I am sending two more papers that goes with this assignment
In this assignment, you are to use the same corporation you selected and focused on for the Strategic Management and Strategic Competitiveness assignment. Using the corporation you chose from the Week 3 assignment, Strategic Management and Strategic Competitiveness, examine the industry in which the entity operates. Use any or all of the following resources to conduct research on the company: Company website. Public filings from the Securities and Exchange Commission’s Filings & Forms page. Strayer University’s online databases. The Lexis Advance database. Other miscellaneous sources. Note: the company’s annual report will often provide insights that other resources may not include. Use the External and Internal Environments Template [DOCX] to ensure that your assignment meets the requirements.
Write a 4–6 page paper in which you do the following: Choose the two segments of the general environment that would rank highest in their influence on the corporation you chose. Assess how these segments affect the corporation you chose and the industry in which it operates. Considering the five forces of competition, choose the two that you estimate are the most significant for the corporation you chose. Evaluate how well the company has addressed these two forces in the recent past. With the same two forces in mind, predict what the company might do to improve its ability to address these forces in the near future. Assess the external threats affecting this corporation and the opportunities available to the corporation. Give your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Justify your answer. Give your opinion on the corporation’s greatest strengths and most significant weaknesses. Choose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness. Justify your choices. Determine the company’s resources, capabilities, and core competencies. Go to the Strayer University Online Library to locate three quality references. Note: Wikipedia and similar websites do not qualify as academic resources. This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions. The specific course learning outcome associated with this assignment is as follows: Analyze the effects of the general environment, competition, threats, opportunities, strengths, and weaknesses relative to a corporation.
Scoring Guide Choose the two segments of the general environment that would rank highest in their influence on the corporation you chose, and assess how these segments affect the
corporation you chose and the industry in which it operates. 10 % Unacceptable Did not submit or incompletely chose the two segments of the general environment that would rank highest in their influence on the corporation you chose. Did not submit or incompletely assessed how these segments affect the corporation you chose and the industry in which it operates. Needs Improvement Insufficiently chose the two segments of the general environment that would rank highest in their influence on the corporation you chose. Insufficiently assessed how these segments affect the corporation you chose and the industry in which it operates. Satisfactory Partially chose the two segments of the general environment that would rank highest in their influence on the corporation you chose. Partially assessed how these segments affect the corporation you chose and the industry in which it operates. Competent Satisfactorily chose the two segments of the general environment that would rank highest in their influence on the corporation you chose. Satisfactorily assessed how these segments affect the corporation you chose and the industry in which it operates. Exemplary Thoroughly chose the two segments of the general environment that would rank highest in their influence on the corporation you chose. Thoroughly assessed how these segments affect the corporation you chose and the industry in which it operates. Considering the five forces of competition, choose the two that you estimate are the most significant for the corporation you chose, and evaluate how well the company has addressed these two forces in the recent past. 15 %
Unacceptable Did not submit or incompletely predicted what the company might do to improve its ability to address these forces in the near future. Needs Improvement Insufficiently predicted what the company might do to improve its ability to address these forces in the near future. Satisfactory Partially predicted what the company might do to improve its ability to address these forces in the near future. Competent Satisfactorily predicted what the company might do to improve its ability to address these forces in the near future. Exemplary Thoroughly predicted what the company might do to improve its ability to address these forces in the near future. Assess the external threats affecting this corporation and the opportunities available to the corporation, give your opinions on how the corporation should deal with the most serious threat and the greatest opportunity, and justify your answer. 15 %
Unacceptable Did not submit or incompletely assessed the external threats affecting this corporation and the opportunities available to the corporation. Did not submit or incompletely gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Did not justify your answer. Needs Improvement Insufficiently assessed the external threats affecting this corporation and the opportunities available to the corporation. Insufficiently gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Insufficiently justified your answer. Satisfactory Partially assessed the external threats affecting this corporation and the opportunities available to the corporation. Partially gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Partially justified your answer. Competent Satisfactorily assessed the external threats affecting this corporation and the opportunities available to the corporation. Satisfactorily gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Satisfactorily justified your answer. Exemplary Thoroughly assessed the external threats affecting this corporation and the opportunities available to the corporation. Thoroughly gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Thoroughly justified your answer. Give your opinion on the corporation’s greatest strengths and most significant weaknesses, choose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness, and justify your choices. 15 %
