Micro-foundations of market entry in highcomplexity markets

: taking a business model perspective on the european electricity industry

Abstract

Recent fundamental changes in the electricity sector have pushed energy companies to innovate their business model towards technology solution providers and grow beyond national borders in order to survive in an increasingly competitive environment. However, only few firms in the electricity industry have successfully internationalized so far. One reason might be the inherent complexity of the market itself. Thus, interviews with ten European energy companies were conducted to identify potential market design barriers energy firms face during the internationalization process. In particular this thesis takes a business model perspective to develop a framework for international business model adaptation, the Market Design Canvas, as guidance for internationalization in high-complexity markets. Research revealed that market, economic and regulatory forces are the biggest obstacles for the internationalization of energy firms. However, these can be overcome through business model adaptation. More specifically, solution business models and semi-global business models were identified as viable international business models for firms in the electricity industry. These findings have important implications for energy policy.

Date of Award	18 Jul 2017
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	René Bohnsack (Supervisor)