Strategic Market Entry: Launching SUNRUN Inc. in Brazil's Solar Energy Sector IB3022

Global Strategy Immersion Project (GSIP)

GROUP - 2

Faculty:

Dr. Bhanu Ranjan (Assistant Dean)

Dr. Usha Chavali (Academic Manager)

Phase 4: Group Journal
TITLE:Strategic Market Entry: Launching SUNRUN Inc. in Brazil's Solar Energy Sector 2024

Table of Contents

Executive Summary

Reflections on an Unforgettable Journey

2-Pager:

Phase-1 Proposal/Outline:

Phase-2 Presentation:

Phase-3 Report:

Growth and Adoption of Group Dynamics

The Highs & The Lows within the TEAM

Embark on the GSIP Journey again

Conclusion

References

Executive Summary

Over the last three and a half months,Group 2has worked as external consultants forSunrun Inc., a leading solar energy company based in the USA, to assess the feasibility of entering Brazil's solar energy market through a strategic expansion initiative. The team conducted extensivemarket research, evaluatedcompetitive forcesinfluencing the renewable energy sector, and proposed strategies forgrowthacross multiple strategic horizons.

The group presented their findings during a group presentation on6th November 2024and submitted a detailed report on2nd December 2024. This journal reflects upon the team's learnings and experiences during the execution of the Global Strategic Immersion Project (GSIP).

The report captures:

• Theinsightsandexperiencesgained throughout the project.
• A reflection on the teamsjourney, includingmilestones achieved, challenges faced, and how these were overcome.
• Lessons learned and what the team wouldapproach differentlyif tasked with a similar assessment in the future.

This comprehensive report showcases the team's ability to navigate complexities and provide strategic recommendations for market entry and growth inBrazil.

Reflections on an Unforgettable Journey

Throughout the whole process of GSIP, the team used the knowledge and skills which were acquired during the modules of theExecutive MBA program. Frameworks used by the team to key concepts that were discussed throughout course, enabled development of a detailed report. The following is time-line based learnings that were applied by the team during each phase.

2-Pager:

In the first phase of preparation the team was given phase wise guidelines and was asked to create a 2-pager document stipulating the country chosen and its reason, the industry/sector/company chosen and its reason, and three key strategic issues that could be faced by the company and the country respectively. The team met a couple of times virtually, prepared a shared document and enlisted ideas & options that could be considered for the project. After much deliberation and brainstorming the team agreed upon SUNRUN Inc.

The team was already familiar with each other from numerous group assignments did in the past which helped in collaboration. The learnings from courses likeStrategic Finance, Strategic Management and Strategic Marketinghelped in identifying the strategic issues faced by the company.Business Economicshelped us further drill down the industry and sector and topics likeBlue Ocean Strategy,Cross-Cultural Managementguided in finalizing a suitable country where Sunrun can be launched. Considering the favorableclimate,geo-politicalsituation andgovernmentpoliciesBrazilwas an ideal choice team agreed upon.

Phase-1 Proposal/Outline:

In this phase, the core concepts ofStrategic Managementwere adopted to conduct thePESTELanalysis, theSWOTanalysis andPortersFive Forces analysis. These tools were important in evaluating the competitive landscape and identifying the correct generic strategies. Information gained from courses such asPersonal Effectivenesshelped the team to make acquaintances and interviews with some of the global industry giants. Furthermore, concepts from the coursesStrategic FinanceandManagement Accountingsupported the evaluation of financial information, which is an important step in making decisions.

Phase-2 Presentation:

The presentation was a testimony of skills acquired during the entire journey of the course. The team utilized skills learned fromNCRMandPersonal Effectivenesssessions to pitch in ideas impactfully in a limited timebound manner and structured the slides precisely to convey the content. The goal was to convey teams strategies and recommendations effectively to the audience. Using frameworks like theBalance Score Card,Business Canvas ModelandGap Analysisteam was able to pitch the idea in a more balanced and substantial way.

Phase-3 Report:

Incorporating the constructive feedback received in all the phases and 1-on-1 mentoring sessions, along with research done, the team was able to compile the final report for this phase. The takeaways helped in shaping concepts like Recommended Strategies, Gap Analysis and Action plan. The team did a thorough analysis of current & future financials based on learnings form course likeStrategic Finance&Business Economicsand leveraged Business Model Canvas fromInnovation & Entrepreneurshiphelping the team in deeper understanding of the business structure. A detailedcompetitive analysisof various industry players inBrazilhelped define the business strategy more precisely.

Using consultant material provided during GSIP helped the team to look at cases from the consultants angle. These materials were beneficiary in the identification oforganizational requirementscurrently, advising theimprovementof organizational operations and even creating elasticity to recommend changes in operational structures for improved performance. They also offered guidance on implementing projects, managing change, and maintaining long-term success strategies.

