Entrepreneurship Assignment Sample 2023
Introduction
The purpose of the report is to conduct detailed market research and analysis for setting up a new business to exploring existing opportunities for the business based on the market study.
The report aims to critically evaluate the commercial viability of the product and subsequently develop a detailed business plan based on relevant models and theories.
The report is segregated into three parts, namely, idea generation that critically analyses the product innovativeness and business sustainability based on the market analysis, organizational culture that studies organizational governance, team effectiveness, resources, core competencies, and thirdly, external market analysis and financial viability. The chosen company for the business plan is Natel Energy and investment in the hydropower sector of the United Kingdom.
Idea Generation
Industry and Company Overview
Presently, the United Kingdom possesses the installed capacity for hydropower of over 4500 MW that includes around 2700 MW of pumped storage. Despite the huge potential in hydropower, there has been a limited expansion in the sector in terms of small-scale applications with the exception of projects based on pumped storage, mainly due to the lack of suitable sites.
Hydropower accounts for approximately 1.7% of the total electricity supply of Britain till 2017, which makes it the fourth-largest renewable source of energy after wind, tidal, and solar power. Thus, it is evident that although there are certain constraints in the hydropower sector in the UK, yet there is the untapped market potential for establishing a new business venture.
The chosen company Natel Energy is an American company with headquarters in California and provides low head hydropower systems. The company was established in 2005 and is funded by the US Department of Energy as well as the Small Business Innovation Research Program for supporting the commercialization of its unique technology of hydro engine (Hydro™, 2017). The company focuses on transforming the way a hydropower project is built as well as operated for ensuring sustainable, cost-effective, and climate-resilient hydro.
Product Innovativeness and Sustainability
For venturing into the market of the UK, particularly in London, it is important to analyze the innovativeness of the company products to ensure a competitive advantage over the competitors in the target market. Natel Energy usually specializes in three aspects, namely, Turbines, Hydropower projects, and Analytics.
It sells the safest, high-performing, and compact turbine runners across the globe and these render cost-effectiveness to the hydropower projects and convenience in project construction. The company upgrades outdated hydro assets as well as design them into innovative systems based on the principle of Restoration Hydro for generating the most reliable and renewable energy, thereby enhancing the function of watershed.
The company also provides effective support tools that are powered through machine learning for effective operations and calculative planning with appropriate forecasts in any location on earth.
Moreover, Natel Energy has developed low-head turbines that has been designed and installed as a part of cost effective plans or projects for generation of renewable energy and also for provide various kinds of environmental benefits which involves restoring of watersheds.
These machines have been planned to be installed at the greenfield sites and is generally used for retrofitting of low-head plants. Moreover, the designing of the turbine aims at improving the performance with the safety of marine anima life as well (Markkanen, 2019).
Moreover, Natel energy has planned for compact footprint that aims at reduction of the cost of instllation by almost 20%in comparison to the conventional options of low-head cost. In addition to this the construction cost of these power plants is lowered as it requires less amount of steel and cement. According to the managerial team of Natel Energy civil works are allowed to be ada[te according to the specific site.
Theturbines of the company allows safe passage of the marine animals like fish. This has become a stringent requirement of the environment in these category of projects.
Market Analysis – SWOT Analysis
As Natel Energy aims to set up projects in the United Kingdom and capture the energy sector there, the business plan is to set up a home-grown aquaponics ranch to produce organic crops in the most sustainable manner (Markkanen, 2019). To finalize the business plan, the company needs to conduct thorough market research and analysis based on an analytical model.
Strengths
In the UK, the infrastructure will act as a major strength for the company. During the construction of the hydropower project, environmental as well as social impacts are severe at every stage.
The huge construction work involves setting up engineering structures like dams, roads, tunnels, weirs, electricity transmission lines, etc. With an effective infrastructure system, the company would find it convenient to set up projects in the UK. Another aspect of strength is that adequate resources are available in the UK to support hydropower projects.
