Implementing Core Competencies Of The Strategic Planning Essay

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Organizations must develop and execute strategic plans to ensure future company growth and success. Assessing the internal and external aspects affecting a business is a key part of the strategic planning process, as it provides a vector for organizations to maintain a competitive advantage within a marketplace that is continuously evolving. Using quantitative data is considered a best practice to begin an assessment by reviewing recent financial performance and objectively determining the company’s current financial condition (Abraham, 2012). Subsequently, innovative organizations like Tesla Motors must apply methodologies to intimately measure subjective aspects such as a company’s competitive strengths, weaknesses, opportunities, and potential threats. A SWOT analysis is the operational method used to analyze these aspects (Abraham, 2012). The purpose of the following project is to apply core competencies of the strategic planning curriculum to inspire a culture of strategic innovation within organizational leaders of tomorrow. First, we will take an assessment of Tesla Motors history, the company’s current products, and major competitors affecting the innovative company’s business plan. Then, we can examine the current market situation to determine any potential barriers to organizational success, before applying the principles of a SWOT analysis to determine Tesla’s strengths, weaknesses, opportunities, and threats that may affect the future of the organization.
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