Strategy Development. 2. Innovation and Competitive Analysis. 3. Exploiting Innovation. 4. The Organizations Response to Change.? ?Combine all previous documentation for Project D

Case study one

Tesla Motors Strategy Development

As applied in business, a strategy is a plan of action designed to achieve a specific goal. This may involve developing new products, entering new markets, or expanding into new geographic regions. The purpose of a business strategy is to create value for the company. To create value, a business must first understand its customers and what they need or want. The company must then find a way to provide that product or service in a way that is better than the competition (Vynakov et al., 2016). This could involve creating a unique selling proposition or finding a niche market. Once the company has a clear understanding of its customers and place in the market, it can begin developing a plan to achieve its goals. This plan will involve setting targets and taking actions to reach those targets. The success of a business strategy depends on its ability to give the company a competitive advantage and help it to achieve its goals.

The chairman and CEO announced Tesla Motors's strategy in 2006. A process is like an organization's roadmap, and for Tesla Motors, its roadmap incorporated building a sports car, building an affordable car, and more affordable vehicles, and at the same time providing a generation option of zero-emission electric power and telling no one (Chen & Perez, 2018). The plan relates to strategy definition as it involves achieving desired outcomes, and the bridge to achieving that is the master plan (Vynakov et al. 2016). With this, Tesla Motors can maximize the organization's strengths and minimize the competitors' strengths.

Summaries of the Selected Strategies

The fully electric vehicle market is rapidly growing. Tesla Motors' management develops new strategies to compete in this competitive market. The reasons behind its growth are new regulations on vehicle emissions and safety, technological advancements, and shifts in customer expectations and needs (Gilson & Abbot, 2017). In the beginning, the founder and CEO of the company launched a mission that stated: "to have the sustainable transport accelerated by bringing compelling mass-market electric cars to the market as fast as possible." The purpose has served as the backbone of the successful business model of Tesla Motors (Gilson & Abbot, 2017).

To achieve the recent development, Tesla Motors did not build a relatively affordable car that could market and mass production, but the company took the opposite approach. It focused on creating a compelling vehicle. The Tesla Roadster was Tesla's inaugural high-performance electric supercar (Vynakov et al., 2016). After its brand got established and a concept car was delivered to the market, Tesla Motors reinforced its business model. It is a business model based on a three-pronged approach to selling its electric vehicles, servicing, and charging.

Tesla Motors has also adopted several strategies in recent years to increase its future value. One of these is expanding its product offerings beyond electric vehicles to include batteries, solar panels, and home energy storage systems. This move has helped the company to become a one-stop shop for sustainable energy solutions and position itself as a leader in the industry. Another strategy Tesla has adopted is investing in autonomous driving technology. This has the potential to not only make its cars safer and more efficient but also open up new revenue streams by providing independent ride-hailing services. Tesla's expansion into new product categories has helped it to gain a competitive edge and position itself as a critical player in the sustainable energy space. Its investment in autonomous driving technology is also a major differentiator that could lead to significant growth in the future.

The Automobile Industry and Tesla’s Key Competitors

The automotive industry is very competitive, with numerous companies all vying for market share. Tesla Motors is a relatively new entrant to the industry but has quickly established itself as a leader in electric vehicles. The company has also expanded beyond cars to offer batteries, solar panels, and home energy storage systems. The automotive industry is significantly shifting as companies move towards electric and autonomous vehicles. Thanks to its innovative products and cutting-edge technology, Tesla is well-positioned to take advantage of these trends.

Tesla Motors, founded in 2003, operates in three industries; energy storage, energy production, and automotive. The firm deals with storage systems and energy generation in addition to the USA's design, production, leasing, and sales of electric vehicles. Therefore, the company provides services to automotive companies like selling battery technology. The major Tesla Motors competitors are Ford Motor Company, General Motors, Honda Motor Company, Tata Motors, Toyota, and other electric vehicle manufacturers such as Nissan and BMW (Gilson & Abbot, 2017). The traditional car companies are increasing their offerings when it comes to hybrid gasoline-electric cars as well as pure electric vehicles.

