1 / 16

Innovation Network

Innovation Network. 19th January 2005 Building The Dragon How to accelerate the evolution of smart innovative businesses in Wales Chris Ready Economy Power. Creating a culture for success. Every organisation has problems to solve…. …we created a culture that enjoys solving problems!.

ziarre
Télécharger la présentation

Innovation Network

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. InnovationNetwork 19th January 2005Building The Dragon How to accelerate the evolution of smart innovative businesses in Wales Chris Ready Economy Power

  2. Creating a culture for success

  3. Every organisation has problems to solve… …we created a culture that enjoys solving problems!

  4. What is Economy Power • Formed in 1999 • Electricity supply company • don’t own power stations • don’t own pylons • Buy electricity from Generator • Sell to SME customers, only • Send bills and collect money

  5. Chris Ready – Head of IT • First employee • Couldn’t afford any PCs • No IT qualifications • Track record of solving problems

  6. What were the problems for a start-up company • How we created the can-do culture • Rewards it has brought • Partnerships • Conclusion Brief outline

  7. Problems we faced • Entered an established, bureaucratic industry • Privately financed with limited funds • High-profile failures of new competitors • No customers • Little experience of electricity business

  8. Create the Can-do culture • Decided not to copy the way the electricity industry worked • Recruitment of “industry-experts” kept to a minimum • Problems seen as Opportunities and addressed NOW • Had to throw brains rather than money at problems • We needed a set of principles that would endorse the way we were to work …. and so The EP Way was born

  9. Creating a fun place to work Exceeding what is expected Encouraging creativity, innovation and team work Promoting a fast-paced, competitive, entrepreneurial culture In addition….. The EP Way Our company believes in….

  10. Create the Can-do culture(continued) • Staff to bring something additional into the company • Praise not blame culture • Flat management structures • Investment in training • IT department would have to deliver every time

  11. We created an incredibly vibrant atmosphere where we believed we could do anything ! Which also meant that no problem was too big to handle And the term ‘ j.f.d.i.’ became part of EP folklore

  12. Rewards it has brought • Company has not gone bust !!! • Won the Fast Growth 50 in 2003 - with unprecedented growth in the history of the competition of 10,000% • Won Computer Weekly Best Places to Work in IT in 2004 • 76th in Wales’ top 300 companies in 2004 • Created our own green energy company – Eco2 • 100% of company shares are for directors and employees

  13. Progress through Partnership • Bank of Wales (now Scotland) • Grant Thornton • Sales Brokers • BNFL • Universities of Cardiff and Glamorgan

  14. In conclusion Economy Power is the leading independent electricity supplier in the UK • We have a 5% share in the SMEs market • We have turnover of £100 million and 300 staff • We make £5 million profit after tax • We own a green energy company Finally…

  15. Promoted a fast-paced, competitive, entrepreneurial culture Luck In conclusion (continued)

  16. InnovationNetwork Next Event: 23rdFebruary2005 Ian Jones (Cardiff University) Permission To Think A creative thinking special event To register: innovation@cardiff.ac.uk

More Related