EVN in Bulgaria, "Eastern Fantasy" Meets Eastern Reality
The case reflects on the strategic decisions to implement the growth and internationalization strategy of EVN, an Austrian energy retailer. EVN needed to respond to change competitive dynamics created by the market liberalization enacted by EU law in the 1990s. EVN's management saw a growth opportunity in the Eastern European markets that were underdeveloped but were expected to catch up fast as a result of their admission to the EU. EVN soon finds itself exposed to a number of political, cultural, economic and technical forces that challenge its ability to execute its growth strategy.