Conclusion
As of 2019 with all major elements of DONG Energy’s transformation to Ørsted being complete, we have evaluated it to be a successful rebranding, with very few oversights.
The main goal for Ørsted were to rebrand from a company widely associated with fossil fuel energy, into a company associated exclusively, or at least primarily, with green energy and sustainability. The drivers for this desire to rebrand were found interlinked internally and externally, primarily relating to the increased awareness on the climate, and
subsequent wish for green and sustainable energy. Among the internal drivers we found the most important to be the new company values and divestment. It is our assessment that Ørsted succeeded in rebranding to a green energy company, but also worth noting that it is a continuous process, and that Ørsted need to keep up the good work and stay on message to further its goal. Ørsted’s secondary goal related to regaining the trust of the Danish people, which had been very low in the preceding years due to controversies surrounding DONG Energy, found in the external drivers. In order to complete this goal, Ørsted focused on a Danish and responsible identity, carried out through many different aspects of the organization. We conclude that it did manage to create a Danish and
people, and there Ørsted also needs to stay on message on promote this side of the brand continuously. Generally, Ørsted has followed the established best practices for rebranding and benefited from it. The only noteworthy oversight was not to ensure the legality of the use of the name Ørsted, prior to choosing and announcing it, which has led to a lawsuit that is still ongoing. All in all, Ørsted has good brand equity, and appears as a Danish, green and responsible energy company, although there is room for continuous
improvement, and a looming threat from the ongoing lawsuit.
Further perspectives
The biggest and most interesting unanswered questions relating to the Ørsted rebranding case are what the name lawsuit will end with, and if Radius will be sold. The name aspect has been covered in this thesis, but we have been unable to conclude anything, since it is still an ongoing process. Furthermore, it is impossible to predict anything with any
certainty, since this type of case has not been tried in the Danish juridical system, meaning there is no precedent to go after, which is why even experts on the field are reluctant to make clear predictions. All that can be done is to wait and see, and as stated before, if Ørsted was to lose the court case it could have immense negative implications on the brand, potentially forcing the company to rebrand yet again.
As for the sale of the electrical distribution company Radius, which is owned by Ørsted, it has been out of the scope of the paper to cover it. Nonetheless, it is an interesting aspect to look into, since Ørsted is so adamant about selling it. The reason for this is most likely for Ørsted to streamline itself as solely an energy producing company, and not an energy distributing one as well. There could be various reasons for this, such as having a clearer image and identity, or not having a double role or conflict of interest in relation to the energy consumers. Nevertheless, the fact remains that the sale of Radius was blocked initially by the Danish politicians, but that CEO Henrik Poulsen recently stated that the plan is still for Radius to be sold in 2019.
Another interesting point which has not been the focus of this paper, and therefore only slightly touched upon where relevant, is the international side of Ørsted. A whole thesis could be written with this being the main focus, and therefore we have decided to leave it out due to our limited pages. With this being such an extensive point, there is much that could be drawn in and focused on. One element is the perception of the brand Ørsted
abroad, for instance with different cultures in mind, which would be especially interesting in regards the point of Danishness. Another element is the expansion to different markets internationally, particularly what challenges it entails. For instance, the American market is one Ørsted has shown great interest in and is rapidly expanding in, and looking into what effects it has when President Donald Trump says: "And they say the noise causes cancer.”
when talking about wind turbines, among other claims in what is dubbed “Trump’s war on windmills”. Likewise, it is interesting to look at Ørsted’s potential expansion to the east, and how or if the company will deal with companies not living up to the high standards set by Ørsted, particularly ethical standards.
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