Companies like Ford Motor Company, Tesla's competitor, have become among the world's leading automobile brands through the strategy of intelligent management and leadership. It is a company aiming to become a mobility company that is the world's most trusted. Its process involves a consistent focus on operational efficiency. General Motors is also a competitor to Tesla, and its sustainability strategy is synonymous with the company's business strategy. The business strategy of General Motors is to deliver transportation solutions that are simpler, safer, and sustainable for its customers (Mangram, 2022). These car competitors use a variety of strategies, depending on their strengths and weaknesses. Some, like General Motors, have been investing heavily in electric vehicle research and development, while others, like Nissan, have focused on making their electric cars more affordable for consumers. BMW, meanwhile, has been investing in both areas.

The Automobile Industry Analysis

In the automotive industry, especially the electric car industry, the market for electric vehicles gets driven by various factors. Among the factors include the increase in fuel-efficient demand, low emission, high-performance cars, and the government's stringent rules and regulations (Gilson & Abbot, 2017). The rules and regulations are toward emissions from the car getting anticipated to drive the market trend of the electric vehicle. Regarding market share, the hybrid electric vehicle holds approximately 48% of the percentage based on the electric vehicle types.

In 2022, Tesla is still a leading player in the electric vehicle market, with a market share of around 20%. Its main competitors are General Motors, Nissan, and BMW. Tesla has maintained its position as a top electric vehicle manufacturer thanks to its continued innovation and investment in new technology (Kolodny, 2022). The company has expanded its product offerings beyond electric vehicles to batteries, solar panels, and home energy storage systems. It has also invested heavily in autonomous driving technology, which is expected to become a significant growth area in the coming years.

Tesla Motors Performance Goals

Tesla's performance goals for the next one- and five-year period are to increase market share in the electric vehicle market to 30% by 2023, launch autonomous ride-hailing services in at least 10 major cities by 2025, and become the leading provider of sustainable energy solutions by 2030. These goals are ambitious but achievable, thanks to Tesla's strong position in the electric vehicle market and its continued investment in new technologies (Maurer, 2020). The company's market share could be increased through aggressive marketing and expansion into new markets. Its autonomous driving technology could be used to launch ride-hailing services in major cities, providing a new source of revenue. And its sustainable energy solutions could help it to gain a significant share of the growing market for renewable energy.

Case Study 2

Tesla Motors Strategy Development

As applied in business, a strategy is a plan of action designed to achieve a specific goal. This may involve developing new products, entering new markets, or expanding into new geographic regions. The purpose of a business strategy is to create value for the company. To create value, a business must first understand its customers and what they need or want. The company must then find a way to provide that product or service in a way that is better than the competition (Vynakov et al., 2016). This could involve creating a unique selling proposition or finding a niche market. Once the company has a clear understanding of its customers and place in the market, it can begin developing a plan to achieve its goals. This plan will involve setting targets and taking actions to reach those targets. The success of a business strategy depends on its ability to give the company a competitive advantage and help it to achieve its goals.

The chairman and CEO announced Tesla Motors's strategy in 2006. A process is like an organization's roadmap, and for Tesla Motors, its roadmap incorporated building a sports car, building an affordable car, and more affordable vehicles, and at the same time providing a generation option of zero-emission electric power and telling no one (Chen & Perez, 2018). The plan relates to strategy definition as it involves achieving desired outcomes, and the bridge to achieving that is the master plan (Vynakov et al. 2016). With this, Tesla Motors can maximize the organization's strengths and minimize the competitors' strengths.

Summaries of the Selected Strategies

The fully electric vehicle market is rapidly growing. Tesla Motors' management develops new strategies to compete in this competitive market. The reasons behind its growth are new regulations on vehicle emissions and safety, technological advancements, and shifts in customer expectations and needs (Gilson & Abbot, 2017). In the beginning, the founder and CEO of the company launched a mission that stated: "to have the sustainable transport accelerated by bringing compelling mass-market electric cars to the market as fast as possible." The purpose has served as the backbone of the successful business model of Tesla Motors (Gilson & Abbot, 2017).

To achieve the recent development, Tesla Motors did not build a relatively affordable car that could market and mass production, but the company took the opposite approach. It focused on creating a compelling vehicle. The Tesla Roadster was Tesla's inaugural high-performance electric supercar (Vynakov et al., 2016). After its brand got established and a concept car was delivered to the market, Tesla Motors reinforced its business model. It is a business model based on a three-pronged approach to selling its electric vehicles, servicing, and charging.

