Cut costs and help the environment
With rising energy prices and a growing awareness of the environmental impacts of traditional energy sources like oil and gas, a responsible energy plan is more important than ever for businesses that are looking to increase their energy efficiency and cut their costs, while at the same time reducing the environmental impact of their energy consumption.
Designing a responsible energy management strategy that can help companies meet these goals requires a broad range of skills and knowledge, including a deep understanding of energy markets, a strong grasp of energy models to project the level and structure of future supply and demand, and a familiarity with the dynamics of 21st century energy geopolitics. Executives with an interest in energy management can acquire just this type of expertise through an MBA in Energy Management, preparing them for a career as a leader within the rapidly evolving global energy sector.
If you think you might be interested in training for a future in energy management, here’s a quick overview of why business courses emphasize responsible energy management strategies, and how these strategies can help businesses lower consumption and improve their bottom lines.
Businesses looking to save money need to have a responsible energy plan. With rising energy costs, a business’ energy expenditures can represent a significant portion of its costs, and with the right strategy, these costs can be greatly reduced.
In addition to reducing costs, the right strategy can greatly lower a business’ environmental impact. This can be achieved through reduced consumption and increased efficiency, but also through increasing a business’ reliance on clean and renewable forms of energy, such as wind, solar, and hydro power.
Reducing a business’ energy costs often requires more than simply upgrading to more efficient machines or changing energy providers, however, as students taking business courses in energy management know.
When designing a responsible energy management strategy, one important consideration is whether or not a business has sufficient measures in place. Without being able to accurately track energy usage, it may prove difficult to find those areas where efficiencies can be introduced.
Changing employee behaviour can likewise be an important element of developing a responsible energy management strategy, as simple actions like turning off unused lights or equipment can represent significant gains when multiplied across many employees, in many locations, over many days, months, and years.
Responsible energy management strategies consider more than the current price of a given energy source and current usage rates. In order to build a strategy that provides benefits in the long-term, companies need to think beyond these immediate concerns and short-term energy and cost reductions, and also consider factors like efficiency, future rates, and rate stability.
In order to create strategies that can save costs and improve environmental outcomes not only in the short-run, but over the entire lifetime of a company, professionals with an MBA in energy management draw on the expertise they’ve developed through their education, which covers a broad range of subjects, including energy and managerial economics, energy trading, policy and market relations in global energy markets, and environmental management.
Are you interested in persuing a career in energy management?
Contact WU Executive Academy to learn more about our professional MBA program.