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Business Strategy on Tesla Assignment

   

Added on  2021-02-19

14 Pages4260 Words30 Views
Business Strategy

Table of ContentsINTRODUCTION...........................................................................................................................1P1. Framework for macro-environment analysis...................................................................1P2. Framework for internal analysis.......................................................................................4P3. Industrial analysis.............................................................................................................5P4. Selection of a strategic option along with rationale.........................................................7CONCLUSION..............................................................................................................................10REFERENCES................................................................................................................................1.........................................................................................................................................................3

INTRODUCTIONBusiness strategy is the term which involves a series of tactics which is required in theorganisation in order to accomplish its long term vision and goals. It is also a core component forthe association as through the implementation of the proper business strategy within the businessa firm can easily gain a competitive benefits over other rivals within the industry. This project isdocumented on the company Tesla which is one of the largest company in automotive industry.The brands deals in rendering their customers with the best electronic cars which have beenmanufactured keeping the customers preferences and required state of quality in the mind. Thestudy will focus on the covering of the certain important topics such as factors which havesignificant impact on the working of the concern with PESTLE analysis(Johnson, 2016). Apartfrom this the study will also cover SWOT and porter's five forces model so that businessattractiveness within the market place can be identified. At, last the use of Ans off matrix hasbeen done so that the different opportunities can be identified and preparation of strategicmanagement plan can be done.P1. Framework for macro-environment analysis.In order to understand the factors which are rapidly impacting the business it is necessaryfor the business to implement different models and techniques. Identification of these influencingfactor will enable the association in designing, formulating and developing of the tactics so thatthe association can easily overcome different challenges from their competitors and sustain theirenterprise within the competitive market for a longer duration of time(Jeston, 2014).This willalso support the business of TESLA in performing the activities in the best possible manner. Themacro environment factor which influences the business are written under as follow:PESTLE ANALYSISPESTLE analysis is the tool which is important and useful to the business in differentdifferent situation when entering into the newer market or starting up of the new venture. Thistool is used by the business in order to determine all those factor of the macro environmentwhich are impacting the associations performance. PESTLE denotes different different factorssuch as Political, economical, social,technological, legal and environmental. All these factors areas mentioned beneath:1

Political: political factors are those which comprises of all government interventionssuch as diverse rules and regulations related to taxation, trade, political stability etc. as theeconomy of UK is fostering a stable economic so this is an advantage for the business of TESLAto develop and enhance their business in this nation. Other than this the business can alsoundergo some threat regarding its property as there are some factor which affect the businesssuch as the effect of BREXIT,imbalance of the political conditions etc. In this case the businessof TESLA is required to focus on holding of the stock in advance so that whenever the situationin front of the business occurs is unfavourable, they can easily full fill their customer expectationwith the stock available to them(Akter and et. al., 2016).Economic: These factors of those which directly affect the performance of the economysuch as inflation rate, growth rate, GDP rate etc. In regard to the context of TESLA the businesshave the opportunity to sell their electronic car in the market and grow their business in aneffective manner due to the increment of the fuel-engine prices for the other businesses. Alongwith this, it can also be affected through the recession, Brexit which may be a danger for thebusiness of TESLA as due to this the requirement of the car in the market of UK will bedecreased. In order to deal within this situation the enterprise of TESLA is needed to undergo thedevelopment of strategies of economic pricing so that business can grow in the marketplace(Reim, Parida and Örtqvist, 2015).Social: These factors are those which involves customers belief, ethics, values, attitudeand lifestyle etc. in current scenario, the customers in present time have become more consciousregarding the benefits of the environment and society. So in regard to this this is an opportunityfor the business of TESLA motors to launch their new electronic cars as this will not hinder thesociety and its customers. Apart from this the business can also face the problem from thecompetitors in the market who works towards the production of the product which are of eco-friendly. So to cope up with this the business of TESLA motors is required to Built up strategiesof manufacturing of the cars which are of advanced technology, structure so that large number ofcustomers can be attracted and retain them towards the business for a longer duration.Technological: This factors is the one which gives its more emphasis on thetechnological interventions and innovation. So it is an opportunity for the business to launchtheir car which is electronic cars with some unique features and high tech technology. Thebusiness has also launched its car with latest hydrogen fuel technology which have made it2

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