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  • 1. NAMASTÈ SOLARTeam members – Sri Ganesh, Sangita, Vel Vikram, Gokul
  • 3. Introduction Year 2008. “Green renovation” Black Jones – vision ( Renewable energy company) Why Nepal… (Learned things right the first time) Namaste Solar. 3 SHRM - NAMASTE SOLAR
  • 4. Opportunity … RES IN 2004 Purchase of 10% supply of electricity by 2015 from renewable energy. Jones-business planning ,Kennedy-technical design & installation activities ,tuomey-marketing Decentralization, risk & rewards Incorporated in feb 2005 4 SHRM - NAMASTE SOLAR
  • 5. BUILDING A TEAM Recruitment was a challenge. This business was growing. Very less experienced people. Cheaper one is to go and pirate employees from other companies. (skill + philosophy)= good fit. Important thing – Long term commitment. 5 SHRM - NAMASTE SOLAR
  • 6. Cntd., Minimum 5 years for commitment towards job. “Amazing group of people” First 4 years – grew with 55 people with extraordinary high retention… 2008.. Kennedy left & Salary structured changed from 2 tier to 10 tier wage scale. 6 SHRM - NAMASTE SOLAR
  • 7. Employee ownership Critical part of vision is – a strategy for attraction and retaining employees – commitment to employee ownership. All employees have equal opportunities to buy shares.. Employees ho left need to sell back shares… Goal – to pay out departing stockholders quickly. 2008 – 37 employees(22/3 rd of total) held equity in the firm. 7 SHRM - NAMASTE SOLAR
  • 8. Organizational mission values and culture.. Mission. Benefits all stakeholders equally – customers, employees, investors, communities and the environment. Care for the earth, customer, community, company, ourselves. 8 SHRM - NAMASTE SOLAR
  • 9. BPM A Process called Big Picture Meetings Discussion of the issues facing by the company Expected to attend and encourage to participate Diverse Perspective will have better chance of Optimal solution More People you bring in, the more creative you get. Companies strove for FOH 9 SHRM - NAMASTE SOLAR
  • 10. From Consensus to Delegation Decision making was by Consensus. Consensus means everybody must give a thumps up. Later changed the process to consent. Logo Decision without BPM review BPM continued to deal with some issues as a group. It delegated others to specific teams or commitees. 10 SHRM - NAMASTE SOLAR
  • 11. From Consensus to Delegation Governed by five-person board of director. Each year 3 directors were elected so board turnover was rapid. All shareholders were eligible to vote for members of the board 11 SHRM - NAMASTE SOLAR
  • 12. Investment offers: By 2008, Namaste solar become the largest solar electricity company in Colorado. Customer referrals and repeat customers. Target was to earn revenue of more than US$ 14 million. 12 SHRM - NAMASTE SOLAR
  • 13. Cntd., Company growing at a breakneck pace. Colorado ranked 4th in installed capacity. Competition from national and local firms. Venture capital and private equity firms acquired stakes from competitors. Jones felt pressure. 13 SHRM - NAMASTE SOLAR
  • 14. Cntd., Jones getting telephone calls. “It was like, that’s 5 times what we were internally valuing our company at.” Burnout and Overload. Wes’s departure. In mid 2008, 2 firms emerged as serious bidders. 14 SHRM - NAMASTE SOLAR
  • 15. Sitting in the Crucible Three options were narrowed down. Path A- “ sell the whole kit and caboodle” Path B- Hybrid(partial ownership) Path C- 100 percent employee owned Path A and B would bring fresh infusion o capital “Investors would supply that” Big fish gobbling up the small fish 15 SHRM - NAMASTE SOLAR
  • 16. Cntd., For employees the matter was more personal: - lots of money - less stressful jobs 16 SHRM - NAMASTE SOLAR
  • 17. Fears Loss of control Grant program would be stopped Loss of family feeling Lack of support for “holistic profit” No guarantee for path B Resistance to change Fox recalled, path C “too idealistic” 17 SHRM - NAMASTE SOLAR
  • 18. Conclusion…“ Let’s just sit in the crucible, sit in the fire a little bit longer until we are able to make the right decision.”“ we won’t look back and regret.” 18 SHRM - NAMASTE SOLAR
  • 19. Questions….19 SHRM - NAMASTE SOLAR