Business strategy tesla assignment part2

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Humber College *

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Management

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Nov 24, 2024

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Ethical Competition and Price Strategy in Tesla's Business Approach Fair Competition as a Strategic Imperative Tesla should have an Ethical Competition Policy that emphasizes fair conduct and avoidance of harm to smaller competitors in order to foster a sustainable industry environment. Encouraging collaborations, particularly with smaller businesses, accords with ethical principles while also expanding Tesla's ecosystem, supporting innovation and shared growth in the automotive and energy industries (Robinson, 2023) . Balancing Price Competitiveness and Ethical Practices Tesla improves its business strategy by incorporating ethical considerations into all aspects of its operations. This strategy ensures that all decisions adhere to ethical standards and represent responsible actions (Robinson, 2023) . Ethical audits are conducted on a regular basis to verify compliance across all business sectors, including pricing strategies, confirming Tesla's commitment to core principles in the face of market realities. Strategic Change Management and Implementation Through training sessions, workshops, and continual learning, Tesla should prioritize employee training and development in order to align all levels with strategy improvements (Robinson, 2023) . Establishing Monitoring and Feedback Mechanisms is also critical for evaluating plan success and gathering stakeholder input, ensuring Tesla's activities stay effective and adaptable to market changes. Balancing Cost Reduction with Quality and Safety at Tesla Maintaining a balance between cost reduction and quality and safety maintenance is critical for Tesla's long-term performance. This equilibrium is critical for sustaining customer trust and maintaining market leadership (Bleakley, 2023). Maintaining tight quality control while strategically optimizing production processes is critical for Tesla's long-term profitability and reputation.

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