Moreover, the CEO of Natel energy said that in the year 2019 the HydroForecast would provide a total seasonal forecast to the main utility customers and the level of accuracy would be 25%v more than the last time. This is how the company creats value for the customer by providing them with seasonal forecast and helps in reduction of environmental pollution thereby saving the marine life as well.
Natel Energy functions in accordance with proper rules and regulations for saving of the environment.various models, concepts and frameworks are being used for the justifying the link Natel Energy creates with other businesses around the globe.
Weakness
A weakness for setting up large-scale hydropower projects in the UK is that the environmental impacts will be considerably high, and this may hinder the effective implementation and compliance with environmental laws of the UK. The adverse consequences of such projects may be related to natural interventions owing to damming of water, construction of power lines or roads, and changing the flow of water.
Opportunities
The uplands of Britain with the wet climate of the mountainous terrain are suitable for the establishment of hydropower projects that need a conversion of stored potential energy within the water at a height into kinetic energy for driving a mechanical shaft that runs an electric generator.
The geographic locations of the UK make it aptly suitable for the company Natel Energy to utilize the benefit of its renewable technology at a wider scale. Another opportunity for the company in the UK is that the country has untapped opportunities in the energy sector, especially in hydropower, and the UK has a target to enhance its generation of hydropower by at least 10% by 2022 (Frankowska, 2019).
With a huge supply of electricity to the national grid, the UK would successfully satisfy all its energy requirements to meet all renewable targets. Local people will benefit from the venture and become increasingly aware of the climatic changes as well as renewable energy.
Other than the hardware requirement the subsidiary of Natel Energy that is Upstream Tech also deals with the software solutions that provides support regarding decision for the stakeholders of watershed and includes the utilities of hydropower, for designing, building, restoring, upgrading, and optimizing of the utilities of hydropower and infrastructure of watershed for the need of climate resilence (Markkanen, 2019).
Organization Culture
Resource Utilization and Competitive Advantage
For any business set up, achieving competitive advantage refers to a combination of several strategic actions, one of which is optimum resource allocation. When a business excels in managing its resources in the most efficient manner, it becomes an important factor that enables a company to outperform all its competitors.
This results in attaining higher margins as compared to other competitors, which generates increased value for its shareholders. In the case of hydropower projects of Natel Energy, the most essential resource is the supply of water. Although there are other factors as well such as climatic conditions or infrastructure, yet when the supply of water is immense, a hydropower company enjoys the benefit of uninterrupted water supply.
A vast majority of hydropower in the United Kingdom has usually generated in Wales as well as Scotland at various hydropower plants, which are located nearby the dams and reservoirs across the countryside highlands of Scotland and Welsh.
There is an ever-rising competition to accessing water resources due to intensifying growth in population, declining water quality, economic development, and climatic changes.
Consequently, this has led to the policy agenda of how water resource is being allocated and utilized by government and corporate entities. Increasing pressures upon water resources have increased the value of its allocation regimes, which are known to perform across varied ranges of conditions and can adjust to altering conditions at a minimum cost.
The aspect of allocation regimes usually decides who can use water resources and in what manner. It is strongly conditioned with historical preferences as well as usage patterns, which trace the roots to earlier decades.
These tend to exhibit a greater extent of path dependency that manifests within policies as well as laws, and also in operational regulations of infrastructure (VERMA, 2017). Naturally, usage of water resources is no longer considered valuable in the present era as it was used to be, and so the shortage often falls on specific users in a disproportionate manner.
The associated challenges of inappropriate allocation of water resources are bestowed on the entrenchment of ineffective water policies like unregulated use or under-pricing water.
In fact, effectively-designed resource allocation regimes often contribute towards achieving of multiple other objectives, such as economic efficiency, with the allocation of resources to high-end users who would contribute to significant innovation as well as investment in enhancing water efficiency, environment causes by securing proper flows and supporting ecosystems, and also by increasing equity through sharing the risk of water shortage amongst users.
