Developing a Grand Strategy to Support the Company's Mission

This document discusses the importance of developing a grand strategy to support a company's mission. It explains the concept of business strategies and their role in achieving goals and objectives. The document focuses on Tesla Inc as a case study and explores the different strategies the company can use to fulfill its mission of providing sustainable energy.

Develop a grand strategy
to support the company's
mission

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 2 Develop a grand strategy to support the company's mission........................................1
CONCLUSION ...............................................................................................................................3
REFERENCES................................................................................................................................5

INTRODUCTION
The term “Business Strategy” is referred as a set of actions and decisions which helps the
business companies to achieve the desired goals and objectives of the companies. Business
strategies are generally the planning of the management of the company to implement different
decisions and actions on the basis of the market demand and needs to achieve the company 's
mission and vision. With the use different business strategies, it helps the businesses to gain a
maintain the competitive advantage and surviving in the market.(McCain, 2019). It helps the
business companies to carry with its operations, generate customer satisfaction and achieve the
desired goals of the company. The report is based on the business strategy of Tesla Inc. which is
a American electronic vehicle company and as well as for the clean energy company. Tesla deals
in electric cars,solar panels, solar roof tiles,battery energy stored from the home, grid scale to the
customers. The aim of Tesla Inc is to serve to go and shift to sustainable transport and energy
which can be obtained from having electronic vehicles and solar energy. The company focuses
on delivering electric cars for having sustainability in the society rather other vehicles using
different fuels. The report below includes the developed strategy to support the company 's
mission.
MAIN BODY
TASK 2 Develop a grand strategy to support the company's mission
Tesla Inc 's mission statement is to reflect the nature of its electronic auto mobile
manufacturing and other related products and services in the market. The mission of Tesla Inc is
to provide sustainable energy. The mission statement shows the shifting of the company towards
the corporate approaches which are more futuristic and predictable. The company is now
focusing on the sustainability which determines the compliance of the company towards the
world 's demands that are related with the motive to increase green energy. The company can
develop strategy to accomplish its mission through: Facilitating global transition: The corporate model of Tesla is to lead the global world
with sustainable transition energy. The company focuses on its resources on arriving up
with the latest technologies to the manufacturing sector of the company. Improving communities: The company serves to the overall the goodness of the
communities including the promotion of the communities 's health with little pollution in
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the environment with the vehicles that run on fossil fuels.(Thomas and Maine, 2019). The
company is manufacturing different product like electrical appliances by using solar
panels which work as source of green energy in factories and houses where clean energy
is concerned.
 Over demanding expectations: The company focuses on the preferences of the customers
in manufacturing of the company 's products. The company allows the customers to
influence the designing elements of the product of the company. (Das and Zaman, 2019)
As is it necessary to develop the business strategies for the companies to accomplish the
goals and objectives as well as the mission of the company. As the business strategies consists of
different principles which outlines how the companies will perform in order to achieve their
planned goals and objectives. It is essential for the companies to develop the strategies as it
provides provides a sense of how the companies are performing in the corporate world, what are
its capabilities, and how far the companies have the potential to grow themselves in the market.
In context to Tesla inc the importance of developing the business strategies are as follows: Guide : As the well developed strategy helps in offering the guide for the companies that
the company is going to perform their business practices. Trends : A well developed strategy helps in identifying the opportunities and trends of
the company in order to carry the future business activities. It determine the changes in
the market such as political, technological and social changes in the markets. Vision : A developed strategy creates the direction and the vision of the company. As it is
important that all the staff members of the company have the clear goals and vision to
perform their work.
 Competitive advantage : A well developed strategy helps in gaining the competitive
advantage to the company which leads to deal with competitive companies in the
market.
To support the company 's mission the company is focusing on developing the product
differentiation strategy to support the company 's mission statement. As the business companies
who opts for differentiation strategy sells products and services that have unique and creative
features for which customers don't mind to pay extra to avail the services. (Shchepin, Jaigirdar
and Chekmenev, 2018). The differentiation strategy can be developed by Tesla to provide unique
product that is electric cars, extra beneficial services, with the upgrade technology to the
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customers in the market. As the customers are seeking the company 's products for cutting edge
