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In Paris, in 2015, 195 countries agreed to limit the emission of CO₂. The German Energiewende is an example of the types of regulatory changes that countries will need to enact to meet their Paris commitments. The Energiewende saw the German Government forcefully shift the energy base from non-renewable to renewable sources to reduce CO₂ emissions, and the effect of this was to reduce the market value of some German energy firms by as much as 70%. This paper aims to consider the strategic options available to energy incumbents facing the sort of regulatory challenges implied by the Paris agreement.

This paper is a literature review and a thought experiment, in which, 12 fields of strategy research are reviewed, and using the insights obtained from these fields, four strategic options are proposed for the energy incumbents, namely, “fight,” “flight,” “fit” and “follow.” Each strategy is introduced and evaluated, and, by looking at examples from other industries, the viability of that strategy for the energy industry is concluded.

Of the four strategies identified – that is, fight (lobbying), flight (internationalization or diversification), follow (imitation) or fit (adopt a core competencies perspective that re-imagines the firm) – it was concluded that only the last is feasible. The present review, and the application of the discussion to the energy industry, suggests that “fight” is viable only in the short term as a delaying strategy; “flight” is a value-destroying strategy, and, therefore not a real option for the energy industry; “follow” will lead the energy incumbents to lose their current positions of power; and only “fit” will allow the energy incumbents to remain viable in the long term.

All research has its limitations. The main limitation of this research is the fact that this study is a thought experiment based on a literature review. The suggested strategies are forward-looking, but are based on historical examples, and are intended to guide the energy incumbents, even when they are based on non-energy examples. The reader should view this paper in that light.

The practical implication of this research is that, of the 12 fields of strategy that it reviews, there is only one feasible strategy for the energy incumbents looking to survive the sorts of regulatory challenges implied by the Energiewende and the Paris agreement. The research suggests that many/most/all of the energy incumbents will, at first, choose a “fight” strategy, but in the long term only those that choose for a “fit” strategy will survive the sort of disruptions implied by these regulatory changes.

The social implications of this research are that many/most/all firms in the affected industry will go through a predictable process, of first resisting the change, before eventually supporting it; that “flight” is not a viable strategy; and that radical innovation rarely comes from incumbents. Policymakers should be aware of these facts when not only working with incumbents to develop the regulations necessary to meet the Paris climate commitments but also looking at the impacts of regulation and when trying to “pick winners.”

The paper reviews the existing literature, and the review is not new. The application to a specific industry and the advice gleaned from this for managers and policymakers is new and of high value.

Industry 4.0 is expected to significantly transform industrial value creation. However, research on business models affected through Industry 4.0, and on small- and medium-sized enterprises (SMEs), remains scarce. In response, the purpose of this paper is to address both aspects, further elaborating on the role that SMEs can take toward Industry 4.0 as provider or user.

The paper used an exploratory research design based on 43 in-depth expert interviews within the three most important German industry sectors, mechanical and plant engineering, electrical engineering and automotive suppliers. Interviews were conducted with leading personnel of the respective enterprises, including 22 CEOs. They assign business model implications through Industry 4.0, referring to the Business Model Canvas, while the paper delineates between Industry 4.0 providers and users.

The paper finds that key resources and value proposition are among the most affected elements of the business model, whereas channels are the least affected. Furthermore, distinct characteristics between Industry 4.0 providers and users can be delineated. In general, Industry 4.0 providers’ business models are significantly more affected than users, except for key partners and customer relationships.

Industry 4.0 remains at its early stages of implementation. As a result, many interviewees’ answers remain at a rather general level.

Strategies for the further alignment of the business models are provided for Industry 4.0 providers and users.

The paper is among the few that investigate Industry 4.0 in the context of SMEs and business models.

Although the tasks of managing carbon peaks and achieving carbon neutrality in China are arduous, they are also of great significance, which highlights China’s determination and courage in dealing with climate change. The power industry is not only a major source of carbon emissions but also an important area for carbon emission reduction. Thus, against the backdrop of carbon neutrality, understanding the development status of China’s power industry guided by the carbon neutrality background is important because it largely determines the completeness of China’s carbon reduction promises to the world. This study aims to review China’s achievements in carbon reduction in the electric industry, its causes and future policy highlights.

