Suppose you are the operations manager of Tesla whose electric cars are currently in the Growth...

Suppose you are the operations manager of Tesla whose electric cars are currently in the Growth stage of its Product Life Cycle, you have decided to adopt the Response strategy to acquire its competitive advantage. Discuss about how you will implement the Response strategy and what business values you can achieve from this strategy Please label your answers clearly with 1) 2) 3) for business values.... .

Expert Solution

Tesla is a California based electric car and sustainable energy companywhose main motive is energy conservation through innovation.

Tesla is currently in the growth stage of the product life cycle, which is the time taken for a product to reach from the introduction stage to the decline stage. Since it is in growth stage, it means that the company is experiencing high demand of its products right now.

PRODUCT LIFE CYCLE

Competitive advantage refers to a situation in which a company or organisation is in favourable position because of its unique qualities. To acquire competitive advantage in the favourable growth stage of product life cycle some response strategies need to be implemented.

Response strategy is an action plan for how to react in case of any risks arising in the way of achieving competitive advantage.

1) Quality- Quality plays an important part to attain competitive advantage. Tesla uses batteries that are cobalt free and can store more energy for long duration of time. It uses its unique technology to maintain its quality. Tesla can use improving its quality as a response strategy in case of any risk arising from competitors.

1a) TRUST is the business value achieved through the response strategy of quality.

2) Consistent production with no change in components- Tesla is into consistent production in case of high demands also and there is use of the same high quality components for each manufactured item. Its a response startegy that if there is high demand then also integrity needs to be maintained with respect to quality.

2b) INTEGRITY is the business value achieved through the response strategy of consistent production with no change in components.

3) Quick resolution to complaints- The response to customer complaints should be quick and to the satisfaction of customer. quick resolution to queries and proper feedback from customers can help to achive competitive advantage.

3a) ACCOUTABILITY can be achieved through this practice of response strategy.

4) Unique product with latest technology- In this fast moving competitive world, everyone is looking for latest technology for use. It should be implemented with immediate effect for achieving monopoly in the market.

4a) COMMITMENT TO THE CUSTOMER- The business value commitment to customer can be achieved through this startegy.

keosha answered 1 year ago

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