29 Oct You and your group members will function as an external consulting team. Your aim is to provide comprehensive strategic advice to aid the firm in enhanc
You and your group members will function as an external consulting team. Your aim is to provide comprehensive strategic advice to aid the firm in enhancing its competitive edge.
Selection of the Firm: TESLA
3. Internal Analysis
The group should perform a thorough internal analysis to understand the strengths and weaknesses within the firm.
3.1 VRIN Analysis of Firm Resources
Identify the four most important resources of the firm and explain why they are the four most important resources for this specific firm. Provide an analysis of each selected resource using the VRIN framework. The resources can be tangible (e.g., financial assets, physical assets) or intangible (e.g., brand reputation, technological patents, skilled workforce). This analysis helps determine the firm's sustainable competitive advantage by assessing if its resources are Valuable, Rare, Inimitable, and Non-substitutable.
Valuable: Explain how each resource adds value to the firm. Does it enable the firm to exploit opportunities or neutralize threats in the environment?
Rare: Assess the rarity of each resource. Is it controlled by a small number of competing firms, or is it widely available?
Inimitable: Determine the imitability of each resource. Is it difficult for competitors to duplicate or acquire?
Non-substitutable: Evaluate the substitutability of each resource. Are there comparable resources that could be substituted by competitors with the same effect?
3.2 Competitive Strategy Analysis
Determine which of the five generic competitive strategies best describes the firm’s current strategic approach. Consider factors such as the firm’s target market scope (broad vs. narrow) and the type of competitive advantage it seeks (cost vs. differentiation).
The five strategies include low-cost leadership, broad differentiation, best-cost provider, focused differentiation, and focused low-cost.
Explain why the identified strategy is the most fitting for the firm. For this justification, the group can use evidence from the firm's operations, market positioning, and competitive actions to support your analysis.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.