Unacceptable Did not submit or incompletely assessed the external threats affecting this corporation and the opportunities available to the corporation. Did not submit or incompletely gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Did not justify your answer. Needs Improvement Insufficiently assessed the external threats affecting this corporation and the opportunities available to the corporation. Insufficiently gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Insufficiently justified your answer. Satisfactory Partially assessed the external threats affecting this corporation and the opportunities available to the corporation. Partially gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Partially justified your answer. Competent Satisfactorily assessed the external threats affecting this corporation and the opportunities available to the corporation. Satisfactorily gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Satisfactorily justified your answer. Exemplary Thoroughly assessed the external threats affecting this corporation and the opportunities available to the corporation. Thoroughly gave your opinions on how the corporation should deal with the most serious threat and the greatest opportunity. Thoroughly justified your answer. Give your opinion on the corporation’s greatest strengths and most significant weaknesses, choose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness, and justify your choices. 15 %
Unacceptable Did not submit or incompletely gave your opinion on the corporation’s greatest strengths and most significant weaknesses. Did not submit or incompletely chose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness. Did not submit or incompletely justified your choices. Needs Improvement Insufficiently gave your opinion on the corporation’s greatest strengths and most significant weaknesses. Insufficiently chose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness. Insufficiently justified your choices. Satisfactory Partially gave your opinion on the corporation’s greatest strengths and most significant weaknesses. Partially chose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness. Partially justified your choices. Competent Satisfactorily gave your opinion on the corporation’s greatest strengths and most significant weaknesses. Satisfactorily chose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness. Satisfactorily justified your choices. Exemplary Thoroughly gave your opinion on the corporation’s greatest strengths and most significant weaknesses. Thoroughly chose the strategy or tactic the corporation should select to take maximum advantage of its strengths, and the strategy or tactic the corporation should select to fix its most significant weakness. Thoroughly justified your choices. Determine the company’s resources, capabilities, and core competencies. 15 %
Unacceptable Did not submit or incompletely determined the company’s resources, capabilities, and core competencies. Needs Improvement Insufficiently determined the company’s resources, capabilities, and core competencies. Satisfactory Partially determined the company’s resources, capabilities, and core competencies. Competent Satisfactorily determined the company’s resources, capabilities, and core competencies. Exemplary Thoroughly determined the company’s resources, capabilities, and core competencies. Include three references. 5 % Unacceptable No references provided. Needs Improvement Does not meet the required number of references; all references are poor-quality choices. Satisfactory Does not meet the required number of references; some are references poorquality choices. Competent Meets number of required references; all references are high-quality choices. Exemplary Exceeds number of required references; all references are high-quality choices. Clarity, writing mechanics, and formatting requirements. 10 % Unacceptable More than 8 errors present. Needs Improvement 7–8 errors present. Satisfactory 5–6 errors present. Competent 3–4 errors present. Exemplary 0–2 errors present.
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Week 3 Assignment 1
: Tesla Inc.
Karen Holmes
Strayer University
BUS499 Business Administration Capstone
Professor Keller
January 31, 2021
Week 3 Assignment 1
Tesla Inc. was started in 2003 by a goup of engineers who saw the need to change the way people perceived driving of electric cars and the need to conserve the environment by encouraging the utilization of clean energy. Today, the company engages in the production of electric vehicles and scalable clean energy storage products, including solar panels and batteries (Tesla Inc., 2020). This paper will discuss the impact of globalization and technology on Tesla Inc.’s operations. It will also apply the industrial model and resource-based model to investigate how Tesla Inc. could earn above-average returns. The paper will also assess the influence of Tesla Inc.’s vision and mission statements on its overall success. It will conclude by evaluating the impact of each category of Tesla Inc.’s stakeholders on its overall success.
Tesla Inc’s expansion into the global market has led to significant impacts on its operations and overall success. According to the company’s Q4 report on FY 2020, the company has established fully-functional manufacturing factories in Fremont, California and Shanghai, China that produce a combined 1,050,000 electric vehicles (models S, X, Y and 3) annually for the United States, European and Asian markets. It is also constructing Gigafactories in Berlin, Germany; Texas and TBD in the U.S. The company primarily targets the European and Asian markets and has endeavored to standardize its products to meet the needs of these markets (Tesla Inc., 2021).
