Determine the company’s top advantage(s) and recommend alternative strategies that the company could take in order to beat its competitors.
( THE COMPANY I CHOSEN IS TELSA)
1….Evaluate the importance of innovation for the long-term survival of your chosen company, as well as the industry that your chosen company fits in. Next, recommend an overall strategy in order to foster innovation in your chosen company. Provide a rationale for your response.
2….Speculate on how you would expect the industry to evolve over a period of five and ten years.
3….Determine your chosen company’s top advantage(s) over its competitors.
4….Determine two or three strategies that the company could use to exploit its innovation breakthroughs, using the top advantage(s) that you determined in Question 3. Analyze the main advantages and disadvantages of each strategy.
5….Recommend one of the strategies that you determined for the company and suggest how pursuing that strategy would exploit the company’s advantages over its competitors and minimize its key weaknesses.
Management Assignment on Exploiting Innovation