with the latest technology, with creative and differentiated design and image, and with a
relatively hassle free purchasing and using experience. The official website of the company
keeps a emphasize on its cars ' acceleration, their safety and with the highest cost possible. The
vehicles also have the large screens which offers semi autonomous driving for the customers.
The company uses differentiation focus as the company 's generic strategy for gaining the
competitive advantage and fulfilment of the mission of the company. In having the
differentiation focus strategy , the company is emphasized on the uniqueness of its products but
it monitors the first adopters in the high-end market for the electronic vehicles. (Hong and Park,
2020).
Tesla 's different generic competitive strategy has now moved to the broad
differentiation. (Lin, Ma, and Zhang, 2018). As a result the production cost of the vehicles are
decreasing and the company is gaining brand popularity among the customers which ensures the
company to largely target the customers. Tesla 's different intensive and low cost and focus
strategy that supports the company 's mission are as follows: Primary strategy(market penetration) :The company is using the market penetration
method as its primary growth strategy. This strategy of the company ensures the growth
of the company by increasing its sales revenues in current markets which helps in
focusing on the mission of the company. The intensive growth strategies goes with the
company 's generic strategy by developing competitive advantage that is relies on the
market share of the company. The main strategic objective based to grow the company 's
profit revenues through aggressive marketing. Secondary strategy (product development) : The product development in Tesla Inc 's
intensive growth strategy is to produce different products for the company. As in this
strategy the company expands and carries its business by developing and launching new
products for the customers in the markets to increase the level of sales for the company.
(Bharadwaj, Mani, and Nandkumar, 2018). The company applies this strategy by creating
and launching new products with the help of latest technological tools and technologies
for that reduce the environmental impact which also supports the mission of the
company. The company can use product development to fulfil the company 's goals and
objectives.
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 Market development : The company is using the market development strategy as a
important intensive growth strategy. Te strategy of market development consists in the
entering of the company in new markets to expand more business and generate more
sales for the company globally. The market development strategy supports the company
's mission and vision statements that highlights the global leaderships in the auto mobile
industry, with the energy solutions for the transportation with the help of solar panels and
in the other sectors.
As the main focus of Tesla is to provide the transition to sustainable energy through its electric
cars and other sustainable energy by having electronic vehicles and other sustainable solutions.
(Garcia and Oliveira, 2018). For this the company can develop the differentiation strategy to
accomplish their goals and objectives. And the goals can be achieved by using the cost
leaderships, differentiation and focus strategy. Apart from supporting the mission statement of
the company it helps the company to grow the customer 's base and generate sales for the
company.
CONCLUSION
From the above report it can be concluded that business strategies are considered to be
essential part of the business companies which works as a guidelines and helps the business
companies to take different actions and decisions to achieve the company's mission objectives
and goals set by them. The above report is based on the differentiation strategy of Tesla Inc
which supports the mission statement of the company . The mission purpose of the company is to
provide sustainable growth in the global market. And as a result the company is using the
differentiation strategy for the growth of the business and generate more revenue and sales for
the company. The company is following the different intensive growth strategies for market
penetration, development of the product and market development to manufacture the products to
customers as a sustainable source with a view to fulfil the mission of the company.
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REFERENCES
Books and Journals
Bharadwaj, A., Mani, D. and Nandkumar, A., 2018. How Investors Constrain Digital Innovation.
HBR Digital, August .21.
Cooper, C., 2018. The Truth about Tesla: The Myth of the Lone Genius in the History of
Innovation. Race Point Publishing.
Das, B.K. and Zaman, F., 2019. Performance analysis of a PV/Diesel hybrid system for a remote
area in Bangladesh: Effects of dispatch strategies, batteries, and generator selection.
Energy .169. pp.263-276.
Garcia, M.T.M. and Oliveira, R.A.A., 2018. Value versus growth in PIIGS stock markets.
Journal of Economic Studies.
Hong, P. and Park, Y.W., 2020. Changing Industry Competitiveness: Case of Asian Automotive
Firms. In Rising Asia and American Hegemony (pp. 139-151). Springer, Singapore.
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Lin, R., Ma, L. and Zhang, W., 2018. An interview study exploring Tesla drivers' behavioural
adaptation. Applied ergonomics .72. pp.37-47.
McCain, C., 2019. A Strategic Audit of Tesla, Inc.
Shchepin, R.V., Jaigirdar, L. and Chekmenev, E.Y., 2018. Spin–Lattice Relaxation of
Hyperpolarized Metronidazole in Signal Amplification by Reversible Exchange in
Micro-Tesla Fields. The Journal of Physical Chemistry C .122 (9). pp.4984-4996.
Thomas, V.J. and Maine, E., 2019. Market entry strategies for electric vehicle start-ups in the
automotive industry–lessons from tesla motors.Journal of Cleaner Production .235.
pp.653-663.
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