Executive Summary of Duke Energy

Duke Energy is a leading energy company focused on electric power and gas distribution operations, and other energy services in the Americas – including a growing portfolio of renewable energy assets. The company has 4 million electric customers and about 500,000 gas customers in the US South and Midwest. Its US Franchised Electric and Gas unit operates primarily through its Duke Energy Carolinas, Duke Energy Ohio, Duke Energy Indiana and Duke Energy Kentucky regional businesses. The company has 35,000 MW of electric generating capacity in the Midwest and the Carolinas, including 7,550 MW of commercial power generation (not counting renewables). Duke Energy International has more than 4,000 MW of generation capacity, primarily in Latin America. While it is focused on energy operations, Duke also has stakes in insurance, real estate, and telecom businesses.

The key managerial functions of planning, organizing, leading and controlling are all crucial to the success of any manager and company. Planning, organizing, leading and controlling all serve an important part in achieving management’s vision. Each component is important and one cannot function well without the others. The first component of managing is planning. A manager must determine what the organizations goals are and how to achieve those goals. Managers are also responsible for organization of the company and this includes organizing people and resources. Managing and leading are not the same activity. Employees see a leader as someone that motivates them and guides them to help meet the firm’s goals. In an ideal situation, the manager also serves as the leader. Managers who want to lead effectively need to discover what motivates their employees and inspire them to reach the company objectives. The controlling function involves monitoring the firm’s performance to make sure goals are being met. Managers need to pay attention to costs versus performance of the organization.

Paul Anderson inherited a...