Purpose – The MA thesis investigates how Suzlon Energy Australia (SEA) can increase its market share on the Australian market through identifying its stakeholders and their values. It is important for the company to focus on stakeholder relations and the market it is operating in due to stakeholders’ influence on the demand for sustainable energy. SEA needs to be aware of other factors that can influence the stakeholders’ demand for sustainable energy such as economy and cultural values. Design/methodology/approach – This thesis explores SEA’s stakeholder relations by identifying key stakeholders and their values, and investigates how SEA can change its approach to its stakeholders. In order to challenge the stakeholder theory in how to identify connections and interaction between the company and among stakeholders in relation to economy and cultural values this thesis introduces a new approach towards the theory illustrated in a model. Findings – Through discussing and analyzing the thesis statement, it was concluded that the two key stakeholders, the public and government, have a significant influence on the demand for wind power. This is due to their postmodern values which have an effect on the energy companies’ purchase and investment of sustainable energy. The public will put pressure on both the government and companies because the public is well informed about environmental problems and climate change which in the end will be an advantage for SEA. The government is an important stakeholder due to its authority to reform the environmental legislation, its ability to put the climate change on the agenda and to inform SEA’s other stakeholders about the environment. The government has the opportunity to influence SEA by supporting sustainable energy which means that SEA can increase its market share. SEA’s task is to convince the public and government that wind power is beneficial for everyone; the society’s economy and environment will profit from it and it will generate jobs in the long-term. It is also concluded that the values of society is a factor that has an influence on the demand for sustainable energy. Values have an undeniable influence on the stakeholders’ choice of energy. The postmodern values in the Australian society will benefit SEA and the rest of the sustainable energy industry. SEA should use this knowledge to make a strategy for managing its stakeholder and identifying each of its stakeholders by mixing stakeholder theory with marketing to integrate a set of relations into a model of marketing interactions. This will result in more opportunity for SEA, and therefore a chance to create value and communicate the correct messages to its stakeholders through its marketing materials. Research limitations/implications – Stakeholder theory is limited due to its lack of a way to measure the results of stakeholder relations. When using stakeholder theory the results can be subjective and intangible. Furthermore, for receiving more accurate conclusions the thesis should have been based on an analysis of all of SEA’s stakeholders. Originality/value – This thesis considers a different point of view in regards to stakeholder theory. It provides an extended stakeholder mapping model which companies can use to get a comprehensive analysis of their stakeholders.
|Educations||MA in International Business Communication (Intercultural Marketing), (Graduate Programme) Final Thesis|
|Number of pages||88|