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Business Strategy - Tesla Assignment

   

Added on  2021-02-21

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BUSINESSSTRATEGY
Business Strategy - Tesla Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1LO1 .................................................................................................................................................1The strategic context...............................................................................................................1Analytical framework for macro environment.......................................................................2Environmental analysis..........................................................................................................3Organisational Audit..............................................................................................................5LO2..................................................................................................................................................6Organisation internal environment and capabilities...............................................................6VRIO framework to acknowledge organisational capabilities...............................................7Benchmarking strategic capacity............................................................................................1Analysis of competitive environment using porter's five forces............................................1LO3..................................................................................................................................................3Different kind of strategic directions available to organisation.............................................3Justification and recommendation of most appropriate growth platform and strategies........5LO4..................................................................................................................................................5Strategic management plan with strategies, objectives and tactics........................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
Business Strategy - Tesla Assignment_2
INTRODUCTIONBusiness strategy is defined as the set of decision or course of action that benefits anbusiness owner in attaining desired business objectives. This will helps them in gainingcompetitive advantage over rival companies in an advantageous manner. This assignment iswritten in context with TESLA which is a America based automotive company, headquartered inCalifornia. Company offers electric vehicles to its customers and operates multiple assembly andproduction plants. This report is going to cover impact and influence of macro environment on acompany and its strategies. Beside this, porter's five forces is used to evaluate competitive forcesand range of concepts, models and theories are applied to device strategic plan for company. LO1 The strategic contextMission of TESLA Company has a mission to enhance the preference of people towards sustainability andsustainable energy.Vision of TESLAOrganisational vision of Tesla is to develop most compelling electric vehicles so thatcustomers can widely accept them.Objectives of company: Sustaining a long term awareness of brand and increasing organisational reputation. Satisfying customers of organisation to build a customer referrals and increase theirloyalty.Driving up sales of electric vehicles and cars produced by TeslaBusiness strategy: It is a plan which is used by management of a company to gain astrong position within marketplace (Amran and et. al., 2016).Role of business strategy in attainment of objectivesWith the help of effective business strategy, TESLA can give tough competition to rivalsin terms of revenues and profits. Appropriate strategies will be able to gain the attention ofcustomers in a proper manner, due to which sales of company will increase. These increasedsales will allow the company to achieve their business objectives in a desired way. 1
Business Strategy - Tesla Assignment_3
Different strategic planning techniquesBenchmarking: It is referred as the comparison of metrics with a rival or with entireindustry. By this, TESLA will acknowledge about its market position and will be ableable to formulate a strategic plan to achieve its aims and targets. Business analysis: By analysing business in a proper manner, TESLA will be able toidentify their strengths and weakness in a proper manner so that right decisions can betaken to get advantage over rivals. Analytical framework for macro environmentStakeholder analysis: It is defined as a systematic evaluation of stakeholders so that they canengage, prioritise and managed in a proper manner. It is a systematic manner by which interestand power of stakeholders can be acknowledged in the desired way. Different steps by which thisanalysis can be performed in TESLA is mentioned below:Identifications of stakeholders: It will include all those individuals which are impactedor impact the working procedures of company. In context with TESLA, potential stakeholdersare government, senior executives, suppliers, employees, customers, interest groups, alliancepartners, interest groups, contributor, key advisors, future recruits etc. Prioritising stakeholders: In this step different stakeholders can be prioritised inaccordance with their interest and power.High power high interest people: These stakeholders must be fully satisfied. In contextwith TESLA, these stakeholders are customers, alliance partners, investors etc. High power, less interested people: For Tesla, these shareholders are government,suppliers etc.Low power, highly interested people: These stakeholders in respect with TESLA areemployees, contributors etc. Low power, less interested people: These individuals hold very less power and they donot have much interest in working of TESLA such as future recruits, interest groups etc. Understanding of key stakeholders: In this stage, needs of different stakeholdersaccording to their priority and interest is identified. Here, business strategies are formulated sothat their expectations can be satisfied in a proper way. 2
Business Strategy - Tesla Assignment_4

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