The methods used in this study include descriptive analyses based on official statistics, government documents and reports.

The research results show that, after years of development, the power industry has achieved positive results in low-carbon provisions and in the electrification of consumption, and carbon emission intensity has continued to decline. Policy initiatives play a key role in this process, including, but not limited to, technology innovations, low-carbon power replacement and supported policies for low-carbon transformation toward low-carbon economies.

This study provides a full picture of China’s power industry against the backdrop of low-carbon development, which could be used as a benchmark for other countries engaging in the same processes. Moreover, a careful review of China’s development status may offer profound implications for policymaking both for China and for other governments across the globe.

The purpose of this paper is to analyze the conventional approach to advanced manufacturing initiatives. Buzzwords like smart manufacturing or industrie 4.0 are directly linked to the discussions about the future of industrial activity. Little is said, however, about developed countries actively reinforcing their bets on the relevance of manufacturing.

This study opted for analyzing academic papers and governmental white papers. Somehow similar to those studies on compared experiences, here the US and German initiatives are put into perspective.

The critical interpretation of several works allows us to state that advanced manufacturing experiences consist in a set of policies aiming at industrial and technological leadership in a scenario of fierce competition. The initiatives seek to strengthen manufacturing activities by means of a mission-oriented approach, fostering enabling key technologies.

This paper fulfills an identified need to critically study the advanced manufacturing initiatives. Away from conventional approaches, the paper puts into perspectives the main ongoing initiatives on advanced manufacturing and interprets them as deliberated national efforts to strengthen manufacturing activities by means of enabling technologies. The paper also points out preliminary recommendations for Brazil.

The Norwegian travel industry faces decline in important international tourism segments and needs an industry wide and future‐oriented strategy to face these challenges. Accordingly, a common understanding of future drivers and different scenarios for the industry is needed. The paper aims to discuss these issues.

Using the process of scenario analysis and drawing upon the involvement of the tourism industry, this paper describes the method, drivers, scenarios, and implications.

The research identified six important drivers with predictable outcomes: uneven global economic development, digitalization, climate change, consumer demand – return on time, centralization, and demography. The Norwegian economy and Norwegian politics were the two drivers that stood out as the most significant for the tourism industry, with a very uncertain outcome, and constituted the two axes of the scenarios. This resulted in four scenarios: Money Rules, The Urban Diamond, Opportunities for All, and Master Plan.

The four scenarios represent different economic value of international tourism in Norway. The Opportunities for All and Master Plan scenarios represent the greatest economic value for Norwegian tourism. They indicate great opportunities for tourism to become the “new oil” in Norway if the oil economy declines. The two scenarios differ with respect to the degree of governance control vs market liberalization. The scenarios will be used to identify implications and risks for different parts of the tourism industry, and to further explore how governance control and market liberalization may be combined.

The research identified six drivers which are significant for the Norwegian tourism industry. This resulted in four scenarios which are used to identify implications and risks for different parts of the industry.

Most of the European apartment blocks are rental units of which the majority needs major refurbishments in upcoming years to achieve climate goals. On the other hand, it is still difficult for property owners to evaluate the profitability of energetic retrofitting investments. The purpose of this paper is to contribute to the situation by forming a standardized framework and tool to calculate profitability of energy efficiency investments throughout Europe.

From a European perspective, several different areas of interest (technical, legal, institutional and financial) have been screened to develop an extensive compendium. This has been performed by literature research and several national surveys. Based on these findings, an online-based tool for profitability calculation has been developed to support the decision-making process of each individual, regardless his knowledge on energy efficiency.

This paper provides a short overview on main investment barriers in Germany. It is found that both market conditions and information deficits harm energy efficiency investments. Frequently, the decision-making process is found difficult due to inflexible regulations and lack of knowledge. This dramatically reduces market incentives that are already in place. Most often, the investor user dilemma is seen as the main investment obstacle. In this context, transparency and reliability are found to trigger energy-efficient investments.