Tesla Inc.’s expansion to the global market has been impacted by global competition and global economy. For instance, it has faced stiff competition from other players in the electric vehicle production industry such as NIO, the Chinese electric car maker that produced 36,000 cars in 2020; Volkswagen Group, which started producing electric vehicles dubbed the ID.3 in 2019. Volkswagen anticipates to produce over 1.5 million such vehicles by 2025, which will put more pressure on Tesla Inc. in the European market (O’Donoghue, 2020). BYD Company is also another Chinese competitor that is based in Shenzhen and leverages on high-tech sector by producing consumer electronics and energy storage devices. This poses direct competition for Tesla Inc.’s Chinese market. Despite the increasing competition, Tesla has a competitive advantage because of its first-mover tag and the ability of its vehicles to cover long distances because of their enhanced battery power. It also prides itself of having the most advanced autopilot driver-asssit features in its cars unlike any other company and its cars are slightly less tangible compared to those of its competitors.
Tesla Inc. has managed to deal with the negative effects of global economy on its operations and profitability by focusing on transnational homogeneity of products in various market segments it targets (Amelia & Raina, 2018). Its products are highly standardized meaning that it faces low pressures to respond to local demands and preferences. This has enabled it to reduce its production cost and given it a chance to concentrate on other avenues of competing. Also, due to globalization, the company has managed to cut down on production costs by producing in countries such as China where the cost of labor is lower compared (Amelia & Raina, 2018).
Technology is a set of knowledge, competencies, experience and systems through which humans alter, transform and use the setting to make tools, machines, products and amenities that meet people’s wants and needs (Hitt et al., 2020). For companies such as Tesla Inc. that operate on a global scale, technology has played a crucial part in influencing their operations and success in general. Tesla Inc. has leveraged on modern technology to produce electric cars and clean energy storage products that have contributed to its immense success. Some of the most applied technologies the company has taken advantage of include cloud computing, social media, Internet of Things, Artifical Intelligence (AI), e-commerce and data analytics.
According to Hawkins (2017), Tesla Inc. revolutionized the auto industry by introducing disruptive technologies that rendered most of the existing vehicles antiquated. The company achieved this in three primary ways: autopilot, electrification and adoption of software. The company’s Model S cars are capable of receiving OTA firmware updates even when away from the company’s stores. This is made possible by cloud computing, internet of things and utilization of artificial intelliegence. The company’s gigafactories make use of robots that employ AI to work. Additionally, in October 2015 Tesla Inc. Introduced the its autopilot which made use of Google maps, other apps to assist the driver to reach his or her destination faster and with little hustles. This disruptive technology might make other car models extinct or outdated in the near future. Also, the company espouses the use of clean energy storage methods including the use of solar panels and power batteries, some of which its cars use (Hawkins, 2017). This has enhanced the success of the company.
Another area in which technology has impacted Tesla Inc.’s operations is in the use of social media and ecommerce. Elon Musk, the company’s CEO uses his twitter handle @elonmusk to announce new products or models their features. The company’s twitter handle @Tesla, Facebook and Instagram pages are also utilized to market its products and enables the company to reach a wider global audience. The company also engages in ecommerce where clients can order for cars or other products thorough its website
https://www.tesla.com/
(Tesla Inc., 2020).
The industrial organization model explains that it is the external environment which a firm should take care of before drawing up any strategy (Hitt et al., 2020). In this sense, the industry in which an organization decides to compete in can significantly influence its performance as opposed to choices that managers make internally. For Tesla Inc. to realize above-average returns (revenues), the I/O model suggests that it takes care of both its micro and macro external environmental factors. These factors include suppliers, customers, intermediaries in the market, public perceptions and financiers (micro), and political, legal, sociocultural, economic, technical aspects of the macro-environment. Micro-environmental factors can affect the daily operations and Tesla Inc. should take care of them. The model also recommends that the company undertakes a study of the external environment such as the industry and competitive setting to be able to design an appropriate mechanism to enhance its capability of beating its key competitors (Hitt et al., 2020).
Furthermore, the model recommends that the organization locates the industry or market classification with the highest chances of making above-average returns, and find the appropriate strategy to enable it earn those returns. Additionally, the firm ought to develop and obtain assets as well as the relevant skills to execute its identified strategy on a global scale. Tesla Inc. can also utilize its strengths as a leading maker of electric cars and clean energy storage to implement a successful strategy that can see it maintain or increase the market share that it currently holds.
