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1 Project One: Executive Summary Victoria Parker Southern New Hampshire University BUS 225: Critical Business Skills for Success Julia Williams November 10, 2023

2 Project One: Executive Summary Problem In the face of a continuously evolving automobile enterprise, groups must diversify profit opportunities while leveraging their current production abilities. The convergence of qualitative and quantitative facts is essential for making informed selections in this dynamic panorama. Qualitative insights into market demand, client possibilities, and enterprise developments need to be complemented by quantitative facts regarding enterprise length, nearby profit disparities, and the distribution of vehicle types, which include electric, hybrid, and traditional gas-powered cars. These statistics-driven strategies are vital in harnessing the potential of the multi-billion- dollar U.S. automobile manufacturing industry, aligning with market trends, and responding to the marketplace's environmental and consumer-pushed shifts, making sure products continue to be aggressive and applicable in the automobile region. The problem is a way to diversify our organization's income opportunities by entering a new market while using our present engine production capabilities (Cooper, 2020). To make an informed selection, we want both qualitative and quantitative statistics (Osbaldeston, 2021). Qualitatively, I will discover marketplace demand, patron possibilities, and enterprise trends. Quantitatively, I will gather facts on industry size, local income, and the distribution of car types (electric, approximately 350,000 devices; hybrid, approximately 200,000; and gas, approximately 400,000). Automotive Manufacturing Industry The U.S. automobile production industry's general cost, which amounts to numerous hundred billion dollars, indicates its massive size and capacity for growth. Analyzing income by area will provide insights into where there may be untapped possibilities for expanding our marketplace presence (Soh, 2023). By assessing the distribution of vehicle sales by using gasoline types (electric, hybrid, and fuel), I will align our engine services with the winning marketplace trends, ensuring that our products are in line with the evolving needs of the enterprise. This data is critical for strategically positioning our engines and making informed decisions about which market segments provide the most promising avenues for diversification and extended income. The contemporary developments in the car market, consisting of the shift toward electric- powered and hybrid motors, are primarily driven by increasing environmental consciousness and government guidelines aimed at lowering emissions and selling sustainable transportation (Njogu, 2023). Recognizing and capitalizing on this fashion is crucial for our diversification approach, as it shows a capability marketplace for our engines, especially if we adapt them to satisfy the demands of those eco-friendly car options. Furthermore, the evolving customer options, which include vehicle coloration, more capabilities, and patterns, highlight the need for customization and flexibility in our

4 New Industry Automotive Manufacturing Industry Rivalry among existing competitors Competitive competition is severe because of the global presence of primary players. Differentiation through innovation, cost performance, and expanding into emerging markets are strategies corporations employ to gain an aggressive side. Suppliers have sturdy negotiating strength within the vehicle area, with a network of professional component producers; however, new electric- powered and hybrid vehicle technology corporations have received floor Authorities and patron possibilities for eco-friendly vehicles affect customers at one-of-a-kind ranges (Hadi, 2021). Threats of new entrants to the market The risk of new entrants is exceedingly high because the enterprise is dynamic and capital- extensive. Due to excessive capital necessities, present producers, and legislative regulations, new competition is unlikely, even if electric automobile startups query this. Transportation and eco-friendly substitutes have a modest opportunity. Competition is fierce, necessitating innovation and market adaptation. Bargaining power of suppliers Buyers, together with governments and utilities, frequently have restrained selections due to the specialized nature of renewable energy technologies Dealer-offered electricity is modest regarding renewable energy, but generation and varied assets are converting that. Renewable strength technologies are specialized, limiting shoppers, commonly governments and utilities, in negotiating points (Hadi, 2021). Threat of substitute products The risk of substitutes is low, as renewable energy is an important part of the global push for clean energy. Despite being capital-in-depth, the worldwide preference for cleaner energy sources makes new entrants vulnerable. Renewable power is essential to regular ability; consequently, substitutes are unlikely. Bargaining power of buyers Bargaining Power of Suppliers (The4, 2023): In the renewable power area, providers of uncooked substances and components can The analysis provides valuable insights for the organization looking for profit diversification while leveraging its engine manufacturing

5 have mild bargaining energy skills. Focusing on electric-powered and hybrid automobile technologies in the automotive zone aligns with sustainability trends and market demands, presenting capability inside the multi-billion-dollar U.S. vehicle manufacturing industry (Vaz et al., 2017). This shift addresses environmental and patron-driven alternatives, ensuring competitive product services in the renewable electricity enterprise, high-quality growth, and a global transition in the direction of easy-strength sources, which creates promising possibilities. With a lower hazard of substitutes and a high increase in capability, diversifying into renewable power aligns with the organization's goals. Both industries offer diversification capability, each with distinct challenges and dynamics. The car enterprise caters to green developments and evolving purchaser choices simultaneously as the renewable power area faucets into the worldwide call for sustainable strength answers. To make an informed selection, the business enterprise should thoroughly investigate its resources, abilities, and danger tolerance, selecting the industry that best aligns with its goals for future growth and earnings diversification. Comparison of the Industries

7 Porter’s Five Forces Analysis Chart—New Industry Rivalry among existing competitors High because competitive competition is severe because of the global presence of primary Threat of new entrants High because the enterprise is dynamic and capital-extensive Threat of substitute products The risk of substitutes is low, as renewable energy is an important part of the global push for clean energy Bargaining power of buyers Buyers, together with governments and utilities, frequently have restrained selections due to the specialized nature of renewable energy Bargaining power of suppliers Medium becuase in the renewable power area, providers of uncooked substances and components medium bargaining energy

8 Porter’s Five Forces Analysis Chart—Automotive Manufacturing Industry Rivalry among existing competitors high becuase there are a lot of competitors Threat of new entrants medium threats are not taken likely Threat of substitute products medium not many substitutes Bargaining power of buyers high there are a lot of buyers Bargaining power of suppliers high bargaing takes place all of the time

10 World Nuclear Association. (2021, August). Renewable Energy and Electricity | Sustainable Energy | Renewable Energy - World Nuclear Association . World-Nuclear.org. https://world-nuclear.org/information-library/energy-and-the-environment/renewable- energy-and-electricity.aspx