Findings are used to identify best practice examples and to assess their transferability to other markets and countries. Innovative solutions have been extracted to improve the overall investment climate.

The paper contributes to a sound foundation for energy-related investments and the fulfillment of EU reduction targets.

Industry 4.0 is assumed to yield extensive industry-spanning opportunities. However, exploiting these opportunities requires a targeted implementation of Industry 4.0. The purpose of this paper is to generate a deeper understanding of relevant implementation action. Existing recommendations are mostly general, highly aggregated and difficult to grasp. Yet, specific and concrete actions that need to be taken to accelerate the realization of Industry 4.0 are essential.

The article uses 13 semi-structured in-depth expert interviews as the source of empirical data. The interviews were conducted with managers from Industry 4.0-experienced German manufacturing companies. All interviews are analyzed using qualitative content analysis.

The study reveals relevant and targeted aspects for Industry 4.0 implementation: the development of Industry 4.0-specific know-how, securing financial resources, integrating employees into the implementation process and establishing an open-minded and flexible corporate culture. Further aspects include comprehensive planning processes, cooperation with external partners, proper handling of data interfaces, interdisciplinary communication, an adaptable organizational structure and data security.

The paper is limited to German manufacturing enterprises and should be transferred to other industries and countries.

The study supports managers to effectively implement Industry 4.0 within their organizations and consequently benefit from Industry 4.0 and derives recommendations for future research.

The paper is among the first to give specific and concrete examples for lessons learned from Industry 4.0 implementation, directly obtained from industrial application.

This paper examines the network dynamics of the cross-border trades utilizing Social Network Analysis (SNA) based on data obtained from the WTO-OECD Trade in Value Added database from 2000-2011. The main results of this paper are as follows: regarding the top 10 in-degree centrality industries, industries in China, Germany, and the U.S. have emerged as the largest importers of foreign value added, implying that the global production network is dominated by two different types of industries. The first type includes processing and assembling functions in China and Germany. The other type of industry involves foreign value added largely for domestic final demand in the U.S. Secondly, there are also two types of brokerage roles. U.S. industries are operating in a liaison role, while Chinese and German industries are mostly operating as coordinator or gatekeeper. Thirdly, manufacturing industries in China and Germany which have emerged as higher in-degree centrality incur a large portion of their value added from the logistics industry. This suggests that those leading industries with the highest characteristics of hubness in the global production network cannot sustain their network status without efficient utilization of the logistics industry.

Global climate change is a serious threat to the survival and development of mankind. Reducing carbon emissions and achieving carbon neutrality are the keys to reducing greenhouse gas emissions and promoting sustainable human development. For many countries, taking China as an example, the electric power sector is the main contributor to the country’s carbon emissions, as well as a key sector for reducing carbon emissions and achieving carbon neutrality. The low-carbon transition of the power sector is of great significance to the long-term low-carbon development of the economy. Therefore, on the one hand, it is necessary to improve the energy supply structure on the supply side and increase the proportion of new energy in the total power supply. On the other hand, it is necessary to improve energy utilization efficiency on the demand side and control the total primary energy consumption by improving energy efficiency, which is the most direct and effective way to reduce emissions. Improving the utilization efficiency of electric energy and realizing the low-carbon transition of the electric power industry requires synergies between the government and the market. The purpose of this study is to investigate the individual and synergistic effects of China’s low-carbon policy and the opening of urban high-speed railways (HSRs) on the urban electricity consumption efficiency, measured as electricity consumption per unit of gross domestic product (GDP).

This study uses a panel of 289 Chinese prefecture-level cities from the years 1999–2019 as the sample and uses the time-varying difference-in-difference method to test the relationship between HSR, low-carbon pilot cities and urban electricity consumption efficiency. In addition, the instrumental variable method is adopted to make a robustness check.