In context to Natel Energy, some of the competitive advantages may be pointed out, such as easy accessibility to natural resources, especially water for hydropower projects that cannot be accessed by its competitors, highly-skilled workforce, unique geographic locations, proper accessibility to innovative technology, the capability to operate at a lower cost, and initiatives to brand recognition.
Our analysis indicates that Natel Energy, as a hydropower company, is best suited to set up its projects in the UK for all the mentioned factors. Although the UK has been facing a serious issue of the water crisis in the past few years, yet water availability near the countryside such as Welsh and Scotland will ensure adequate water supply.
The uplands of the UK will be beneficial for Natel Energy to set up its projects with ease. Additionally, the UK is known for its high-end infrastructure that would support the hydropower projects of the company.
Three systems have been developed by Natel Energy that enables cost effective production of distributed, low impact and renewable energy of reliable nature. Moreover, it maintains the health of the watershed in the ecosystems and the societies or the communities surrounding it. Moreover, hydroengines have been designed for the low heads to the high flows. Moreover, electricity is generated at $0.05 or less for the project sites that are less than 1 MW.
Restoration hydro is also another framework of innovative development incorporating the concept of bio mimicry in the waay of low-head and the structures are sited strategically that proves for ecological function nad restoration of watershed.
Upstream is another software platform of Natel Energy that provides various services that monitors and measures the amount of natural resources for the effective implementation of projects. Moreover, it allows various screening, efficient siting, monitoring, development and operation of the sustainable resources, up-to-date and accurate analysis of the warter resources for the arer investpors and conservation entities (VERMA, 2017).
The company uses the advanced cloud computing and internet of things for creation of system that monitors, manages and predicts the needs of the various department of Natel Energy.
The software solution of Natel Energy aims at removing or eliminating the barriers associated with building of automation with a software system that helps in improving the comfort of commercial building, the air quality indoors, efficiency of energy in the most cost effective manner. Moreover, the control systems of traditional buildings are over built and hence requires resources extensively for custom program, installation and maintenance.
It involves creation of ownership and the cost of acquisition. By the use of 75Fs Natel energy uses integrated suite of various wireless sensors, smater thermostats, controller of equipment and the company’s cloud based delivery of software leads to fas functionality and creates results in the creation of out-of-the box. Natel energy and few other companies are named as the Disruptive company of the World in the year 2017 (Zoufa, 2016).
Strategies for Competitive Advantages
The company can successfully develop its unique competitive advantages with three distinct strategies, namely, cost leadership, product and service differentiation, and focus strategy.
Cost Leadership
Within this strategy, the purpose is to develop projects and deliver outcomes at the lowest possible cost. This can be achieved with large-scale supply to realize economies of scale. When the company can utilize economies of scale at comparatively lower pricing than its competitors, then it may effectively decide a selling price that may not be replicated by competitors. Thus, if Natel Energy adopts such a cost leadership strategy, then it would reap profits owing to the cost advantage over all other competitors.
Differentiation
Within the strategy of differentiation, the company’s services will be differentiated from other competitors. This is achieved by supplying high-quality services and products to business clients or customers or through innovative initiatives. On successfully differentiating its products as well as services, it would be able to decide on the premium pricing of its output.
Focus strategy
As per this strategy, a company is said to focus on a narrowed target market. Strategy b becomes effective if a company creates products or services that largely cater to these target segments. This strategy has two aspects, namely, cost-focus and differentiation focus.
The main competitors of Natel Energy are Canyon Hydro, Rain Power, Lucid energy, Rainpower, Canadian Hydro components. There are various technologies that are used by Natel Energy such as Font Awesome, Word press, cloud platform of google, and google analytics. The competitive advantage strategies are built against these competitors of natel Energy.
