholders can share their grievances regarding the organization and its products. The company recently carried out a massive assessment of its emission standards in an attempt to provide a cleaner environment to the society. Energy efficient homes have also been designed by the organization that serves to reduce the electricity expenditure and helps in reducing cost for the customers while generating eco friendliness (E-on-b, 2011, p.10-11). The organization has also developed its existing customer service department so as to make to easily accessible and quick to meet the needs of the customers. E-on has also used its strengths in innovation to create new product offerings that tend to increase the value addition to the customers on one hand and to provide a better environment on the other hand. The company has recently developed an electric car that uses electricity as a fuel that completely eliminates the emissions. This car also has unique aspects like energy savings as it can return back the electricity to the grid when it is an idle state. All these strategies tend to not only help in developing a positive image in the minds of the customers but also helps in generating an eco friendly image of the organization in the minds of the customers (E-on-b, 2011). Stakeholders The organization has also responded to the need of keeping the shareholders confidence by adopting proper disclosures measures and adopting efficient financial strategies that seeks to provide greater value to the stakeholders. The company seeks to engage the stakeholders in a discussion over the future prospects and strategies of the organization and takes them into confidence while formulating strategies (E-on-b, 2011). This helps in not only generating confidence among the stakeholders but to also gain competitive advantage. External Analysis PEST analysis In order to assess the external environments i.e. the macro-environment factors which are not controllable by the organisation, PEST analysis is the most widely used model. The PEST model includes four main factors of the macro-environment influencing an organisation (Allen, 2008, p.114). The PEST analysis for E-on for its main business Unit in Germany has given below. Germany is a developed country of Europe and belongs to the category of first world country. The stable political system of the Germany is its major strength for its economical growth through the development of trade and business. “The government is parliamentary, and a democratic constitution emphasizes the protection of individual liberty and division of powers in a federal structure” (U.S. Department of state, 2010). The government is responsible for regulating the trade and business through a set of pre-defined legal framework. ). The aspect of human resources in a knowledge based economies also assumes large scale significance as organizations require a supply of highly talented individuals who have the ability to deliver results and help generate innovations in the organization. The role of government also assumes significance as they are a major driver for promoting growth and innovation in the organization (Organization for Economic Development and Co-operation, 1996, p.5-6). The economic condition of Germany is very strong due to the growth of industrialisation. It GDP as per purchasing power parity is nearly $2.96 trillion with the real growth rate of 3.6%. Higher per capital income as per GDP is also quite high i.e. $35,900 which enhance the standard of living of this country. This economy is also enriched with vital resources like labour force, availability of capital etc (CIA, 2011). Germany is densely populated country with the population of 81,471,834. Higher population is major factors with provides it a huge amount of labour force. Moreover, the nearly 66.1% of the total population belongs to the 15 to 60 years of age group which is also helpful for Germany’s productively (CIA, 2011). There has been an increased completion among the organization with regards to innovation and the abilities of the organization to harness the opportunities of technology in their business processes (The Technology Strategy Board, 2010, p.5). Germany is one of the most advanced country is the world. Due to its excellent technological expertise, it is “among the world's largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, food and beverages, shipbuilding, textiles” (CIA, 2011). Moreover, better availability of infrastructure is a major factor for growth and development of trade and business. Porter’s Five Force Porter’s five forces model evaluate the influence of driving factors on profitability of the industry. This model include five f\driving factors i.e. bargaining power of buyers & suppliers, threat from the potential entrants & substitute products and existing rivalry (Hill and Jones, 2009, p.42). These five forces are analysed in respect of E-on. In energy producing industry the customers are generally corporate customers and the organisation have to deal carefully with their customers as every corporate consumer adds significant amount of revenue. On the other availability of other substitute energy and competitors lead to reduce the switching cost of the customers. Hence, bargaining power of customers is quite high. The suppliers groups mainly include the innovative and skilled employees and the suppliers of the equipments and materials. In German there are a large of the skilled employees and manufactures of machines and equipments are available. Therefore, their bargaining power is quite moderate. Due to technical improvements trough R&D, the many countries are trying to produce other substitute method of producing energies which is a potential threat to this industry. However, as of now, this threat is quite low. The entry barrier in this industry is also very high due to intense capital investments and highly technical expertise. Moreover, the presence of giant energy producers also strengthens the entry barriers. Therefore, the threat from new entrants is also very moderate. The existing rivalry is very intense in the energy producing industry. The Germany energy industry is crowded with the giant competitors like Mainova, Viessmann, Volkswind, Deutsche Babcock, Rhein Energie AG etc. As the availability of customers is not so prominent, the level of competition among the competitors is too high. Summary of the Internal and External Analysis (S-W-O-T) The extent to which E-on can leverage on the opportunities largely depends upon the internal strengths and weakness of the organization. The analysis of the internal environment is important as it would reveal the organizations ability to take complete leverage of the opportunities of the knowledge based economy. SWOT is a tool that can help in analysing the internal environment of the organization. SWOT is an acronym for Strengths, Weakness, Opportunities and Threats and is largely used by organizations to assess the internal environment (Griffin, 2007, p.67). Internal Strengths and Weaknesses Strengths The main strengths of the organization E-on lies in its quality of service provided and the product category in which the organization operates. Power and energy is one of the most vital needs for both retail as well as business customers where it is a utility product. This