November 5, 2012 | In: Enabling Factors
The Nordic countries have a high number of start-up companies but are struggling with scaling their entrepreneurs, start-ups and innovations to global large-scale operations and companies. Yet, one Nordic company namely Denmark’s Vestas Wind Systems managed to become world-beater within the global wind turbine industry. But but after 2008 Vestas has experienced a near death experience and is struggling for survival. Vestas’ story holds important lessons for other Nordic companies, not only within the renewable energy industry. It will here be argued that had Vestas paid more attention to what the management guru Peter Drucker labeled the five deadly business sins Vestas might have avoided getting into dire straits.