In the recent times there have been a demand for orgabnic food s by various customers for the maintenance of self hygiene. The company’s competitive advantage lies in the fact that the company manufacturers serveral products. The products of Natel energy are fish friendly, have the draft tube short, very less cavitation risk and the product is compact in structure. The products of Natel Energy finds its application in various areas such as in Z type tube, Axial pit, in radial open flume (Zoufa, 2016).
Team Performance Effectiveness
Megaprojects like hydropower projects are constructed on a large scale and the operations require a highly-skilled and competent workforce. For Natel Energy to set up power projects in the UK, it would require to lay greater emphasis on the human resources, especially the project teams that would engage in the setting up and running of the projects. In this context, the performance of teams would be of higher significance and their level of efficiency would decide the company’s success.
The team of Natel Energy comprises of technically diverse as well as experienced in areas such as product development, commercialization, and renewable energy. There are project leaders, corporate executives, turbine engineering team, project sales team, digital solutions team, and other support services team. All the teams are required to work in collaboration to achieve a common set of objectives.
The organizational management in coordination with functional heads and team leaders should define strategies and execution plans to enhance the performance effectiveness of project teams and other associates. Improving the performance of a team requires an increased level of conviction, commitment, and leadership abilities within a team (Michinov, 2018).
Once these attributes are achieved within a team, the team leader needs to conduct participative discussions regarding specific changes that could be brought about within the team dynamics. Inputs from team members must be collected and constructive feedback should also be provided to the team to ensure their commitment and performance effectiveness in the new processes.
Defining goals and setting action plans – Since the company aims to invest in the UK to set up large-scale hydropower projects, the foremost task is to define clear objectives based on company vision and mission, and accordingly set action plans that would be effectively aligned with the company objectives. When teams possess well-defined performance objectives, action plans, and individual targets, it becomes easy for them to perform in the best manner.
Clarifying roles and responsibilities of team members – Team leaders need to determine the roles as well as the responsibilities of team members with the utmost clarity to ensure effective performance.
Project schedule and time management – When a project is scheduled, it must consider aspects like target location, resource availability, government policies, environmental aspects, project feasibility, infrastructure, technological advancements, project deadline, workforce competencies, etc. These factors enable proper scheduling and time management tactics to be following while undertaking the project.
Conducting meetings with clear goals – To ensure effective team performance, team leaders need to conduct regular meetings to discuss project schedules, timelines, and delegation of responsibilities, performance feedback. There should be increased clarity in the pre-defined goals and their communication with team members.
Appropriate exchange of feedback – A team can perform efficiently only when appropriate communication channels are maintained within teams to have an understanding of mutual responsibilities. Feedback from the team leader or superiors helps in setting the right course of action and to sync individual performance with organizational objectives.
Monitoring team communication – Effectiveness of team performance can be improved through monitoring team communication, measuring interactions, observing conflicts, and demonstrating mutual understanding.
Analytical Model (Core Competencies)
For analyzing the organizational culture of Natel Energy, the competency model may be suitably applied which entails overall competencies that altogether determine the potential for excellent performance within the project setting.
The competency model forms the basis for human resource functions in an organization, and so, the model would emphasize Natel Energy’s human resource management function right from recruitment and selection to performance management. This is because the talent pool of a company decides the fate of organizational performance in the end.
The company has achieved four awards of Energy Department financial assistance ever since 2009, SBIR (Small Business Innovation Research) awards, and also in water power program funding opportunity.
All the appreciations have enabled the company to successfully commercialize its advanced technology. With the HydroNext initiative that aims at developing the next-generation hydropower technologies, the company Natel Energy has been contributing towards bringing a change in the perception of hydropower as being sourced from large dams (Zoufa, 2016). As it has a mission to eliminate adverse climatic changes by building a climate-resilient technology that supports a cent percent renewable grid through a hydropower backbone.
Changes in climatic conditions affect water supply, and hydropower is placed at the confluence of climatic mitigation as well as adaptation. Generally, hydropower is considered as a key component of a low-carbon renewable grid due to its reliability, complementary generation, and flexibility attributes to the wind as well as solar energy.
