Explain how an IFE matrix is prepared in strategic management. Evaluate Tesla Motors using the IFE Matrix as a benchmark. To answer this question appropriately, you will need to conduct additional research. Please find attached a sample IFE matrix.

Circus Circus Weighted Weight Rating Internal Weaknesses Most properties located in Las Vegas 05 05 Circus Circus D5 2 10 Weight Weighted Little diversification Rating Internal Strengths Score Family reputation, not high rollers 05 2 10 Largeat casino company in world 05 20 Laughlin properties .10 1 -10 Room occupancy rates over 956 .10 4 40 Recent loss of joint ventures 10 1 10 Increasing free cash flows 05 15 Owns 1 mile on Las Vegas strip . 15 4 Strong management team 3 . 15 Buffets at most facilities 3 . 16 TOTAL (including Strengths) 1.0 2.75 Minimal compa provided .05 15 Long-range planning 05 4 20 Reputation as family-friendly D5 3 15 Financial ratios ,15 FRED R. DAVID Ch 4 72 FRED R. DAVID Ch. 4-73 @ 2001 Prentice HallElon Musk runs Tesla like Steve Jobs runs Apple. Graham Robertson While Elon Musk and Steve Jobs have very different personalities, they are one of the top brand leaders of their generations. Here we intend to show how Elon Musk has used hype marketing straight out of the Apple playbook to create such an intense desire for their Electric Vehicles. Other major car brands appear confused and stuck in neutral. Tesla's production process failed miserably to keep up with all the pent-up demand. While that might spell doom for most brands, the scarcity of supply matched to the hype fueled even more pent-up demand for Tesla. As Tesla's production finally caught up, the Tesla stock price skyrocketed, leaving Elon Musk the wealthiest person on earth. With all the macro-world factors, Tesla's stock has gone up, down, up, down and depending on when you read this, it could be up or down. Tesla is the classic overnight success that took a long time to reach the market. Over the past five years, consumers have discovered Tesla giving the impression of an "overnight success" that came out of no where. Yet, they have been in business since 2003. Moreover, it took Tesla the first eight years to sell a few thousand cars. By then, most of the founders were gone, leaving Elon Musk to steer the ship. In year nine, they launched the high- end Model S car. And they still only sold 100,000 over the next three years. Tesla is an excellent example of being in it for the long run. People were discovering Tesla. The launch the Tesla 3 was filled with hype. They struggled to produce to keep up with demand. Everyone wanted one. But Tesla couldn't make them fast enough. From 2015-2019, the stock price went up and down like a roller coaster, doubling from $40 up to $85. And, in 2020, everything started to come together. The Tesla stock went up 10-fold, from $85 to over $900. Elon Musk is now of the richest people on earth. Almost twenty years in the making, Tesla has become one of our most beloved brands. Tesla Brand Strategy Let's map out the Tesla strategy using our five elements of strategic thinking: Tesla started with a desire to shift the car market from gas-powered to electric (vision). While most other electric car companies failed, Tesla cars are remarkably different, as they score high for performance and style (focus). Tesla saw an opportunity to break the usual thinking that energy-efficient meant ugly, slow, and always needing a charge (identified opportunity). Tesla has capitalized on the consumer's readiness to do something for the environment and has created a movement. So, Tesla took a different approach. They started at the high end to create a strong desire for their beautiful cars. And then, they moved down to open up to the masses (market impact). Well, the elite mass! Their cars remain a high- ticket item. Finally, following the release of the Model 3 in 2018, their quarterly sales jumped 4-fold over two years (performance result), and the stock price is up 10-fold.Tesla Strategic thinking Tesla FOCUS Brand Strategy AIB.C.D Fig: Tesla's Brand Strategy explained. What Tesla does Best? Tesla has capitalized on the environmental trend. Tesla has done so well because of its 100% focus on electric vehicles, whereas every other car company has treated it as an option. I equate that like a vegan getting a salad at a steakhouse. Those vegans would much prefer going to a restaurant focused on their beliefs. Tesla understands that being an environmentalist is a lifestyle choice, not an option. The traditional car companies treat their electric vehicles as an afterthought. "We also have that in electric, for $20,000 more." Tesla has used the hype-style marketing style of Apple. Elon Musk has borrowed from the Steve Jobs playbook. He uses event-style marketing, an outspoken visionary voice, and he is continually challenging the status quo. Yes, he goes offside on Twitter all the time, but we might be glad that we never saw Steve Jobs tweet. Another borrow from Steve Jobs is their simplified product. A traditional car engine uses 2,000 parts. In contrast, the Tesla engine uses only 20 parts. Moreover, Testa treats their cars like technology. As Apple has done with fewer parts, Tesla can gain better control of their costs. Tesla treats their cars like technology. They develop software for their cars, similar to how Apple develops software for their iPhone. Essentially, this allows Tesla to improve its car engine software to enhance the consumer experience every few weeks. Stylish designs. Like Apple, Tesla emphasizes style, which adds to the desire. Paying $55,000 or $110,000, Tesla understands that an expensive car must be beautiful. Teenagers want a Tesla car because they are cool, adding to the pent-up demand they have created. (Source: https:/beloved-brands.com/tesla-case-study/Date Accessed 15th August 2023)