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Generating electricity from wind power is one of the fastest growing methods in the world. The kinetic energy of the moving air is converted into electricity by wind turbines that are installed in places where the weather conditions are most favorable.
Wind turbines can be used individually, but are often grouped together to form wind parks also called wind farm. Electricity generated from wind parks can be used to meet local needs or to supply an electricity distribution network for homes and businesses further away.
Energy obtained from the wind can also be converted into hydrogen and used as transport fuel or stored for subsequent electricity generation. The use of this form of energy, reduces the impact of electricity generation on the environment as it does not require fuel and does not produce any pollutants or greenhouse gases.
Wind energy is growing significantly and since 1994 the world market has grown by around 30% per year. The installed capacity worldwide rose from 17,400 up to 650,560 MW between 2000 and the end of 2019. In the European market, which concentrates most of the world's wind farm, Germany remains the leader with almost half of the total capacity. Spain recorded the strongest growth in the last three years with an annual growth rate of 28%. Europe also concentrates industrial and technological activities: Eight European manufacturers are among the top ten in the world, with 70% of devices sold in 2018.
Purpose: The study is aimed to determine the Incentives for German SMEs to offshore their business activities in India and China.
Design: This study is based on quantitative approach. Primary and secondary data is being used in the study. The data was collected from individuals working in different SMEs in Germany, having relative offshoring experience. Theories from the articles, peer reviewed journal along with relevant books were consulted throughout the study.
Findings: The findingssuggest that the benefits and advantages of offshoring strategy in India and China are cost efficiency and technology. Moreover, the challenges that are being faced by the firms while executive offshoring strategy is cultural mix especially language/cultural barriers, security issues and loss of market performance.
Originality and Value: The study on incentives of German SMEs to offshore business activities in India and China enables me to understand why companies are interested in offshoring strategy in low cost countries for expanding their business while evaluating the challenges, merits and demerits of offshoring