These projects also largely depend on watershed function with substantial impacts. Besides effective human resource management functions of Natel Energy, its core competencies also include technological solutions for effectively addressing factors like operational challenges, cost, and environmental threats at the center of exposing additional sustainability of hydropower generation.
Economic Theory and Concepts
Ferc’s Economic Analysis
The economic analysis of Ferc regarding the relicensing of hydropower projects involves assessing costs as well as benefits of initiating a project under several proposed conditions as well as functional mode. Proposals of relicensing may range from continuous operations as permitted under the same existing license, to that of operating a dam under changed conditions or even removing it. Ferc has evaluated the value of development as well as non-development related to these alternatives for determining which one is the best alternative to benefit the public.
- Gross Power Benefit:The benefits demonstrate the ignored cost of replacement of a project that engages in power generation as well as dependable capacity along with reliable capacity another alternative source as well.
- Benefits of avoiding pollution:As compared to other types of power-generating techniques such as thermal plants, the generation of electricity from hydropower plants causes less pollution. It has been explained by Ferc where he considers avoiding pollution as a benefit of a hydropower project.
- Cost of Operation:The cost refers to any previous investment cost as spent on the project, future anticipated investment and existing cost of operations and maintenance.
- The benefit of Project Services:Apart from generating electricity, hydropower projects also reap other benefits such as flood control, irrigation, water supply, and that of river navigability.
- Cost of environmental practices:Several licensing decisions initiate operational conditions as designed for protecting, mitigating damages, or improving the quality of the environment. These changes often lead to direct or indirect costs and reduced values.
Business Plan
Vision and Objectives
The vision of the company is to generate power for the people of the UK by the installation of run-of-river schemes or dams and generate electricity through clean, pollution-free, and sustainable ways which could be further transferred to the National Grid. The company also aims to provide the people of the UK this clan energy while also maintaining safety, cost efficiency, network reliability, and customer service and employee engagement.
The project aims to increase the power generation capacity of the whole of the national grid of the UK as well as decrease the downtimes while decreasing prices of power and its consumption among the citizens of the UK through the uninterrupted power supply.
The company is aimed at cost efficiency in generating power through the run-of-river schemes as they are much cheaper to invest in than building dams and are also more sustainable for the community and also drives down the overheads of hydroelectric generation projects (Su, 2015). This would also help the community to get access to clean energy with better customer satisfaction, public safety in hydroelectric distribution as well as create jobs for the economy.
The vision of the company will also enable the UK to lower its carbon footprint as well as transition to a lower-carbon economy. The better supply and availability of electricity through generation will help the government to promote the use of electrical technologies and will facilitate the use of more electrical technologies in public transportation and services. Natel will also bring forth its various community projects and sustainability projects which will further help the communities involved with the power project to fund activities that will help to build a greener and cleaner future.
Marketing Initiatives
The hydroelectric project has to be marketed to three categories of target customers which include the government of the UK, the community where the project would be set up and the stakeholders who would be financing the project. The government marketing has to be very discreet and important due to the regulations and the bylaws which have to be passed by the project to get the clearance from the government (Hydro™, 2017).
The community and the people of the UK have to be also taken as potential target customers because they would vote for the project and even they have to be taken under consideration for the project to be cleared for implementation. Finally, the stakeholders of the company will also have to be taken as target customer who has to be assured that this project would bring in finance and investment for the growth and success of the company in the UK.
The UK government has a carbon plan where it aims to reduce the emissions by 18% by 2020 and to achieve this target, the UK has to coordinate in shutting down their thermal and nuclear plants and move towards more cleaner and sustainable means of power generation, which is the hydroelectric power.
Through the Natel hydroelectric power project, the UK government will not be moving one more step towards achieving their Carbon Plan, but will also profit from the revenue that the hydropower project will generate from the sale of the generated electricity as it will register with the UK governments Feed-In Tariff (FIT) scheme (Yalcin, 2017). After the project gets clearance from the government, it can be publicized in small bursts through newspapers and newsletters to the community where the project will be implemented.
