After an Initial Public Offering / IPO, our client, a multinational energy company, realised that its Offshore Wind division would be a key component to the future health of its business. Winning a higher percentage of the tenders it was bidding for and being considered a leader in the segment had become an organisational priority, and the client set the goal of securing multiple prestigious projects in the subsequent 24 months.
The client knew it needed a tailored piece of research, but it did not have staff with the time to design and execute it internally. Pangea was engaged initially to conduct a full competitor analysis, intended to give the client a greater grasp of the space. During the process, it also became apparent that ‘Wind’, as an emerging sector, has a limited pool of experienced, top-tier professionals. In order to be successful in the future, our client needed to make sure it was attracting the sort of talent that would allow it to grow into a big player. Thus, the project was additionally tasked with investigating what would make our client an attractive employer.
Pangea carried out a market map assignment on behalf of our client, analysing the client’s four major competitors as well as some smaller companies they were interested in. Based on analysis and excerpts from interviews with experts in the field – complemented by a small, anonymised, qualitative survey with those same experts – we delivered a report.
The analysis was made up of organisational diagrams; visuals depicting market positioning across geographies; graphs showing estimated resource share; and other relevant figures. Extrapolated, the client could see deep into its competitors’ development of their businesses. This included: operational cycles; approaches to innovation; and calculating Levelised Cost of Electricity / LCOE. Several strands that could be connected to assess how each bid were highlighted.
No individual interviewed was asked to provide confidential, yet-to-be-released data or discuss their current employer. In fact, they were specifically asked not to. Nonetheless, by engaging high-level professionals embedded in Wind, we were speaking to consultants who had already synthesised the publicly available information and could add their personal perspectives on top.
In short, we were able to quickly aggregate the knowledge and opinions of an array of genuine experts into a unique research output, designed to be a bespoke fit for the needs of the client.
It was an approach that proved extremely valuable. Pieced together as a mosaic, the report provided reliable intelligence on how businesses involved in Offshore Wind conduct bids and approach various issues around ‘best practice’.
Pangea delivered a full strategic research solution that enabled the client to make internal changes in the two areas of focus.
Improved Commercial Efficiency:
Primarily, our client had obtained the insights required to streamline its Offshore Wind business and improve efficiency in executing projects – enhancing its value offering to clients without compromising its own commercial position.
Recommendations For Innovation Initiatives:
Thanks to early identification of an extra theme and good communication with the client, who were keen on adapting the research to maximise utility, Pangea also delivered a detailed brief from experts within this highly competitive segment on the initiatives the client needed to implement to become a more innovative business and, therefore, a more desirable place to work.
Comprehensive Strategic Roadmap:
Armed with the knowledge required to make informed decisions, our client was able to devise a 10-year strategic operations outline, incorporating a refined approach to business development, as well as an overhaul in hiring strategy and organisational culture.
Through continued knowledge consultancy engagements and extensive Executive Search for senior leadership positions across four continents, Pangea maintains a close working relationship with the client, supporting multiple aspects of its growth.