The forces of global change call for significant rethinking and restructuring of the power industry if it is to remain viable. Industry leaders face monumental challenges as they strive to steer their companies through today’s conditions-described as volatile, uncertain, complex, and ambiguous – into agile, nimble, and flexible organizations that can respond to this changing environment and succeed in the future. After noting that identifying and framing hurdles is a critical first step in navigating the new landscape, this chapter urges leaders to apply the model of the startup and to embrace seeding and scaling initiatives necessary to identify opportunities for survival and growth. Transforming a long-standing and matured industry to move and operate like a startup requires that leaders address a series of challenges, the hardest being embedding the startup-like operations within the core legacy organization, while simultaneously taking steps to preserve and protect the matured side of the organization, which is the source of economic value today. Leaders must balance these two important but seemingly contradictory priorities: maintaining business continuity alongside developing the ability to change and pivot quickly to meet the demands of the future.
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The Leadership Problem: How to turn the Long-Standing Power Industry into a Startup?