With reference to Resile (1999), the concepts of low hanging fruits and Hitting Singles were adopted to foster the tenet of celebration ofsmall successesthat came with sustained progress. This mentality raised the spirits and encouraged people to come up with ideas no matter how minuscule they seemed, to make large differences in the end. Moreover, the rule about admitting I dont know(Resile, 1999) enhanced professionalism and cohesiveness because all unaddressed issues were discussed within groups to encourage group accountability and honesty.

One of the most impactful lessons was drawn from the article The Consultant Calling, particularly the idea that consistent hard work is the cornerstone of success. The team realized that their growth was limited only by their own efforts. Fully dedicating their time and energy to the project led to both personal and collective success, making the journey immensely rewarding

Growth and Adoption of Group Dynamics

Figure1: Tuckmans Team Building Model

During the GSIP, the team real-time implemented Tuckman's Team Building Model (Stein, 2019). In theFormingphase, individual members came well-equipped with industry expertise and were already convenient with what their roles were. This stage involved building familiarity as well as establishing group norms. Members cooperated to exchange information and align goals.

In the transition from Phase 1 to Phase 2, disagreements and lack of understanding pushed the team into thestormingphase. This stage included conflict resolution and developing group dynamics. The leader had to set expectations and steer the group toward a common goal. Skills learned from theNegotiation and Conflict Resolutionmodule were very important in conflict resolution and growth as a cohesive unit.

During thenormingphase, trust, cohesion, and mutual respect became apparent. The team embraced each other's differences, recognized strengths, and focused on shared goals. Communication became more collaborative, fostering efficient problem-solving and faster decision-making. By the reporting phase, the team was ready to move into the performing stage, characterized by high trust, interdependence, and productivity.

Working in Teams Within Teams:The team adopted a buddy system to ensure seamless task execution, with backups stepping in when necessary. This strategy enhanced reliability and ensured timely completion of all assignments, accommodating the teams professional and personal commitments.

Communication and Harmon:Initially, the team tested communication styles, focusing on genuine and open interactions. Respect for diverse work processes allowed concerns to be raised constructively, promoting harmony and productive meetings with clear outcomes.

Organized Approach:This approach for managing the project strategically allowed for the adoption of industry best practices in project management- schedule, risk, quality, and knowledge management to achieve delivery success.

Democratic leadershipwas chosen to standardize communication and processes. Leadership through respect, as applied through empowerment principles, empowered the team by supporting and elevating everybody towards a collaborative and motivated working environment.

Team Dynamics and Collaboration:The team was inspired by Napoleon Hill's philosophy of using individual strengths for the success of the whole team. Each team member believed in it and rose to the occasion leveraging each others strengths.

For instance, the knowledge of Finance & Accounting shared by one member, and other members contributed through extra research and learning material. It ensured building confidence in the whole group as they understood the project entirely.

Knowledge Sharing:From the beginning, it was agreed to share expertise with each other on marketing, project management, and leadership. Each decision made was articulated with its reason, making the team learn strategically in client-centric decision-making.

Team members developed several core competencies:

• Positive Relations and Good Communication:Maintaining strong relationships and being able to express ideas effectively.
• Active Listening:Developing an understanding of client needs to adapt solutions accordingly.
• Organization and On-Time Delivery:Maintaining focus on timelines and results.
• Flexibility and Creativity:Innovating solutions to respond to client challenges.

This along with vibrant teamwork helped the group to succeed in the GSIP.

The Highs & The Lows within the TEAM

Fortunately, all the team members worked in the same time zone but had professional commitments that initially proved to be challenging. The team was mature enough to identify this early and a biweekly call was set up. Every call ended with the time and date agreed upon for the next call and agenda. A tracker was maintained withMOM(attached in references), action items and deadlines to streamline the entire journey of GSIP. The team continued the same till date that resulted in better work management and the momentum of the team. Mutual Respect and consideration fostered a worthy collaboration resulting in a team investigating uncharted territories of a new market segment and meeting the project deadlines.

Each member was excited to explore and taste the unknown waters of a completely new Industry and a very little informed country. They did their own research, own exploration and reached out to industry experts for more insights. Regular quick connects, reaching out to struggling peers and helping each other in times of need allowed us to finish on time. This cohesive teamwork was evident when the team showed up in professional attire with Blazers and common background during presentation, showcasing harmony, growth and professionalism of the team.

Embark on the GSIP Journey again

Conclusion

References

1. Rasiel, E. M. (1999).The McKinsey way: using the techniques of the worlds top strategic consultants to help you and your business. Mcgraw-Hill.
2. Stein, J. (2019). Using the Stages of Team Development. MIT.https://hr.mit.edu/learning-topics/teams/articles/stages-development
3. MOMl