To develop effective strategies, a business must thoroughly understand its ecosystem, and the stakeholders within it, that can affect its success. To this end, effective businesses often analyze the political, economic, social, and technological forces (sometimes called P.E.S.T. analysis) and perform a comprehensive stakeholder analysis. Businesses can use each analysis to survey opportunities for strategic action, as well as to evaluate threats to current resource capabilities and strategies.
This week, you use a large-scale, industry-level case study to analyze critical forces and stakeholder interests and needs that shape the ecosystem of an organization and industry. You then examine the strategic implications of the critical forces and stakeholder analyses concepts as they apply to your Capstone Strategy Playbook.
Stakeholder Analysis of Tesla Motors
P.E.S.T. analysis is an important way to capture the general forces that affect industries and companies. Another way to obtain a more comprehensive perspective of the general ecosystem that a company like Tesla Motors works within, is to identify, as explicitly as possible, all the stakeholders that have an interest in a given business.
You might want to think about this from the “outside-in.” That is, given each of the major P.E.S.T. forces noted above, ask yourself, “Who are the people (stakeholders) behind each major force and how must I relate to them strategically?” So, for example, it is clear that international and national political figures may be relevant stakeholders in any given case, as would government regulators at local, regional, national, or international levels. You can’t change a local, regional, or national/international regulation directly—you have to know who to see and the action occurs among people—so a stakeholder analysis is, in many ways, a “personified” version of your P.E.S.T. analysis.
To prepare for this Discussion:
Review all required readings, including the Weekly Briefing, which provides additional guidance on how to complete the Assignment.
Review this week’s case study. You can, and should, scan it multiple times.
Identify and review all relevant readings from the MBA Program Capstone Bibliography.
Consider the elements of P.E.S.T. analysis that you learned earlier in the MBA program. These elements include:
Political (Legislative) and Legal Elements (regulatory environment, market access, technology regulation, zoning restrictions, industry specific, company specific legislation, anti-trust laws, insurance/liability requirements, safety regulations, child workforce protection laws, immigration laws, etc.)
Economic Elements (interest rate and equity market movements, capital liquidity, inflation prospects, exchange rate movements, workforce availability, discretionary income levels, etc.)
Societal Values and Ethics (risk taking propensity, family dynamics and behavior, cultural “in” behaviors, taboo activities, media focus, religious behaviors, ethical limitations on business, etc.)
Technology Elements (materials technology advances, electronics advances, communications advances, infrastructure access [communication, electricity, etc.], energy advances, etc.)
And an important and too often forgotten element:
Demographic Changes (age distribution and trend, absolute population size and trend, birth and death rates, gender proportion and trend, ethnic mix and trend, location/mobility and trends.)
Identify, as explicitly as possible, all the relevant stakeholders that have an interest in Tesla Motors, and how Tesla should manage them as part of a strategy.
Research your stakeholder list initially this way, to ensure complete coverage:
General Ecosystem Stakeholders (the ones that are behind the specific P.E.S.T. influences, includes the press, interest groups, the public at large, communities, shareholders, etc.)
Industry Level Stakeholders (direct local competitors, potential substitute companies, other competitors or potential competitors outside your current markets, lenders, alliance or potential alliance partners, trade associations, suppliers in the entire supply chain, customers and their end-users, potential customers or end users, etc.)
Internal Stakeholders (these are the people who influence the company from inside, including the board of directors, senior leadership, management, skilled employees at any level, other employees, contract workforce, outsourced workforce, potential new recruits, etc.)
Potential New Stakeholders (at any level, but which may become stakeholders as you consider new strategic actions and activities)
Then, reorder and rank the stakeholder list in order of “influence priority,” where stakeholders at the top of the prioritized list require more of Tesla Motor’s attention because they can/will influence your strategic choices for the future the most.
By Day 3
Post an assessment of the stakeholder environment for Tesla (and the U.S. automobile industry) that includes a comprehensive and prioritized list of stakeholders and explains who the key stakeholders are that Tesla Motors must pay attention to and why; and then offers specific strategies for how Tesla must seek to manage or otherwise, legally and ethically, influence these stakeholders.
General Guidance: Your original post, due by Day 3, will typically be approximately 1 single-spaced page in length (cut and pasted into the Discussion) as a general expectation/estimate. Refer to the Week 4 Discussion 1 rubric for grading elements and criteria. Your Instructor will use the rubric to assess your work.[supanova_question]
Stakeholder and General Force Analysis for Your Capstone Organization Now it
Stakeholder and General Force Analysis for Your Capstone Organization
Now it is time to apply key insights learned from this week’s case analysis and Discussion about stakeholder assessment and its relationship to P.E.S.T. analysis, this week’s readings, and other resources to help you think about how you might answer the question, where will you play? (Who will you serve, and who will either help or compete against you?)
To prepare for this Discussion:
Review all required readings, including the Weekly Briefing, which provides additional guidance on how to complete the Assignment.
Review this week’s case study and peer discussion and reflect and make notes on the following: What insights did you gain, and what did you learn from this week’s resources your case analysis and peer discussion that you can apply to your Strategy Playbook for your chosen organization? What conceptual and strategic differences are important between the case example and your organization (focus on the concepts analyzed this week)? What assumptions do you need to make in order to use the strategy concepts appropriately?
Identify and review all relevant readings from the MBA Capstone Program Bibliography. Given your chosen organization, what concepts, tools, and readings from the Program Capstone Bibliography are most relevant to helping guide how you might recommend improving the company? How and why are they relevant?