Tesla Motors has also adopted several strategies in recent years to increase its future value. One of these is expanding its product offerings beyond electric vehicles to include batteries, solar panels, and home energy storage systems. This move has helped the company to become a one-stop shop for sustainable energy solutions and position itself as a leader in the industry. Another strategy Tesla has adopted is investing in autonomous driving technology. This has the potential to not only make its cars safer and more efficient but also open up new revenue streams by providing independent ride-hailing services. Tesla's expansion into new product categories has helped it to gain a competitive edge and position itself as a critical player in the sustainable energy space. Its investment in autonomous driving technology is also a major differentiator that could lead to significant growth in the future.

The Automobile Industry and Tesla’s Key Competitors

The automotive industry is very competitive, with numerous companies all vying for market share. Tesla Motors is a relatively new entrant to the industry but has quickly established itself as a leader in electric vehicles. The company has also expanded beyond cars to offer batteries, solar panels, and home energy storage systems. The automotive industry is significantly shifting as companies move towards electric and autonomous vehicles. Thanks to its innovative products and cutting-edge technology, Tesla is well-positioned to take advantage of these trends.

Tesla Motors, founded in 2003, operates in three industries; energy storage, energy production, and automotive. The firm deals with storage systems and energy generation in addition to the USA's design, production, leasing, and sales of electric vehicles. Therefore, the company provides services to automotive companies like selling battery technology. The major Tesla Motors competitors are Ford Motor Company, General Motors, Honda Motor Company, Tata Motors, Toyota, and other electric vehicle manufacturers such as Nissan and BMW (Gilson & Abbot, 2017). The traditional car companies are increasing their offerings when it comes to hybrid gasoline-electric cars as well as pure electric vehicles.

Companies like Ford Motor Company, Tesla's competitor, have become among the world's leading automobile brands through the strategy of intelligent management and leadership. It is a company aiming to become a mobility company that is the world's most trusted. Its process involves a consistent focus on operational efficiency. General Motors is also a competitor to Tesla, and its sustainability strategy is synonymous with the company's business strategy. The business strategy of General Motors is to deliver transportation solutions that are simpler, safer, and sustainable for its customers (Mangram, 2022). These car competitors use a variety of strategies, depending on their strengths and weaknesses. Some, like General Motors, have been investing heavily in electric vehicle research and development, while others, like Nissan, have focused on making their electric cars more affordable for consumers. BMW, meanwhile, has been investing in both areas.

Automobile Industry Analysis

In the automotive industry, especially the electric car industry, the market for electric vehicles gets driven by various factors. Among the factors include the increase in fuel-efficient demand, low emission, high-performance cars, and the government's stringent rules and regulations (Gilson & Abbot, 2017). The rules and regulations are toward emissions from the car getting anticipated to drive the market trend of the electric vehicle. Regarding market share, the hybrid electric vehicle holds approximately 48% of the percentage based on the electric vehicle types.

In 2022, Tesla is still a leading player in the electric vehicle market, with a market share of around 20%. Its main competitors are General Motors, Nissan, and BMW. Tesla has maintained its position as a top electric vehicle manufacturer thanks to its continued innovation and investment in new technology (Kolodny, 2022). The company has expanded its product offerings beyond electric vehicles to batteries, solar panels, and home energy storage systems. It has also invested heavily in autonomous driving technology, which is expected to become a significant growth area in the coming years.

Case study 3

Tesla Motors Performance Goals

Tesla's performance goals for the next one- and five-year period are to increase market share in the electric vehicle market to 30% by 2023, launch autonomous ride-hailing services in at least 10 major cities by 2025, and become the leading provider of sustainable energy solutions by 2030. These goals are ambitious but achievable, thanks to Tesla's strong position in the electric vehicle market and its continued investment in new technologies (Maurer, 2020). The company's market share could be increased through aggressive marketing and expansion into new markets. Its autonomous driving technology could be used to launch ride-hailing services in major cities, providing a new source of revenue. And its sustainable energy solutions could help it to gain a significant share of the growing market for renewable energy.

Case Study 3

Innovation is coming up with new ideas, products, or services. For an organization to progress well, innovations are essential. In Food and Beverage, innovations are crucial in staying relevant in the market and keeping and attracting new clients (Bubanja & Madzar, 2019). The numerous reasons for innovations in a company are:

1. Helps the company grow – the company's innovation of new products will enable venturing into new markets and attract more customers. The returns will increase due to increased sales (Bubanja & Madzar, 2019).

1. Increase efficiency – through innovations, the company will find efficient ways to utilize and maximize the available resources and reduce wastage.