In the resource-based model, it is argued that differences in performances of firms over time are due to their unique resources and capabilities as opposed to the structural traits in the industry (Ujwary-Gil & Potoczek, 2020). The model thus focuses on the uniqueness of a company’s resources and capabilities and notes that any corporation with unique skills and resources can develop its capacities to gain a competitive advantage over the rest (Hitt et al., 2020).
Tesla Inc. can to earn above-average returns if it focuses more on its resources, such as corporate culture, land, location, equipment, brand, reputation, trademarks and patents. Resource-based model recommends that Tesla Inc. identifies its unique resources such as strong brand, patents and equipments then clearly study its strengths and weaknesses in comparison with those of competitors like BYD, Volkswagen and NIO. Secondly, the firm needs to focus more on its competitive advantage and channel most of its resources towards that direction. Third, it must locate an attractive industry that presents greater opportunities for exploitation. Tesla has managed to utilize this quite well. Fouth, Tesla should select a strategy which will allow it to use its resources to earn above-average revenues. It is worth noting that most of Tesla’s strategies have worked well in ensuring it stays top of its game in the industry it operates.
Tesla Inc.’s vision statement is “to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.” (Tesla Inc., 2020). According to Hitt et al. (2020), a vision gives a shape to a company’s intended future and gives an indication of where it wants to be in the future. From Tesla’s vision, it is clear that its focus is majorly on renewable and clean energy. The company aims to develop into the most compelling player in this industry. It approaches this aim by integrating technology in its electric vehicles and other products (Tiwari, 2017). The vision also reiterates the company’s commitment to utilize technology in addressing contemporary concerns such as ecological preservation while earning revenues from this.
Tesla Inc.’s mission statement is to accelerate the world’s transition to sustainable energy (Tesla Inc., 2020). This statement reiterates the role of the company in pushing the industry to to advanced technologies that encourage sustainable business and products that depend on renewable energy. Another component of the mission is transition of the world which implies that the expectation of the firm is to help the world transition successfully to clean and sustainable energy (Tiwari, 2017). Additionaly, the mission statement indicates that Tesla is more concerned with satisfying the increasing demand for sustainable energy by improving its business scope to producing battteries and other renewable energy products. The increase in product scope has also led to its overall success.
Each category of stakeholders as highlighted by Hitt et al. (2020) influences the overall success of Tesla Inc. For example, capital market stakeholders which consist of the Tesla’s shareholders provide the much needed capital that helps the company to expand its operations. Through purchase of TSLA stocks in NASDAQ, the shareholders play a crucial role in providing capital to run the business. The second category are the product market stakeholders comprising of suppliers, unions, clients and host communities help the company through timely supply or delivery of raw materials and products respectively. Host communities help in providing labor and a conducive environment for production of its products. Organizational stakeholders who comprise of managers and employees of Tesla Inc. play crucial roles in ensuring the success of the corporation by working towards the attainment of the company’s goals and objectives. Tesla’s managers such as Elon Musk help in formulating various strategies and employees execute them, thereby improving the overall success of the company.
Amelia, Y. & Raina, Q. 2018. Tesla’s International Expansion Strategy. Global Marketing Professor. Retrieved from https://globalmarketingprofessor.com/teslas-international-expansion-strategy/
Hawkins, A.J. July 28, 2017. How Tesla changed the auto industry forever. The Verge. Retrieved from https://www.theverge.com/2017/7/28/16059954/tesla-model-3-2017-auto-industry-influence-elon-musk
Hitt, M.A., Ireland, D. & Hoskisson, R.E. 2020. Strategic management: Concepts and cases: Competitiveness and globalization (13th Ed.). Mason, OH: South-Western Cengage Learning.
O’Donoghue, J. 2020. Tesla’s Competitors: The Other Players in the Electric Vehicle Industry. Retrieved from https://blog.mywallst.com/teslas-competitors/
Tesla Inc. 2020. About Tesla. Retrieved from https://www.tesla.com/about#:~:text=Tesla’s%20mission%20is%20to%20accelerate,to%20drive%20than%20gasoline%20cars.
Tesla Inc. 2021. Q4 and FY2020 Update. SEC. Retrieved from https://www.sec.gov/Archives/edgar/data/1318605/000156459021002645/tsla-ex991_99.htm
Tiwari, J.D. 2017. Marketing Research on Tesla Inc. – Strategic analysis. Strategic Engineering Management, 1(2), 1-26
Ujwary-Gil, A., & Potoczek, N. R. 2020. A dynamic, network and resource-based approach to the sustainable business model. Electronic Markets, 30(4), 717-733
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