Grand Strategy Matrix
In the Module 3 SLP, you will evaluate the efficacy of your chosen organization’s strategy or strategies.
In a 3- to 4-page paper, determine the grand strategy or strategies currently pursued by the organization you have selected. After you have applied the Grand Strategy Matrix to an organization, determine whether the strategy your company now follows is the most optimal one.
The key aspects of this assignment that should be covered in your 3- to 4-page paper include the following:
* Visit your chosen organization’s website, and using the company’s Annual Report and/or other additional research, determine the organization’s strategy or strategies. For example, is the company presently pursuing a Concentration strategy? An Innovation strategy? Is the company in Retrenchment?
* Applying the Grand Strategy Matrix (GSM) to your organization, discuss the assumptions you are using to determine the optimal strategy your organization should pursue.
* Decide whether the organization is pursuing the best strategy (or strategies). If not, what grand strategy or strategies should the organization pursue at present? Defend your answer
Grand Strategy Matrix
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Grand Strategy Matrix
Grand strategy matrix (GSM) is a business instrument that helps create different and alternative strategies for a company. The method divides businesses into quadrants that help them choose the best business solution to adopt. The quadrants include the strong competitive and rapid market growth, weak competitive position and rapid market growth, weak competitive position and slow market growth, and strong competitive position and slow market growth (Mangram, 2018). Generally, the strategy focuses on strengthening its competitive edge and boosting market growth. Each company needs to position itself in the matrix before deciding on the business strategy to be competitively advantageous. The paper will perform a grant strategy matrix on Tesla Inc. Company. Also, it will compare the GMS with its current business strategy.
Tesla Inc. has completely transformed the electric vehicle (EV) journey and the battery market. The “Secret Master Plan” completion by working under Elon Musk’s leadership changed the motoring world forever (Kauerhof, 2017). The company's customer-focused goal fueled better vehicles than gasoline cars. Tesla's ability to win various awards has placed them at a more decisive competitive advantage than other motor vehicle manufacturing organizations. Its love for a clean environment has pushed them to create a unique touch on the market. Specifically, the company's creation of zero-emission vehicles that avoids fossil fuels has attracted more customers to try their product despite the rapidly growing market. Also, Tesla has managed to build electronic vehicles and storage products that generate clean energy.
Tesla's strong competitive position and the rapid market growth of vehicle manufacturing industries place Tesla at Quadrant I of the grand strategy matrix. For this reason, the company needs to pursue and adopt strategies like market penetration, market development, integration methods, and product development to ensure they strengthen the competitive advantage. Combined with SWOT analysis, the company can gather more profits due to high sales.
First, the product penetration strategy of any organization is very critical. Despite Tesla Inc. Company leading electric vehicle market, they still have a chance of improvement in the area. The brand can utilize their already established uniqueness to ensure they are stronger despite the risk for imitation by other companies (Kauerhof, 2017). Also, including extra attributes in their vehicles can maintain their position. The new invent...