1. It helps the company differentiate itself from others – when a company is innovative, it develops unique products that competitors do not have. The company dominates the market and beats the competition because its effects are unique and affordable (Bubanja & Madzar, 2019).

1. Keeps the company relevant – when changes are happening in the industry, it is only through innovation that a company can stay in the market and attain its goals and objectives.

1. Staff retention – if the company comes up with innovations that make work easy and doable for its staff, they will be reluctant to move to other companies.

Strategies to Foster Innovation in the Company

For the company to stay innovative in the Food and Beverage Industry, the management should implement several strategies (Haddad et al., 2019). These are:

1. Make innovation a core value – the management should foster a culture of innovation whereby its employees will develop new ways of improving the products and services of the company (Haddad et al., 2019).

1. Employ people with different ideas – if the company employees have different perspectives, it makes innovation easier because there will be numerous ideas to choose what will work best for the company (Haddad et al., 2019).

1. Give employees time and space to innovate – if the management is patient enough to give employees time to come up with new products or services, the employees will deliver quality innovations.

1. Have a feedback process – the company should have a way in which its customers can give feedback concerning its products and services. Most feedbacks are honest reviews that can help correct mistakes and improve the company's products for customer satisfaction.

1. Encourage collaboration – for a company to succeed, there should be unity. Working together will enable the management and the employees to move together because the employees will be involved in making the best decisions for the company (Haddad et al., 2019).

1. Reward employees – if the employees cooperate well and the company's goals and objectives are met, it is good for the company to appreciate them with bonuses. Appreciations will motivate employees to work smart and see the company to the next level (Haddad et al., 2019).

1. Implement ideas immediately – as soon as worthy ideas are put across, the company should implement them. This will reduce duplication from other companies in case the idea leaks and help drop the idea early enough if it's not beneficial to the company.

Evolution of the Food and Beverage Industry in Five to Ten Years

1. Increased regulations – the government has strict rules regarding the food and beverage industry whereby food safety regulations should be thoroughly adhered to. The rules will continue to increase as time goes by, and it will be difficult for many companies in the industry to keep up with them.

1. New age clientele – in the near future, many people will prefer eating healthier foods that are more expensive than junk.

1. Utilization of technology – for companies to stay relevant in the market, they will have to adapt to the new technology to meet their customer's demands and make profits. Technology will add value to the products and services where the clients can scan products using their phones.

The company's advantage over other competitors

1. Ability to produce at a lower cost compared to other companies.

1. High skilled labour

The company can produce at a meagre cost due to access to natural resources that other companies don't have. The employees are highly trained to use the equipment and resources provided.

Strategies for Exploiting the Company's Innovations

1. Cost leadership

1. Differentiation

1. Focus

The advantage of cost leadership is that the company can venture into a new market scale and earn more profits. Cost leadership reduces competition in the marketplace because other companies will struggle to offer the same prices (Islami, Mustafa, & Topuzovska Latkovikj 2020). The disadvantages of cost are; that the company might start offering low-quality products and lose its customers. Cost leadership requires the company to make many sales to succeed; if not, the company will fail.

The advantages of differentiation are; that the company strives toward offering top-notch products that other companies can't offer. The services provided are of good quality, and the customers will be loyal to the company (Islami, Mustafa, & Topuzovska Latkovikj, 2020). The disadvantages of differentiation are; that the company sets premium prices for some products, which are high and some customers won't be able to afford. The cost of producing quality products will increase the company's investment, and if the products don't sell as anticipated, the company will end up making losses.

The advantage of focus is that it helps the company develop its products and services, hence outshining other companies. Focus allows the company to specialize in its customer's demands and improves the pricing format of the business (Islami, Mustafa, & Topuzovska Latkovikj, 2020). The disadvantages of focus are; that if a company focuses so much on certain products, it limits the previous demand for products and services. The company focuses so much on certain products hence restricting its growth. Focus puts the company at risk of disruption.

Recommended Strategy

Make Innovation a Core Value – the company should ensure that the employees are familiar with its operations and innovation expectations to work in unity. The employees will then fully participate and share their ideas for implementation. The employees are the determinants of a business's success; if they are honest and open-minded, the company will succeed. Given humble time, the employees will be able to explore different initiatives without fearing being stopped by the management, which will bring new products to the company. By working in unison with the employees, the administration will be able to identify its weak points and rectify them to continue offering the best environment for the workers to deliver good quality products and services. The critical aspect of the business is outweighing competitors; through innovation, the company will be able to rule the market.

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