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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.

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.

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.