Business in Practise: Firm Analysis
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Date
2024-08-22
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Publisher
University Of Warwick
Abstract
This report examines the strategic decisions and outcomes of a simulated firm operating within the competitive electric vehicle (EV) industry. It explores how a delayed initial investment impacted company performance and required strategic adjustments to align with market demands. By leveraging frameworks such as Lean Manufacturing, the Theory of Constraints, and the Resource-Based View, the report evaluates the company's marketing and operational strategies. Key highlights include optimizing production lines, balancing tariffs, adjusting pricing strategies, and launching innovative EV models. The analysis underscores the importance of cross-functional collaboration, timely decision-making, and adaptability in achieving market leadership and operational efficiency. Despite challenges, the implementation of an aggressive production strategy and premium pricing approach led to improved market share, customer satisfaction, and revenue growth.
Description
This document provides an in-depth analysis of a simulated firm's performance in the electric vehicle (EV) sector. The report covers the company's strategic journey, starting from initial setbacks due to insufficient investments, and details how the firm realigned its marketing and operational strategies. Using academic frameworks and real-time data, the report delves into key decisions, such as marketing adjustments, production site optimization, and product lifecycle management. Case studies of specific product launches, pricing strategies, and market adaptations illustrate the challenges and achievements. The report concludes with lessons learned about the value of agility, cross-departmental coordination, and strategic foresight in a rapidly evolving industry. It is a comprehensive reflection on leveraging theoretical models to navigate real-world complexities effectively.
Keywords
Electric Vehicle Industry, Marketing, Strategic Management, simulated firm