A presentation would be made to the community where the project would be established and the member of the committees as well as the general public will be provided with an informative talk about the benefits of the hydroelectric project and also how it will benefit the community as a whole in reducing carbon footprint as well as producing surplus electricity for the whole community and region.
Before the ballot voting for the community clearance of the project, it would also be advantageous for the company to announce the welfare schemes, charity funding of local projects, and welfare initiatives that the project will fund within the community as well as create new jobs in the area.
The long term income that would be generated from the project would help to build the community further and will also make it less reliant on the national grid for its power needs. The community should also be made aware of the negligible effects of the project on farming, fishing, or forestry in any form and would rather provide jobs to skilled educated youths of the community.
The stakeholders of the company have to be made aware of the revenue the project will generate through the sale of the electricity to the national grid as well as the support of the local community in the project (Agnolucci, 2017). The success of the project will pave way for building rapport and trust with the people of UK and the government which will also pave way for future projects in the country as they aim to further decrease their carbon footprint by 12% till 2025 which will require much more hydro projects to be implemented.
Operations Management
The operations of the project will be owned and operated by the Natel Company along with a co-operation with the chosen subsidiary company created by Natel itself but they will include the committee members of the community where the project will be made.
This will make the committee members of the community with a feeling of ownership and control over the project and will reduce the role of the Natel hydro electric Company in solving any local land or clearance disputes. Although the subsidiary company will have a 25% percent stake on the project the majority stake will be of Natel and operations will be controlled by the company itself.
The administrative and trading arm will be controlled by the Natel and the community subsidiary company will act as a stakeholder and consulting partner of the company.
The community committee subsidiary will also have the recruiting capacity in the hydropower project and the project will provide 45% of the total job vacancy to the skilled and educated population of the community (Braeckman, 2019).
They will also be placed at important positions of the management which will be directly supervised by the top management executives of the Natel Company. Although the managing director and chief engineer posts will be decided by the Natel Company certain seats will be provided at the Board to the community committee members.
Finance and Pricing Strategy
The project will generate revenue from the sale of hydroelectric power to the national grid through the process of Feed-in-Tariff payments. The company will be supplying electricity to the community at lower charges and will raise most of the Tariff from commercial customers.
A Power Purchase Agreement with a commercial supplier can also provide funding and generate revenue for the project. The project will be able to generate the construction and establishment costs in the first year of its implementation. The income of the project will be index-linked and the revenue is forecasted to grow by 10% every year.
As the operating and service costs are minimal in hydroelectric projects, the revenue is bound to increase with each year passing by as governments enforce more electricity consumption while reducing biogas or hydrocarbon utilized power consumption. The financial profits from the project will go towards funding community development as well as further projects in the UK.
Natel Energy deals with various types of products. In various range of settings restoration of hydro turbines are installed. It includes the retrofit of the old turbines. Moreover, it involves compliance with the environmental requiremnets at low cost, or improvement of outputs of the old units.
Moreover, it includes irrigation cannals, existing dams of non-power, new streams for reach developments (Braeckman, 2019). The Natel Energy’s RHT (Restoration Hydro Turbines) is a turbine that works on hydroelectricity combining the capacity of high performance, passage of safe fish and for simplified civil works a short draft tube.
The blades are specialised that is they are fish friendly which allows passage for fish without harming the marine life. The blades are specialised with low head of about 2m to 10 m. this technology helps in eliminaton or removal of the need for the creens for fine fishes and thus increases the efficiency of the total plant or the machine and reduces the maintenance and operation cost in both upfronts.
The single units have the capacities from 32kW to 1400 kW that plans in extending t larger units with time (Alavipour, 2019). The civil works are more simplified because they are compact and there is availability of configuration such as spiral case, pit, forebay and “radial-inflow open-forebay”. Moreover, the restoration hydro turbine offers a runner retrofit, that allows the installation o existing hydropower that helps in sfnificant improvement of performance of the environment without making any major or massive changes to the pevious infrastructure of plant.