ensures a constant demand for the product. Presence in diverse fields including focus on non renewable energy sources ensures competitive advantage for the organization. With regards to human resources the organization has an effective program that seeks to continuously train the individuals for meeting the needs of the customers. Employee motivation techniques like flexible work hours, work from home facilities seek to induce motivation which helps in making the organization an attractive place to work. This ensures a supply of talented labour and lower turnover rates which derives competitive advantage for the organization. In addition to these certain other strengths of the company include presence of a dedicated and innovative research and development cell that helps in continuous innovation of the business process. The company also has focussed into non-renewable sources for energy generation which has served to position its image as an eco friendly organization by reducing its carbon footprint and has also led to cost advantages. The large scale of operations has helped in generating economies of scale and scope which has led to cost advantage, efficiency as well as creation of entry barriers for new players. The organization also has good focus on maintaining sustainability which helps in generating sustainable advantage. The diversified product portfolio of the company includes gas, electricity as well as other related products. This helps in a hedging and risk management strategy for the organization. Another very important strength of the organization lies in its integration strategy. The company has integrated both vertically and horizontally which has helped in generating greater advantages for the organization. The nature of mix of the fuel used in the company is also an area of advantage for the organization (E-on-b, 2011, p.23). Weakness The major weakness of the organization appears to be from its strategy of being located mainly in the European market. Over dependence on a single market segment makes its highly vulnerable to the disturbances and fluctuations in the market. This may affect the business prospects and long term sustainability of the organization. Other areas of weakness include large scale manipulations of the charges of the market. There have also been issues regarding the emissions from the nuclear reactors. External Opportunities and Threat Opportunities The major opportunities for the organization lie in the vast potential of the market and the essential nature of the products of the company. Focus on renewable energy sources helps the firm to gain large scale opportunities of low cost as well as adherence to norms of reduction of carbon footprint. The increase in demand for electricity and gas also constitutes an important area of opportunity for the organization. The demand for LNG based products which is another product offering of the company also generates greater opportunities for the organization. The company’s expansion into Russia also presents large scale opportunities for the organization with regards to the market entry into a new market which has considerable potential. Nuclear power generation has become a major area of opportunity for the organization as they are highly cost effective and can generate large units of power. Strategic collaboration in Algeria for joint exploration works can also serve as an area of opportunity for the organization for future supply of gas. In addition it would also help in backward integration of the firm which would reduce its dependence on suppliers by a large margin. It would also fuel further growth of the business model and help in the expansion strategy of the organization as well as to meet the growing demands of the existing market (E-on-b, 2011). Threats E-on faces threats mainly from the large scale completion in the existing markets. Most of the markets where the organization has a presence have huge potential and are also characterised by presence of large number of competitors which can serve as a threat if not handled in a proper manner. Increased government regulations also serve to emerge as a threat as norms are getting stricter every day. The company’s foray into the Russian markets also poses significant threats as it is largely dependent upon suppliers in the nation who have a high bargaining power. Finally the organization’s generation units are largely prone and vulnerable to the destructive effects of natural disasters. This holds even more importance with the nuclear power plants coming into existence as they can cause highly devastating effects in case of mishaps. The SWOT analysis of the organization reveals considerable strengths and potential areas of opportunity for the organization. However it remains to be seen how the organization effectively uses these to leverage on the opportunities and minimise its threats and weakness in the long run. Conclusion The analysis of the study reveals considerable opportunities for business organizations like E-on in the backdrop of the knowledge based economies. The analysis of the internal strengths reveals considerable areas of strengths and opportunities. The organization has adapted effectively to the demands of the knowledge based economies by focusing on continuous learning and growth. The company’s strategy has ensured that every vital aspect and element of knowledge based economy is fully developed and utilized to achieve greater advantage in the organization. The large expenditure on innovation and research and development clearly highlights the organizations ability to leverage the opportunities. In addition to innovation customers, stakeholders, and employees have also been provided importance so as to seek better organizational efficiency. A strong focus on growth and innovation along with an effective corporate social responsibility policy of the company has improved its positioning both within the organization as well as with the customers. The organization has also resorted to effectively taking care of the needs of the society by increasing its focus on the use of renewable sources of energy as well as new product development that not only seeks to improve the image and brand name of the organization but also to generate eco friendliness in the environment as a whole. The draft policy of the organization also reflects it commitments towards reducing the carbon footprint. Incorporation of these strategies has not only resulted in a better positioning for the organization but also has the potential for generating long term sustainable competitive advantage for the organization in the business markets. References Allen, K. R. (2008). Launching New Ventures: An Entrepreneurial Approach. 5th ed. Cengage Learning. pp.114. Brinkley, I. (2006). Defining the knowledge economy. [Pdf]. Available at: http://www.theworkfoundation.org/assets/docs/publications/65_defining%20knowledge%20economy.pdf [Accessed on April 15, 2011]. pp. 6. 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Walter de Gruyter Annexure Annexure 1: Shareholding Pattern (Source: E-on-b, 2011, p.30) Annexure 2: Stock Figures (Source: E-on-b, 2011, p.33) Annexure 3: Strategy Framework for Future (Source: E-on-b, 2011, p.38) Annexure 4: Financial Performance (Source: E-on-b, 2011, p.9) Read More