MGT 325 Saudi Electronic University Management of Technology Questions

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MGT 325

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College of Administrative and Financial Sciences MGT325: Management of Technology Assignment 2 Deadline: 03/04/2021 @ 23:59 Course Name: Management of Technology Student’s Name: Course Code: MGT-325 Student’s ID Number: Semester: II CRN: Academic Year: 2020-2021 For Instructor’s Use only Instructor’s Name: Students’ Grade: Marks Obtained/Out of Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). • Submissions without this cover page will NOT be accepted. Course Learning Outcomes-Covered ➢ Demonstrate a solid understanding of the concepts and models for making strategies to face challenges and improve the performance of technology based enterprises. (Lo 1.2) Assignment 2 Marks: 5 ‘Tesla and its flamboyant, and sometimes erratic, innovator Elon Musk have turned the more than a century old industry upside down in a mere 16 years. Traditional automakers are ill prepared to compete in today's software-centered world. Unlike nimble Tesla, they are big, bureaucratic, slow to respond to customers, dependent on providing customer financing for unit sales growth, and culturally different from a software company. Tesla's speed in innovation in the market for highend vehicles is more like a Google or an Amazon than an automaker. And its soaring market valuation is a clear sign to all automakers that they'll need to develop more innovative, Tesla-like business models in order to survive.’ Harvard Business Review. February 28, 2020 As per your Textbook ‘Tesla's cars had rapidly attracted a large and loyal fan base, and sales were growing at an impressive rate. However, designing and launching multiple major car platforms while building a large-scale battery company, a network of charging stations, and operating Solar City was a lot for a company to take on in its first fifteen years. This left some analysts scratching their heads. Was Tesla trying to do too much too quickly?’ Students are requested to read Chapter 6 Defining the Organization’s Strategic Direction of their textbooks. With the conceptual knowledge from Chapter 6 and your own research, answer the following questions. Q1- How would you characterize competition in the Auto Industry? (1Mark) (200 -300 words) Q2- What do you think are Tesla’s core competencies? Does it have any sources of sustainable competitive advantage? (2Marks) (300 -500 words) Q3- What do you think Tesla’s (or Elon Musk’s) strategic intent is? (2Mark) (300 -500 words) Support your answer with valid points from the Textbook and other references. NOTE: It is mandatory for the students to mention their references, sources and support each answer with at least 2 peer reviewed journal. STRATEGIC MANAGEMENT OF Technological Innovation Sixth Edition Melissa A. Schilling ©2020 McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education. Chapter 6 Defining the Organization's Strategic Direction 6-2 ©2020 McGraw-Hill Education Tesla, Inc. in 2018 Tesla was founded in 2003 by Martin Eberhard, an entrepreneur who wanted to create a faster, sexier electric car. In 2004, Elon Musk agreed to fund the company and became Chairman of the Board. A few years later Eberhard left and Musk became CEO. In 2018, Tesla had grown into a company with almost $12 billion in annual revenues that produced multiple car models, owned Solar City, produced energy storage systems (for example, Powerwall) and solar roofs. The company’s expansion into multiple product lines and rapid production capacity expansion created large capital requirements for the firm. Tesla missed several of its production goals in early 2018 causing investors to be concerned, but at the end of 2018 posted its first annual profit. Tesla’s cars had rapidly attracted a large and loyal fan base and sales were growing at an impressive rate. But was Tesla trying to do too much too quickly? 6-3 ©2020 McGraw-Hill Education Reinventing Hotels: citizenM Discussion Questions 1. What were Musk’s and Eberhard’s goals in founding Tesla? 2. How would you characterize competition in the auto industry? 3. What do you think are Tesla’s core competencies? Does it have any sources of sustainable competitive advantage? 4. What is your assessment of Tesla’s moves into (a) mass-market cars, (b) batteries (car batteries and Powerwall), (c) solar panels? Please consider both the motivation for the moves, and the opportunities and challenges for Tesla to compete in these businesses. 5. Do you think Tesla will be profitable in all of these businesses? Why or why not? 6. What do you think Tesla’s (or Elon Musk’s) strategic intent is? 6-4 ©2020 McGraw-Hill Education Overview A coherent technological innovation strategy leverages the firm’s existing competitive position and provides direction for future development of the firm. Formulating this strategy requires: • Appraising the firm’s environment. • Appraising the firm’s strengths, weaknesses, competitive advantages, and core competencies. • Articulating an ambitious strategic intent. 6-5 ©2020 McGraw-Hill Education Assessing the Firm’s Current Position 1 External Analysis. • Two common methods are Porter’s Five-Force Model and Stakeholder Analysis. • Porter’s Five-Force Model. 1. Degree of existing rivalry. Determined by number of firms, relative size, degree of differentiation between firms, demand conditions, exit barriers. 2. Threat of potential entrants. Determined by attractiveness of industry, height of entry barriers (for example, start-up costs, brand loyalty, regulation, etc.). 3. Bargaining power of suppliers. Determined by number of suppliers and their degree of differentiation, the portion of a firm’s inputs obtained from a particular supplier, the portion of a supplier ’s sales sold to a particular firm, switching costs, and potential for vertical integration. ©2020 McGraw-Hill Education 6-6 Assessing the Firm’s Current Position 2 4. Bargaining power of buyers. Determined by number of buyers, the firm’s degree of differentiation, the portion of a firm’s inputs sold to a particular buyer, the portion of a buyer’s purchases bought from a particular firm, switching costs, and potential for vertical integration. 