Attached.
Elements of Business – Outline
I. Legal, Social, and Economic Environments
A. Tesla and Ford Company operate in almost similar legal, social, and economic
environments because they are both headquartered in the United States
B. Economic considerations assume a significant role as rising fuel prices and
economic crises push customers to select more productive forms of energy
II. Managerial, Operational, and Financial Issues
A. Ford’s manufacturing and car production strategies have reduced their energy
consumption, pollution, and waste
B. Ford advertising approach has marketing categories of category two, including
above line marketing and below line promotion
C. Tesla Motors, in particular, competes reasonably within the automobile’s global
market by being the leader and pioneer in the mass production of battery electric
vehicles
D. Tesla’s SWOT analysis is applied to analyze the market since it has a niche target
for electric vehicles
E. Another premeditated objective associated with Tesla’s standardized business
approach is to improve competition by extending its customer presence to create
more revenue and interest in the brand
III. Team Performance
A. In terms of management, the corporate culture of Tesla, Inc. connects workers
into a team that aims to develop the company
B. Management teams found in Ford, all members are allowed to not only send
proposals but also assessing others’ ideas
IV. Managers Strong Points
A. For Tesla, its CEO, Elon Musk, is an innovator and drives the company to match
its products with future market needs
B. Ford’s CEO, Jim Hackett, is strongly responsive to the market
V. Recommendations
A. Ford has to boost its expenditures in research and development and accelerate its
advancement level
B. Tesla not only has to render its goods accessible but also to make it popular
among consumers
C. Tesla has to collaborate with channel suppliers to expand consumer applications
and utilize renewable power products, such as vehicles, powertrains, and battery
devices
Running head: ELEMENTS OF A BUSINESS
Elements of Business
Name
Institution
1
ELEMENTS OF A BUSINESS
2
Elements of a Business
Abstract
The car manufacturing industry is one of the highly dynamic and competitive industries
in the United States. In this industry, firms use varying strategies and marketing scopes to both
acquire and also maintain market share. As a result, Tesla, Inc., and Ford Company have
developed varying strategies and va…
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