Strategic Behavior in the Renewable Energy Industry: A Behavioral Macrosystemic Case Study of Vestas
DOI:
https://doi.org/10.70301/JOUR/SBS-JABR/2025/13/2/4Keywords:
Behavioral Economics;, Strategic Behavior;, Bounded Rationality;, STEEPLE analysis;, Vestas;Abstract
This study explores whether strategic decisions in the renewable energy sector follow predictable patterns shaped by external environmental forces. Drawing on a mixed-methods design, it combines qualitative STEEPLE analysis—covering social, technological, economic, environmental, political, legal, and ethical factors—with behavioral economics concepts such as bounded rationality, loss aversion, and status quo bias. A comparative radar chart and benchmarking of key industry players add a quantitative lens to the analysis. Focusing on Vestas Wind Systems A/S, the study tracks strategic responses across decades, revealing patterns of behavior that repeat in response to specific macro shifts like policy changes or technological advances. By doing so, the research offers a clearer view into how companies make decisions under pressure—not only in structured ways, but often shaped by behavioral tendencies. The findings suggest that strategic behavior can be anticipated to a meaningful extent, especially when viewed through the combined lens of behavioral and environmental analysis. This work contributes to strategic management and sustainability studies by offering a framework that helps both academics and practitioners make sense of corporate decision-making in uncertain contexts.
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