5. Threat of substitutes. Determined by number of potential substitutes, their closeness in function and relative price. 6. Recently Porter has acknowledged the role of complements. Must consider: a) how important complements are in the industry. b) whether complements are differentially available for the products of various rivals (impacting the attractiveness of their goods), and. c) who captures the value offered by the complements. 6-7 ©2020 McGraw-Hill Education Assessing the Firm’s Current Position 3 Five-Force Model Source: Michael Porter, Competitive Strategy: Techniques for Analyzing Industries and Competitors. Access the text alternative for these images ©2020 McGraw-Hill Education 6-8 Assessing the Firm’s Current Position 4 Stakeholder Analysis. 1. Who are the stakeholders? 2. What does each stakeholder want? 3. What resources do they contribute to the organization? 4. What claims are they likely to make on the organization? Access the text alternative for these images ©2020 McGraw-Hill Education 6-9 Assessing the Firm’s Current Position 5 Internal Analysis. 1. Identify the firm’s strengths and weaknesses. Helpful to consider each element of value chain. Source: Michael Porter, Competitive Advantage: Creating and Sustaining Superior Performance. Access the text alternative for these images ©2020 McGraw-Hill Education 6-10 Assessing the Firm’s Current Position 6 2. Assess which strengths have potential to be sustainable competitive advantage. • • • • Rare Valuable Durable Inimitable Competitive Advantage Sustainable Competitive Advantage Resources are difficult (or impossible) to imitate when they are: • • • • Tacit Path dependent Socially complex Causally ambiguous 6-11 ©2020 McGraw-Hill Education Identifying Core Competencies and Capabilities 1 Core Competencies: A set of integrated and harmonized abilities that distinguish the firm in the marketplace. • Competencies typically combine multiple kinds of abilities. • Several core competencies may underlie a business unit. • Several business units may draw from same competency. • Core competencies should: • Be a significant source of competitive differentiation. • Cover a range of businesses. • Be hard for competitors to imitate. 6-12 ©2020 McGraw-Hill Education Identifying Core Competencies and Capabilities 2 Source: C. K. Prahalad and G. Hamel, “The Core Competence of the Corporation,” Harvard Business Review, May–June 1990. Access the text alternative for these images ©2020 McGraw-Hill Education 6-13 Risk of Core Rigidities When firms excel at an activity, they can become over committed to it and rigid. • Incentives and culture may reward current competencies while thwarting development of new competencies. • Dynamic capabilities are competencies that enable the firm to quickly respond to change. • For example, firm may develop a set of abilities that enable it to rapidly deploy new product development teams for a new opportunity; firm may develop competency in working with alliance partners to gain needed resources quickly. 6-14 ©2020 McGraw-Hill Education Strategic Intent Strategic Intent. • A long-term goal that is ambitious, builds upon and stretches firm’s core competencies, and draws from all levels of the organization. • Typically looks 10 to 20 years ahead, establishes clear milestones. • Firm should identify resources and capabilities needed to close gap between strategic intent and current position. Access the text alternative for these images ©2020 McGraw-Hill Education 6-15 Research Brief: Blue Ocean Strategy 1 Red Ocean Strategy Blue Ocean Strategy Compete in existing market space Create uncontested market space Beat the competition Make the competition irrelevant Exploit existing demand Create and capture new demand Make the value-cost trade-off Break the value-cost trade-off Align the whole system of a firm’s activities with its strategic choice of differentiation or low cost. Align the whole system of a firm’s activities in pursuit of differentiation and low cost. Adapted from Kim, W.C. & Mauborgne, R. 2005. Blue ocean strategy. Boston: Harvard Business School Press. 6-16 ©2020 McGraw-Hill Education Research Brief: Blue Ocean Strategy 2 Managers can challenge the industry industry’s strategic logic by asking the following four questions: 1. Which of the factors that the industry takes for granted should be eliminated? 2. Which factors should be reduced well below the industry’s standard? Which factors should be raised well above the industry’s standard? 3. 4. Which factors should be created that the industry has never offered. Access the text alternative for these images ©2020 McGraw-Hill Education 6-17 Theory In Action The Balanced Scorecard. • Kaplan and Norton argue that effective performance measurement should incorporate: • Financial perspective. • Customer perspective. • Internal perspective. • Innovation and learning. Source: R. Kaplan and D. Norto, “Putting the Balanced Scorecard to Work,” Harvard Business Review, September–October 1993. Access the text alternative for these images ©2020 McGraw-Hill Education 6-18 Discussion Questions 1. What is the difference between a strength, a competitive advantage, and a sustainable competitive advantage? 2. What makes an ability (or set of abilities) a core competency? 3. Why is it necessary to perform an external and internal analysis before the firm can identify its true core competencies? 4. Pick a company you are familiar with. Can you identify some of its core competencies? 5. How is the idea of “strategic intent” different from models of strategy that emphasize achieving a fit between the firm’s strategies and its current strengths, weaknesses, opportunities and threats (SWOT)? 6. Can a strategic intent be too ambitious? 6-19 ©2020 McGraw-Hill Education
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1