Locate and maintain access to publicly available information about your organization.
By Day 5
Post a polished and synthesized entry into the discussion area, which will also be the basis for an entry into the final draft of your Strategy Playbook for Extraordinary Results. At minimum you should add the following to your discussion post and Strategy Playbook:
An evidence-based and cohesive set of specific and actionable recommendations for actions (based on application of this week’s strategy concepts), that your selected organization can take that will clearly enable your organization to achieve its strategic goals, sustain and grow its business, and remain viable and healthy.
HINT: You should provide a preliminary argument that defends your recommendations. Consider why your recommendations are SMART- specific, measurable, achievable (that is realistic and feasible, and timely (relevant and important).
A related set of metrics that will enable your selected organization to measure the effectiveness of your recommended actions.
HINT: These metrics could then be used in the comprehensive final draft of your strategy playbook diagram, which is part of your final Strategy Playbook.
General Guidance: Your original Discussion post for the Capstone Forum will typically be 1 to 1 ½ single-spaced pages, excluding references. Refer to the Week 4 Discussion 2 rubric for grading elements and criteria. Your Instructor will use the rubric to assess your work.[supanova_question]
Tesla: Bargaining Power of Customers In this area, there is only
Business Assignment Help Tesla:
Bargaining Power of Customers
In this area, there is only a moderate force being presented due to three reasons. These reasons include low switching costs, moderate substitute availability, and low volume of purchases. Low switching costs presents a strong force because there is a barrier that prevents customers from being able to easily switch to a different company vehicle due to the limited amount of companies in the market. Substitute availability presents a moderate force which also limits the bargaining power of customers. This also leads into the low volume of purchases. Due to people wanting their own vehicles, there aren’t a lot of purchases being made which presents a weak force. Tesla also has to deal with public transportation which also reduces the amount of purchases that are being made.
Bargaining Power of Suppliers
In this area, there is only a moderate force being presented due to a few reasons. In the automotive industry, supply chains want to have higher priced raw materials which drives the prices up for automotive businesses. In order to balance the bargaining power, Tesla has worked with multiple suppliers to gain trust and likeness with them. Another thing Tesla has done is making a supplier solely rely on them. This allows for the supplier to trust Tesla, provide great prices, and gives more power towards Tesla in this area when it comes to their raw materials.
Competitive Rivalry
In this market, Tesla is in a very competitive market. This in turn takes away from the overall profitability of the company, but finding ways to get passed this is the key. To deal with the competitive rivalry, they need to continually work on differentiating themselves from the competition. By creating new cars, different styles, and more. Another thing that Tesla can do is by working with their competitors to tackle the large scale market, rather than focusing on the small scale market. This would help to drive up the market size, increase profits, and solidify longevity for the company as well.
References:
Department, S. M. (n.d.). Tesla, Inc.. porter five forces analysis, Porter 5 forces analysis. Fern Fort University. Retrieved November 23, 2021, from http://fernfortuniversity.com/term-papers/porter5/analysis/862-tesla–inc-.php.
Kissinger, D. (2019, February 22). Tesla Inc.. Five forces analysis (Porter’s Model) [supanova_question]
1. When it comes to people, those who tend to be
1. When it comes to people, those who tend to be more creative seems to also be more innovative. Innovation usually comes from “outside of the box” thinking, and this is often an innate trait in people. It is assumed, however, that under the correct circumstances, people can learn to become innovative. Innovation is nothing more than problem-solving in a development form. With the opportunity to place people into problem-solving situations, people can then begin to develop the baseline skills that can stem into innovation. In the same sense, If organizations have innovative people on staff, and disallow for them to have a creative outlet, they can have a problem with retention. Those who are most innovative are often never complacent. With that being said, if they are not to have chances to continue to innovate, it would make the most sense to find other outlets to innovate.
2. Now when I think about innovative people, I can not forget to mention the controversial Kanye West. What Kanye has done, and continues to do for the music industry makes him one of the more innovative people of our generation. Kanye, before he was one of the most popular artists in recent memory, was a producer of music and did so for the likes of Jay-Z and Lil Wayne. With his background in music production, he had a unique niche in which he could make his own beats for his songs that he wrote. This allowed him to have full control of the sound he wanted to have and the songs he wanted to make. With other artists like Drake and Travis Scott just being hip hop artists, they are given beats and then make a song based on those beats. This disallows for the ability to have full creative control over the music that they put out. Kanye, since his entry into the music business, has always had a unique sound. His ability to be unapologetically himself has allowed for success to the tune of 46,414,545 monthly listeners on Spotify at the time of this post. If one wanted to look to hip hop music in the eyes of innovation, Kanye’s My Beautiful Dark Twisted Fantasy (2010) is one of the most remarkable projects, in my opinion, in hip hop and was much ahead of its time with the style of the production and the range of the music that is on that track list.
References:
Rowlands, Drew. “What Is the Difference between Creativity and Innovation?” IVE, 24 Sept. 2020, https://weareive.org/what-is-the-difference-between-creativity-and-innovation/.
West, Kanye. “My Beautiful Dark Twisted Fantasy.” Spotify- My Beautiful Dark Twisted Fantasy, Roc-A-Fella, https://open.spotify.com/album/20r762YmB5HeofjMCiPMLv. Accessed 22 Nov. 2021.[supanova_question]