Empirical results show that the low-carbon pilot policy and the HSR operation in cities would reduce the energy consumption per unit of GDP, and synergies occur in both HSR operated and low-carbon pilot cities.

This study has limitations that would provide possible starting points for future studies. The first limitation is the choice of the proxy variable of government and market factors. The second limitation is that the existing data is only about whether the high-speed rail is opened or not and whether it is a low-carbon pilot city, and there is no more informative data to combine the two aspects.

The findings of this study can inform policymakers and regulators about the effects of low-carbon pilot city policies. In addition, the government should consider market-level factors in addition to policy factors. Only by combining various influencing factors can the efficient use of energy be more effectively achieved so as to achieve the goal of carbon neutrality.

From the social perspective, the findings indicate that improving energy utilization is dependent on the joint efforts of the government and market.

The study provides quantitative evidence to assess the synergic effect between government and the market in the low-carbon transition of the electric power industry. Particularly, to the best of the authors’ knowledge, it is the first to comprehend the role of the city low-carbon pilot policy and the construction of HSR in improving electricity efficiency.

The purpose of this paper is to present the way in which the mainland of the German Wadden Sea area transitioned from traditional sectors into an almost entirely tourism destination, and which factors contributed to and/or necessitated such a development.

The overall approach in this paper has adopted a focus on an extensive case study of the German mainland of the Wadden Sea area. Scientific articles have been used to, first, structuring the theoretical framework and then to gain a general understanding on what a transition exactly entails. As a result, the theoretical framework has been written in an examination of existing literature on transitions and functioned as the theoretical support and foundation for the case study analysis. The analysis has been shaped by means of a number of scientific articles, branch reports, books and websites that, in most instances, specifically focused on the chosen case. Since the area of study is located in Germany, specific literature on this area was mostly limited to the German language, a language of which the author has a basic, yet not thorough, understanding. However, the overall scope of the developments in the case in regard to the transition from agricultural and fishing communities to communities in which tourism plays a substantial role has been understandable.

One of the most important sectors that economically benefit the Wadden Sea region, especially on the Dutch and German Wadden islands, is tourism. While tourism development on the Dutch mainland is minimal, the sector considerably developed in the past few decades on the German mainland, generally as a result of declining yields through multifarious unfavorable developments in traditional sectors such as agriculture and fishing, amongst others. Throughout previous centuries, Norden-Norddeich possessed some small-scale tourism facilities; however, negative developments in those traditional sectors required the municipality to prevent an impasse situation, resulting in altering business models and upscaling tourism facilities. Initiatives in different layers (micro, meso and macro) were initiated and gradually intensified in order to develop Norden-Norddeich as a counter destination for the expensive German islands. Following the phases of transition, Norden-Norddeich gradually developed and can now be regarded as a stable and dynamic holiday destination as well as a system that nowadays almost completely adheres to tourism. It took Norden-Norddeich ten years to transition toward tourism. Presently, Norden-Norddeich is the most visited mainland destination at the German Wadden Sea coast. In contrast, small-scale activities are set up in the mainland part of the Wadden Sea area in the Netherlands, but miss out on effective collaboration between different stakeholders that are involved in both planning and management (such as policy makers) and executive roles (such as the people who organize activities and/or facilities). Furthermore, the area is managed in such a way that does not contribute yet to upscaling economic development, mostly as a result of regulatory issues that hinder such developments. However, increasing efforts by several stakeholders are being taken that should ultimately lead to a sustainable socio-economic development of the Dutch mainland part of the Wadden Sea area.

Analyzing the stages of transition on the German mainland of the Wadden area might function as an example for stakeholders in villages or cities located on the mainland of the Dutch Wadden to become aware of how processes of tourism transitions occur, what factors are needed to start off such a transition and what effects a transition might have on the revitalization of a certain area. Moreover, the case of Norden-Norddeich could stand out as an example for Dutch stakeholders in the Wadden region to perceive in what way a locked-in situation could be prevented or solved by shifting from one system to another by taking on a wide range of initiatives that might be led and stimulated by different actors.