Bussines Management

Write an essay.Students are expected to answer the below questions by using the above excerpt about Tesla, B207A course material and information search from legible Internet sources. Students should only use the Tesla example as application on these questions.Question 1: Operations’ five performance objectives (25 marks, 200-250 words)Discuss any five of the performance objectives at Tesla.Question 2: New product development (25 marks, 200-250 words)Without any new development, products and services can become obsolete, increasing the likelihood that customers may switch to competitor’s products. New product development can be categorized in three categories as seen in B207A course material. Discuss these three categories in relation to Tesla.Question 3: Porters five forces (25 marks, 200-250 words)One useful way of analyzing the nature of competition in an industry has been suggested by Porter’s ‘five forces model ‘of competition. Analyze Tesla’s five forces model.Question 4: Outsourcing (25 marks, 200-250 words)What is outsourcing? Discuss the advantages and disadvantages of outsourcing to Tesla in relation to the following statement: “In response to quality issues with suppliers of automobile parts, Elon Musk shifted the company toward manufacturing more of its own vehicle parts instead of sourcing from parts manufacturers.”