Perpustakaan Digital ITB

This thesis examines the co-evolution of national institutional frameworks and corporate strategies in the energy sector through a longitudinal comparative case study of Siemens Energy (Germany) and Saudi Aramco (Saudi Arabia) from 2000 to 2024. Drawing on co-evolutionary and institutional theory and using the Variation–Selection–Retention (VSR) framework to structure the process analysis, the study examines how Germany's Energiewende and Saudi Arabia's Vision 2030 shaped corporate strategic adjustment and how firm actions reinforced institutional priorities. Using secondary sources (policy documents, corporate reports, and industry publications), the findings show that Germany's decentralized, regulation-driven context encouraged Siemens Energy to pursue proactive innovation in renewables, grids, and hydrogen, generating mutual legitimacy between policy and strategy. In contrast, Saudi Arabia's centralized, state-led model guided Aramco toward incremental diversification through carbon management and emerging clean fuels, with feedback occurring mainly through legitimacy and implementation. The thesis contributes a governance-sensitive account of recursive institutional–corporate adaptation in energy transitions.