College of Administrative and Financial Sciences

MGT325: Management of Technology
Assignment 2
Deadline: 03/04/2021 @ 23:59

Course Name: Management of Technology

Student’s Name:

Course Code: MGT-325

Student’s ID Number:

Semester: II

CRN:

Academic Year: 2020-2021

For Instructor’s Use only
Instructor’s Name:
Students’ Grade: Marks Obtained/Out of

Level of Marks: High/Middle/Low

2

Answer 1
They are different vehicle industry and nations like Asia, Europe, and America rule the vehicle
producing businesses. The automobile business is oligopolistic, which implies that the business has few
carmakers. The oligopolistic market is remarkable since one vehicle producer's activities influence the
other players' tasks (Chen & Perez, 2018). The player's activities are needy. For example, the ten most
impressive organizations control over two-thirds of the auto market internationally. All top advertisers
face similar difficulties notwithstanding their various capacities and activities, such as fabricating autos
utilized for transport purposes with differing costs and items. Also, the varieties are utilized by producers
for publicizing and showcasing, and they are fundamental instruments for competition.
Vehicle makers parcel their business sectors and charge their clients' costs by relying upon their
versatility and request. Clients guide the vehicle businesses. The Porter five powers of rivalry can best
characterize rivalry in the vehicle business as they assess its qualities. The watchmen's five powers
involve the danger of section, which is how simple or trouble...

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