Funding Options
The initial investment is expected to be made from the Natel Company funds so that this fund can be utilized to repay all construction, system commissioning, marketing, and land purchase costs.
Some of the funding could be loaned from the UK government schemes from community renewable energy loan schemes. Some grants could be obtained from the national grid of the UK and the carbon reduction commission of the UK government for renewable energy businesses and investment.
Some of the funding can also be raised through community shares and energy companies who are interested in the sustainable future of the community.
Necessary funding will also be allocated from shareholders and other providers of finance through the transition. A transition arrangement will be made which will help the Natel Company to maintain its strong investment-grade credit rating which will help to raise the necessary funds from the shareholders (Alavipour, 2019).
This will also help in reducing the volatility of the bills provided to customers after the implementation and will also help to complete the project at a lower cost of capital expenditure than forecasted. It should also be kept under surveillance that whether the equity metrics and the key credit lines are satisfied so that the investment requirements can be financed efficiently.
Potential Risks
No business exists or thrives without facing challenging and potential risks. Risks are the factors that enforce an organization to make strategic plans and take business decisions by taking into consideration certain external or internal challenges.
Hydropower projects are developed on a large scale and it requires an extensive amount of resources and planning to execute the strategic plans. Potential risks do exist for Natel Energy as well in the form of operational challenges. These risks are identified during risk-assessment analysis, whereby the company aims to identify the impacts of the existing risks.
The key risks involved in the hydropower projects are over-expenditure, funding scarcity, project construction risks, the volume of water resources. The factor of over-expense can be mitigated with careful budgeting at the initial stage of the planning by ensuring that every activity is executed at a pre-defined cost. When it comes to financial projections, there is always a chance of contingent expenses, especially when a project is built on foreign land.
The next risk factor is the scarcity of funds and this risk may be mitigated by effective pre-planning for identifying wider options for funds as well as ensuring every fund in optimally utilized in the project (Hamid, 2018). Another crucial risk in setting up a hydropower project is construction risks.
These risks are associated with the available infrastructure and construction planning. The risks of construction can be eliminated by engaging skilled and qualified contractors who possess excellent track records in previous work experiences with similar projects.
All of them must be well-insured and that the entire construction work should be thoroughly supervised by project supervisors or managers so that they can handle if any problem arises during the course of action. There should be slippage time to cope with arising adverse climatic conditions in the target location. Lastly, the supply of water or level of rainfall may pose a threat to the project.
The amount of power generated by the project is associated with the volume of water. This supply may vary and can affect the generation of electricity as well as business profitability.
Conclusion
From the above analysis, it may be concluded that although there are potential risks, operational challenges, and political threats for the company to get established in the UK, yet there are opportunities for the company to get recognized as a leading hydropower company globally.
There are core competencies of the company that may drive through the success of the project in the UK. As customers aim at shifting to sustainable business options and often willing to pay more for environmentally sustainable products and services, the company stands a chance to develop its business sustainably in the UK.
References
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Available at: https://www.natelenergy.com/
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Su, H., 2015. Comprehensive Evaluation Model of Debris Flow Risk in Hydropower Projects. Water Resources Management, 30(3), pp. 1151-1163.
VERMA, M. K., 2017. Diversion Tunnel of Hydropower Projects for Sediment Management. INTERNATIONAL JOURNAL OF EARTH SCIENCES AND ENGINEERING, 10(2), pp. 393-397.
Yalcin, E., 2017. The Tigris hydropower system operations: the need for an integrated approach. International Journal of Water Resources Development, 35(1), pp. 110-125.
Zoufa, T., 2016. Revitalising Safety Practices in Construction Projects: The Case of Nigeria and United Kingdom. SSRN Electronic Journal.
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